![]() ![]() From personal experience I can say that small-scale, lesser known and niche magazines pay better (Rs.2/word) than their more popular cousins. Print and online publications in India typically pay Rs.1/word or a flat rate of Rs.1000 for a 800-1000 word article. While you can do little to negotiate on company or publication projects, you can certainly have your say as far as individual clients go. The pay rates in the Indian writing market are highly variable and can range anywhere between Rs.0.10 – Rs.3 per word. It also gives you and the client an opportunity to discuss and come up with something that is mutually convenient. The mode and distribution of payment: Let the client know well in advance as to how you would prefer to receive payments (Paypal, bank transfer, cheque etc) so that they may make appropriate and timely arrangements. It is important to discuss terms and conditions with the client so that there are no unpleasant surprises later on. The tasks included in the cost: Do you offer free revisions for your work or do you charge extra? Will a change in instruction on part of the client change the final cost of the project? Does a quote for an editing assignment include one or two rounds of edits. Rates charged for a particular service: this may be on a per-word basis for individual articles, per-article basis for long-term projects, per-page basis for editing/proofreading assignments or a flat cumulative rate for a bulk-writing project. ![]() A quote is essentially includes the following: Once you are done establishing a freelance writing business, you will soon receive queries from prospective clients asking for a “quote”. However, that will not stop me from trying. What's your budget breakdown? Share your story with us at for a chance to be featured in a future episode.So you have made forays into the big, not-so-bad world of freelancing, but “how much to charge” still remains a dilemma, doesn’t it? Being the million dollar question that it is, there is no precise answer to this one. "When I talk to people who might be miserable in their full-time job," Kennedy says, "I do feel a little bit better about my choices to be so unstable and have such an unpredictable life." ![]() "Figuring that out is going to be really critical for her to live on an inconsistent income, because her knowing what her baseline is like, 'Okay, this is how much money I need to have and I need to make on a bare minimum to live,' and for her to also know how much she can put away in savings and actually keep in savings," Capalad explains.Īt the end of the day, despite the strain it can put on her finances, Kennedy feels good about her decision to choose her freelance lifestyle over a traditional 9-to-5. Kennedy is able to give a relatively clear picture of where she spends most of her money but taking a closer look at smaller expenses, such as Amazon purchases or drugstore runs, could be insightful in helping her prioritize and budget even further. "Saving for retirement as a freelancer has a double benefit because you don't have to pay taxes now and all of the money grows tax-deferred," Capalad says. Plus, these accounts offer higher contribution limits: up to 25 percent of your income after deductions, or as much as $54,000 as of 2017. Plus, that way, "you know that whatever is leftover is yours," Capalad says.Ĭapalad recommends freelancers look into a SEP IRA, or simplified employee pension, which allows self-employed individuals to make tax-deductible contributions and not have to pay taxes until they retire. While it might feel hard to part with the money in the moment, it means not having to worry about having enough come April. She may also want to consider paying her taxes quarterly instead of annually. She could switch to making quarterly tax paymentsĬapalad says it may be helpful for Kennedy to put 25 to 30 percent of every paycheck into a separate account just for taxes. Capalad suggests Kennedy work up to keeping three months' worth of living expenses in an emergency fund. ![]()
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