Why I adjusted my annual income goal
Why I adjusted my annual income goal
Plus, I share how much I've made every month so far in 2024 as a freelance journalist
You know when your schedule is packed and you’re tired but you don’t want to bail and then one of your plans is cancelled but not because of you and you immediately feel relief? That happened to me today, and actually even a few times last week, as if the universe was looking out for my energy. I spent the entire morning finishing a 2,400-word assignment due today and then in the afternoon I headed over to interview a sculptor at his studio for the next studio visits feature. Before I got back in my car to rush home for dinner and head to the next place, I read a text from Steve that tonight’s plans were called off. Relief. My evening opened up and now here I am watching Olympics dressage (surprisingly captivating) and remembering to send this newsletter.
I thought I’d write about a recent pivot of my annual income goals since it’s a fresh revelation—one I only decided today between assignments. As every month comes to a close, I analyze how I did financially. Did I bring in as much as I had hoped? If I didn’t, how much is the deficit? If I surpassed my goal, how can I distribute that surplus to lower-earning months to fill my annual deficit? This method makes sense to me, so hopefully it’ll make sense to you, too.
This year, I set a high monthly income goal for myself, higher than last year by $1,500. My copywriting contract, plus a few higher paying clients led me to believe it was possible. However, more than halfway through the year, I’m reevaluating. I’m totally okay coming out behind at the end of the year. But I also want to set a goal that’s reasonable. And the goal I set for myself isn’t as attainable given the state of things. Gun-shy publications with shrinking budgets and staffs, not as much work from my copywriting contract as I hoped, and a limited number of outdoor publications with freelance opportunities. Ugh.
Here’s how I changed course: