From Job to Freelance – Planning Your Move
When you’re grinding away in a cube, collecting full time pay but hating it… when you’ve managed to have some success freelance writing in the cracks, it’s really tempting to quit and attempt full-time freelancing. So how do you make the decision? Here are some things to consider:
- Do you know your real monthly nut? Your rent or mortgage, your car payment… everything from coffee through food. If you don’t, spend a couple of months tracking all your expenses. You need a solid number to work with.
- What will health insurance for you and your family cost if you’re on your own? Find out.
- What about other benefits? Figure out your plan to replace 401Ks, etc. and what it will cost.
- How much do you have in savings? Most recommend 6 months living expenses, although it can be done with less. The goal is to cover yourself if the freelance writing drys up for awhile, which it will… not often, but it happens.
- How does your spouse or significant other feel about your plan?
- Now, do a very conservative projection of your freelance income for the next six months… how does it look?
Sit with this information for a week or two at least. Maybe more.
Moving to freelance writing is a huge decision; you need to take it one step at a time.
Write well and often,
Subscribe to Abundant Writing News
Related Stories
POSTED IN: Business of Freelance Writing, General Freelance Writing
2 opinions for From Job to Freelance – Planning Your Move
Devon Ellington
Apr 4, 2007 at 7:13 pm
But it’s so worth it when you make that leap!
Anne Wayman
Apr 5, 2007 at 9:12 am
oh yes… wouldn’t have it any other way! In fact, I don’t think I’m employable in the job sense any more, if I ever was.
Have an opinion? Leave a comment: