How to Cut Expenses as a Freelance Writer

Your freelance writing income is steadily growing and you are considering quitting your day job to go full time in your writing. To make it profitable, you realize you’re going to have to cut some expenses, but what? Read on to learn how to cut expenses as a freelance writer.

Instructions

Difficulty: Moderate

Things You’ll Need:

• Budget

1. Look at your budget. If you are supporting someone else, ask them to look at it with you. Cutting expenses may involve them and it’s important to have everyone on the same side when it comes to money.
2. Determine what is important. Consider you house, vehicles, food, clothing, insurance, savings and charitable contributions. While you can’t do without these things, maybe there are things you can do to reduce the expense. For instance, downsizing your home will reduce mortgage payments and utility bills. Saving money to buy a used car will cut out a car payment and even reduce insurance. Shop second-hand stores for clothing.
3. Cut out unimportant things. Sounds simple enough, until you have to define what is unimportant. You might think haircuts are not important, but your wife may have other thoughts. This needs to be a give and take. Offer to up your golf club membership if she will find a lower priced salon.
4. Invest in business equipment wisely. In this day and age, you need a reliable computer to be a writer. Determine what you need--and don’t need--and find the best deal. If your writing involves research on the Internet or emailing attachments to editors, a high speed Internet connection is important. However, having cable modem doesn't mean you also need all the premium channels.
5. Shop for bargains on other business needs. Companies like Vonage provide quality phone service at a drastically reduced rate. Print your own business cards or order them from companies like Vista Print. Buy printer ink cartridges from Laser Monks and you not only get a good deal, you help support charities.

Tips & Warnings

• Make your expense cuts reasonable. Never going out to eat or to the movies sounds easy, but it can get old very fast.