working from anywhere

welcome to this week’s 42nd edition of the money hacks carnival. i am your host, fwp.

3-4 weeks ago now, i was laid off from my job as a web programmer for a small company in the sf bay area. since then, i have been pre/occupied by a countless number of things, from how much money do i have left? and how long will the money last? to what should i do next? and how am i feeling? as a result, my posts here at fwp have been rare and sporadic at best as i withdrew and took a much needed mental  ’sabbatical’.

while trying to figure out what to do about the whole job thing, i decided to pursue something i’ve been wanting to for some time now — freelancing! i have been encountering and learning many different things lately, and so (for want of a better theme) i will share some ‘freelancing’ related thoughts and lessons throughout.

welcome to the “i got laid off, and now i’m a freelancer!” edition.

top 10 recommended reading !

the following “top readings” don’t necessarily have to do with freelancing or getting laid off. but i did find them interesting, useful, relevant, and/or well-written.

1. Wenchypoo presents The Truth About the Economy and Job Creation (L-O-N-G) posted at Wisdom From Wenchypoo’s Mental Wastebasket.
2. MBB presents Credit Card Offers For People With Bad Credit posted at Money Blue Book Blog.
3. SimplyForties presents Some Myths about Couples and Money posted at SimplyForties.
4. Mr. Banker presents Does Opening Bank Accounts Affect Your Credit posted at Best Interest Rate Banks.
5. pfincome presents 3 Keys to Creating Passive Income posted at Passive Family Income.
6. Donald presents Diversify Your Income to Prevent Financial Problems posted at Live Life to the Fullest.
7. RL presents How to Work Less and Make More Money With Multiple Streams of Income posted at Rich Leverage.
8. Destroy Debt presents 3 Basic Principles for Good Personal Finance Habits posted at Destroy Debt.
9. Patrick @ Cash Money Life presents Managing Money While Deployed posted at Military Finance Network.
10. Scott Crawford presents Dealing With Stress Caused By Debt posted at DebtGoal.

frugality & saving

this week’s largest grouping of entries seemed to be from the ‘frugality and savings’ selection. this makes sense, given our current tough economic times.

as a fresh new freelancer waiting excitedly for her first (albeit small) check, i certainly have been quite conservative in spending any money myself, given my depleting financial resources. aside from the basics of food, gas, and bills, i may have only bought a handful of yarn for crocheting, so that i wouldn’t feel so deprived!

i have been extra excited about coupons, not dining out, eating healthily (by only buying food that is ‘needed’), having garage sales, going out less in general, looking into where and how i can trim expenses for myself and the SO..

• MoneyNing presents 32 Sensible Tips for the Holiday Shopping Season posted at Personal Finance Blog by Money Ning.
• FMF presents Free Money Finance: How to Save Money on Your Monthly Technology Bills posted at Free Money Finance.
• vh presents Get the mat to fit your artwork posted at Funny about Money.
• Bryce presents See Your Dentist Before the New Year posted at Save and Conquer.
• Polly Poorhouse presents Gaming the Systems, or What to do When the Kids Ask Santa for Expensive Stuff posted at Economic Crunch.
• Momma presents Make money by searching online - Get free gift cards for searching the internet posted at Engineer a debt free life.
• Cindy Morus, The Money Mender presents Save for Retirement or College? posted at Mend Your Money.
• Ryan Suenaga presents Combining Discounts posted at Uncommon Cents.
• PT presents FreeShipping.org: Why Pay for Shipping When You Don?t Have To? posted at Prime Time Money.
• Carson Brackney presents Black Friday Wisdom posted at Personal Finance Analyst.
• The Smarter Wallet presents Blu-Ray DVD Player Review: Pros and Cons posted at The Smarter Wallet.
• Sun presents Rate Updates: EverBank 4.00% Bonus Rate, Capital One 3.40% APY posted at The Sun’s Financial Diary.
• junger presents Instead of Spending, Sock That Cyber Money Away posted at Online Savings Blog.
• Kevin presents How We Successfully Spent $500 on Black Friday posted at No Debt Plan.
• One Family presents Best Value Notebook/Laptop and Netbook/Mini-Notebook Computers - Comparison/Review (ASUS Eee PC, Acer Aspire One, MSI Wind, HP Mini-Note, Dell Mini 9) posted at One Family’s Blog.
• Cooupon Artist presents Avoid Debt And Still Have a Nice Christmas posted at artofthecoupon.com.
• Beeb Ashcroft presents Recycling Centers: How I Get So Many Coupons For Free posted at Super Coupon Girl.
• Debt Free Destiny presents 5 Money Changes to Keep More of Your Money posted at Debt Free Destiny.

economy

as you may know, last month over 500,000 people were laid off from their jobs in the US. huh, i get to be a statistic. with that in mind, i not only don’t feel very bad at all, but suddenly feel quite ‘normal’!

• Junior presents Does The Big Three Crisis Mark The End Of Big Labor posted at Car Commentary.
• J. Money presents Dear employer, PLEASE don’t cut our 401(k) matchings! posted at Budgets are Sexy..

income

i have to mention that i’ve incidentally purchased a few of the books that curt mentions in his post below, including working for yourself from nolo press, so that i can start up my sole proprietorship as a contracting programmer just right from the beginning.

without the security of a regular bi-weekly paycheck, i don’t take money anywhere nearly for granted as i may have before — i can feel that my survival and well-being now is tied more than ever to being able to get out there to find gigs to earn money from.

• Curt presents Recommended Books for Starting a Business posted at PennyJobs.com.
• Welly Mulia presents 4 Ways To Promote An Affiliate Product And The Most Effective One Is… posted at Internet Business Make Money Online With Welly Mulia.
• martin dasko presents Making Money Off Your Friends posted at Studenomics.
• KCLau presents How to manages monthly cash flow posted at KCLau’s Money Tips.

debt & credit

my debt and credit haven’t been doing so great. unfortunately, without the regular income, i have not been able to pay the debt payments as ambitiously. to be on the ’safe’ side and not deplete my remaining cash unnecessarily quickly, i have only been able to make a minimum payment on my most recent consumer debt bill. but i’m happy that that is something, and also that that is temporary.

on a more positive note, i have not been using a credit card at all, only spending what i have in my checking accounts or the cash in my wallet.

• Tom Tessin presents Pros and Cons of Cash Back Credit Cards posted at FCB Blog.
• Jim presents Free FICO Credit Score Estimates posted at Blueprint for Financial Prosperity.
• ChristianPF presents New program to avoid foreclosure posted at ChristianPF.
• Jeremy Simon presents Criminal Charges: Volume XVIII — Thieves aim high posted at Taking Charge.
• Debt Freedom Fighter presents Where Can I Obtain A Loan? posted at Discover Debt Freedom.
• Mr. ToughMoneyLove presents Beware the Cash-Out Re-Fi posted at Tough Money Love: Hard Truth about Money and Personal Finance.
• PFR presents Chase Travel Rewards Card 25,000 Bonus Miles After First Purchase posted at Personal Finance Reviews.
• Silicon Valley Blogger presents American Express Rewards Credit Card Offers A $25 Sign Up Bonus posted at The Digerati Life.
• Mr. CC presents 2% Cash Back From Scwab and -2.7% Cash From Amex posted at Ask Mr Credit Card’s Blog.
• DR presents 0 APR for 15 Months? You Bet! The Kiva Credit Card posted at The Dough Roller.
• Madison presents Free Credit Report and Scores posted at My Dollar Plan.

taxes

i am more sensitive than before about taxes! it’s actually quite intriguing. although people may believe that freelancers might needlessly charge an arm and a leg for their services, what they don’t realize is that the self-employed must handle their own taxes, overhead, health insurance, retirement funds, from the money that they do make. after all of those expenses, they’re really not making all that much as may be believed.

i will be putting aside a third+ of my income from freelancing for taxes and other. i must file taxes quarterly now. i intend to become more vigilant about filing and paying taxes on time (this past year i had an extension for federal, and was late on the state).  and yes, i will take advantage of deductions.  suddenly, taxes have become interesting.

• FFB presents 9 Year End Tax Savings Tips posted at Free From Broke.
• Robert D Flach presents KEEPING TRACK OF BUSINESS EXPENSES posted at THE WANDERING TAX PRO.
• Super Saver presents Year End Tax Strategies for 2008 posted at My Wealth Builder.

investing

hmm.. not much money available right now for investing, i’m afraid. my simple ira from the past employer has been sitting around, awaiting sentence. i will either roll it over to my other ira, to a roth ira, or to a new plan should i decide (or am enabled) to work full-time again.

and of course, i lost at least $12k in value of my ira a few months ago..

• Joe Hayes presents Forex Tips updated Sat Nov 15 2008 12:13 pm CST posted at Forex Tips of Squidoo.
• David C Lewis, RFA presents Roth vs 401k Plans: Why Your Mutual Fund Return Still Stinks… posted at A Revolution In Financial Planning.
• rob presents 20 Real Estate Investing Tips to Becoming a More Profitable Real Estate Investor posted at Two Wise Acres.
• D4L presents Does This Market Have A Bottom? posted at Dividends4Life.
• The Writer presents On Giving Stock Advice posted at The Writer’s Coin.
• James K. presents Plenty Of Time To Contribute To Your IRA for 2008 Tax Year posted at Money Maestros.
• Ripe Trade presents Breakout trade posted at Ripe Trade.
• Intelligent Speculator presents Trading commodities with fundamental news? posted at Intelligent Speculator.
• Fatty presents Moving Average Crossover: Optimization Basics posted at Fatty Fat Fat.
• The Shark Investor presents You Have The Potential To Raise 100 Times More Money Than You Do Now posted at The Shark Investor.

other

lack of steady cashflow yet aside, overall i’d say my lay-off has been relatively ‘good’ for my wallet: i have not been spending much at all beyond necessities, rarely dine out, rarely go out (yes, probably not the best for my long-term mental well-being). i have been sticking to my inexpensive hobby of crocheting such that i only spend a few dollars a week or so and stay at home (thus saving gas money).

never fear — this week i consider myself back in the work force, signed up with my very first freelancing client! a non-profit organization in the area. exciting indeed, in many ways. who knows if i will go back to join the fully-employed, or those employed by others?

• Lauren Rose presents Credit Card Skimmers - Keep Your Eye on Your ATM card posted at No Debt Anymore .org.
• Credit Karma presents Managing Money After Natural Disasters posted at Credit and Personal Finance Blog | Credit Karma.
• Jeff Rose presents Where There’s A Will, There’s A Way posted at Jeff Rose.
• Investing School presents 25 Ingenious Ways to Spend Your Time in the Current Financial Crisis posted at Investing School.
• Dorian Wales presents The Wine Industry: A lesson in marketing posted at The Personal Financier.
• LAL presents Is Black Friday worth it? posted at LivingAlmostLarge.
• Deposit Accounts presents The Painless Guide to Switching Checking Accounts posted at Deposit Accounts.
• Patrick @ Cash Money Life presents WTDirect Sign Up Bonus - Up to $250 Free! posted at Cash Money Life.
• Miss Thrifty presents Hello Frugal Grandma! | Miss Thrifty posted at Miss Thrifty.

thanks for reading.  i hope you return soon to check out my upcoming freelance related articles and updates!

submit your entries for next week’s 43rd edition of money hacks carnival, hosted by liberta. have a great rest of the week! and thanks for stopping by.