Comments on: Building a Financially Sustainable Writing Career: The Emergency Fund http://www.poewar.com/building-a-financially-sustainable-writing-career-the-emergency-fund/ Solutions for Writers Wed, 18 Nov 2009 15:59:53 -0800 http://wordpress.org/?v=2.8.6 hourly 1 By: John @ Curious Cat Investing Blog http://www.poewar.com/building-a-financially-sustainable-writing-career-the-emergency-fund/comment-page-1/#comment-221120 John @ Curious Cat Investing Blog Sun, 23 Nov 2008 16:54:54 +0000 http://www.poewar.com/?p=4812#comment-221120 Very good advice. This is especially important for those on their own. It is true it is hard for those in the USA to think of saving 6 months. But 6 months is really what someone with a consistent job should have. Someone going into business for themselves should have more. For those looking to freelance, I would suggest to work on your freelance career while maintaining another source of income. Save what your extra writing income as you build your business. In this way you both set yourself up in business and build your savings. Very good advice. This is especially important for those on their own. It is true it is hard for those in the USA to think of saving 6 months. But 6 months is really what someone with a consistent job should have. Someone going into business for themselves should have more.

For those looking to freelance, I would suggest to work on your freelance career while maintaining another source of income. Save what your extra writing income as you build your business. In this way you both set yourself up in business and build your savings.

]]> By: John Hewitt http://www.poewar.com/building-a-financially-sustainable-writing-career-the-emergency-fund/comment-page-1/#comment-220810 John Hewitt Mon, 10 Nov 2008 19:36:15 +0000 http://www.poewar.com/?p=4812#comment-220810 @ James Having the discipline to not spend money is a rare trait these days. I think that people are starting to learn though. I know I'm starting to. @ James

Having the discipline to not spend money is a rare trait these days. I think that people are starting to learn though. I know I’m starting to.

]]> By: John Hewitt http://www.poewar.com/building-a-financially-sustainable-writing-career-the-emergency-fund/comment-page-1/#comment-220806 John Hewitt Mon, 10 Nov 2008 16:05:45 +0000 http://www.poewar.com/?p=4812#comment-220806 @ Anne Nice work. It is always easy to find reasons to withdraw from the fund, but keeping it safe benefits in the long term. @ Anne

Nice work. It is always easy to find reasons to withdraw from the fund, but keeping it safe benefits in the long term.

]]> By: Anne Wayman http://www.poewar.com/building-a-financially-sustainable-writing-career-the-emergency-fund/comment-page-1/#comment-220804 Anne Wayman Mon, 10 Nov 2008 16:02:06 +0000 http://www.poewar.com/?p=4812#comment-220804 John, this is so important... when I started saving what I call a prudent reserve I'd put $10 in and have to take $9 out, but I kept at it, and now I put 12% away for what you're calling an emergency fund, plus 12% for taxes and 12% for retirement... one of the biggest benefits is how it helps me stand firm on my prices. Anne Wayman, now blogging at www.aboutfreelancewriting.co <abbr><em>Anne Waymans last blog post..<a href="http://www.aboutfreelancewriting.com/2008/11/nifty-contest-at-men-with-pens/" rel="nofollow">Nifty Contest At Men With Pens</a></abbr></em> John, this is so important… when I started saving what I call a prudent reserve I’d put $10 in and have to take $9 out, but I kept at it, and now I put 12% away for what you’re calling an emergency fund, plus 12% for taxes and 12% for retirement… one of the biggest benefits is how it helps me stand firm on my prices.

Anne Wayman, now blogging at http://www.aboutfreelancewriting.co

Anne Waymans last blog post..Nifty Contest At Men With Pens

]]> By: James Chartrand - Men with Pens http://www.poewar.com/building-a-financially-sustainable-writing-career-the-emergency-fund/comment-page-1/#comment-220803 James Chartrand - Men with Pens Mon, 10 Nov 2008 15:09:09 +0000 http://www.poewar.com/?p=4812#comment-220803 Cripes, yes. People think they have to immediately find 1k to sock away. No. Come on, start slow. Put away $1 for every $10 you earn. Take 10% off your weekly earnings and set that aside. Small steps, small steps. It'll grow. And then <strong>resist temptation</strong>. Harry and I have a fund set aside. More than a few times, I've had a big, unexpected bill come in and thought, "Well, damn. Okay... maybe I could..." No. No no no no. After I regain my senses, I realize there are other ways to solve my problem *without* dipping into our emergency fund. <abbr><em>James Chartrand - Men with Penss last blog post..<a href="http://feeds.feedburner.com/~r/MenWithPens/~3/448252474/sticky-business-contest" rel="nofollow">Enter The Men with Pens Sticky Business Contest</a></abbr></em> Cripes, yes.

People think they have to immediately find 1k to sock away. No. Come on, start slow. Put away $1 for every $10 you earn. Take 10% off your weekly earnings and set that aside. Small steps, small steps. It’ll grow.

And then resist temptation. Harry and I have a fund set aside. More than a few times, I’ve had a big, unexpected bill come in and thought, “Well, damn. Okay… maybe I could…”

No. No no no no. After I regain my senses, I realize there are other ways to solve my problem *without* dipping into our emergency fund.

James Chartrand – Men with Penss last blog post..Enter The Men with Pens Sticky Business Contest

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