My freelance year in review 💰
By the numbers
Before we begin: My first essay for Business Insider is live!
While everyone was talking about whether moms and childfree women can stay friends after kids arrive, I wrote about how my friendships with four of my college friends — all of whom are married with at least two kids — are stronger than ever, all thanks to an app called Marco Polo.
It’s the holidays, and I know exactly what you can get me. ✨✨✨Please take three minutes to fill out the CSBC reader survey, besties! ✨✨✨
2023 is nearing its end, and so is my fourth (!) year of freelancing. I’ve technically been a freelancer since the day I got laid off in March 2020, but I really leaned into my new work life in June 2021, when I moved to Austin. I opened my LLC in 2022 and formed an S Corp this year. I’m on a roll and I’ve learned a lot, but there is still so much I want to know and try and do.
For three years now my topline goal has been to live a more creative, aligned life. And I’ve come a long way! In May I wrote about my ambition to give my ideas the respect they deserve. The good news is I tracked my ideas more diligently and pitched (and wrote!) more than last year. The bad news is I still don’t feel anywhere near where I wish to be as a freelance writer. I’d love to be making most of my money from editorial and creative projects my heart is in. Instead, that kind of work accounts for less than 10% of my income right now.
I know this because, for the first time, I did a year-end review and crunched my freelance numbers. Some of the numbers surprised me! Overall, they reminded me that I am doing just fine in a year that was financially daunting for most freelancers (and the thousands of laid-off workers who joined our ranks out of necessity).
I’m not deterred from chasing bigger creative dreams for myself, and I do think I’m just getting started. Growing a business and finding your footing (and ever-elusive balance) take time. I’m in the thick of it right now, I am doing my best, and I give myself grace for that.
I’m ready to refocus on new goals in 2024. For now, let’s look back on 2023.
Professional highlights of 2023:
Getting published in print in the April issue of Cosmopolitan! The one with Nicola Peltz Beckham on the cover.
Moderating an official SXSW panel with Captain Sandy!
Reporting on the pitfalls of background checking your Tinder dates for Cosmopolitan.
Writing about local arts, culture, and food for Tribeza magazine. Culture writing was my bread and butter for so many years and I’m slowly but surely covering more of the Austin scene.
Writing a useful guide for freelancers on the pros and cons of forming an LLC vs. an S Corp for Contently.
Ramping this newsletter back up to a weekly schedule in the second half of the year.
I love writing to all of you!Newsletter highlights:
My 2023 in freelancing, by the numbers
Average monthly income: $6,360
Estimated hourly wage based on a 40-hour workweek: $39.75
I often work less than 40 hours though, let’s be real.Lowest invoice month: $3,865 in February
Highest invoice month: $8,125 in March
Number of income sources: 12
Anchor clients: 2, one as an editor and one as a newsletter author
Percentage of average monthly income from anchor clients: ~57%
New clients: 4
Lost clients: 0, but one anchor client cut work in half
Slowest invoice payment: 67 days (booooooo!)
Fastest income payment: 24 hours!
Pitches sent: ~35
Pitches accepted: ~15
Acceptance rate: ~43%
Okay, that’s…really good actually! Not me impressing myself.Average pitches sent per month: ~3
I’d like to double this in 2024. But it’s an improvement on 2022!Assignments offered to me (work that fell in my lap): 14
Amount made from editorial writing assignments: $4,600
Wait, what now?! This low number shocked me. That’s a dismal reality check. It’s upsetting that the work I find the most fulfilling and chase the hardest pays me so little. This pitiful number motivates me to move toward monetizing my newsletter, podcast, and editorial services; I want to do more of what I love while making a decent living.Amount I invested in my business this year: ~$11,000
Including a financial coach and website designer. Working with my financial coach to untangle some of my money hangups gave me the confidence to invest in myself and my business, even if it felt expensive and scary.
In January I set some main work and business goals:
Pitch and write more.
✅ I achieved my goal! I sent about 35 pitches (a lot more than I sent in 2022) and wrote some pieces I am proud of.
Create a new website.
✅ I delayed making myself a new website for years until I finally pulled the trigger this fall and hired someone to do it for me. My new, joyful website will be live very soon! I’m most excited that my 13 years of professional experience will be showcased at the level it should, and I’ll share it with clients and editors with confidence. I also hope it will help attract clients to me so I don’t have to keep chasing them down. Finally, my online presence will look and feel a lot more like who I am today rather than the woman I was eight years ago.
Treat my business more like a business.
✅ The best decision I made as a freelancer in 2023 was working with Stella Gold at My Gold Standard to power up my business. They helped me form an S Corp, get a business checking account and credit card, set up a Profit First savings system, and make countless other decisions to set my business up for the next five years. This was a big financial investment for me, so it took some soul-searching for me to commit, but I am overjoyed that I did, and the rewards I reaped from working with Stella are priceless.
Make $100,000.
🚫 Not even close! In fact, I made about $20,000 less this year than I did in 2022. That’s a lot less money and I felt it! But this was an extremely challenging year for freelancers across the board, and I feel lucky to have kept my anchor gigs and made it through the pitfalls of 2023 with an above-average income.
Looking forward to 2024 ✨
Here are some of the freelance goals I’d like to work on during my next trip around the sun:
Work with a writing coach.
I’m already set to start working with Catherine LaSota in January and I’m excited!Roll out my new website and personal brand.
Grow this newsletter to 5,000 subscribers and launch paid subscriptions.
Make season three of the CSBC podcast!
And find a way to make the podcast a sustainable, ongoing part of my work.Create and stick to a pitching schedule.
’s The Pitching Hour to help me get there.
I already joinedPublish 24 editorial pieces, or about two per month.
Write profiles!
I love hearing the ugly-beautiful details of people’s lives and want this work to be a regular part of my editorial portfolio.Implement a social media strategy for my work, including experimenting on TikTok.
I think I would enjoy this if I can just find the style that works for me, and get past seeing my face on camera.Make and maintain a work schedule that gets me out of my house.
The shut-in life is just not working for me.
Thank you for sharing this year and all of its ups and downs with me! I’m excited to keep growing and changing with all of you.
I'm from Study Hall and came over after reading your email. I love this list!
Loved this!