(www.thegoldenpencil.com)
The other day a writing buddy of mine called. He was tempted to take a writing gig that paid way less than half of what she normally gets. True, it was a rather unique opportunity with a major trade publisher. If he did this job well he’d have an excellent contact which might lead to more lucrative work in the future. It wasn’t, however, a book, nor did it earn royalties. In my mind, the “might lead to more lucrative work” some day, some time down the road is, well, most often futile.
We’re close so I asked him what …read more

Ugh, almost every time I get a check I put 10% in a savings account I call Prudent Reserve, 10% in another account I call Real Estate, and 12% in yet another account I call tax savings.
The Prudent Reserve is actually the account I use to bridge gaps in my income. It took about 4 years to get any money to “stick” there, but now it’s beginning to be a nice cushion. The Real Estate account was originally intended for just that. When I moved, I paid my first months rent and deposit out of that. The tax savings …read more