How to Prepare for a Career as a Full Time Freelancer

Wishing to become a fulltime freelancer is an admirable goal. Many dream of this job, yet few take the initiative to actually attempt it, and the majority of those that do end up failing within a year. Why is there such a failure rate amongst those who wish to become fulltime freelance writers? Because one other thing they share beside enthusiasm is a lack of preparation; deciding to become a freelancer is the easy part; it is everything that follows that makes you question your sanity.

The first step in becoming a fulltime freelance writer is acknowledging that it won't actually happen for at least another year. Quitting ones day job to write full time without any professional writing experience, without a thick portfolio, without writing samples and networking relationships, will cause the monetary equivalent of death.

You must spend one year doing both your day job and freelancing on the side. If you do everything detailed below consistently for one year or more, you should be ready to take the plunge into becoming a fulltime freelance writer.

Start Saving

You must start saving every penny you can, literally. You should have saved the equivalency of 1 year's salary at the time of becoming a fulltime freelancer. This is because work, especially when starting out, will be few and far between. There will literally be months with no money coming in and days where you go without eating.

Because you also have to start writing everyday, working over time should be avoided. You need this time to freelance. The solution? You have to start living well below your means. Cut out all extra expenses. Only buy absolutely necessary food. Switch to basic cable. Cancel the magazine and movie subscriptions. Don't go to the movies, don't stop for coffee, take the bus or walk whenever possible, and hoard every dollar like a squirrel hoards nuts.

If this idea horrifies you, or you think you can't do this, don't quit your day job. Freelancing is not for you.

Make a Budget