Keep Mind and Body in Balance

Writing is a very demanding profession. At times—especially when payment isn’t forthcoming or problems arise with editors—it can be extremely stressful. And stress can play havoc on your health and your writing. It’s a vicious cycle.

The impression most people have of writers is that words just spill forth with little effort—that ideas just appear. But for most writers, this can’t be farther from the truth. Most people, albeit most writers, believe writing to be entirely a mental process. But to make sure your mind is in good shape to write, you must make sure your body is also in good shape.

No, you don’t have to go to the gym every day, but regular exercise is one way to make sure your mind is sharp. And if your mind is sharp, then your writing will improve.

Consider playing a sport. Swim during the summer. Ski, especially cross country skiing, in the winter. Play tennis or basketball. Whichever sport you decide on, make sure it’s one that offers opportunity for rather vigorous exercise. And while playing golf will get you outdoors, the leisurely walking—and for many riding—around the course won’t do it. Bicycling would be better. But if you choose to cycle on level ground and cruise along most of the time, you won’t get very much exercise. Even a walk around your neighborhood each day will invigorate your writing.

There’s a definite connection between the moving body and the thinking mind.

But exercise alone isn’t enough. You must also make sure that your diet offers you the energy that you’ll need. A balanced diet, enhanced by plenty of fruits and vegetables and whole grains, will serve you well. Stay away from trendy foods and especially processed foods.

Sugars provide energy, but too much sugar provides you with a false sense of energy. Sure, you’ll get a sugar high, but that won’t stay with you. And to maintain your mental abilities throughout the day as you write, you need foods that will give you energy that stays with you. The same can be said for caffeine. The more caffeine you take in, the less sharp your mind will be. Above all, avoid processed snack foods like chips and such. Stick with natural snack foods like fruits and nuts.

Some writers get out and do things that contribute to their writing. Ernest Hemingway went out into the world and actively participated in life. While he may have gone a bit overboard—no one says you have to go fight the bulls—he experienced life to the fullest and then wrote about it. Everything he did influenced his writing in some way. On one hand it may have been the experience, itself, while on the other it may have been details that he then included in his stories.

It’s easy to work continuously throughout the day. Once you get going, you may not realize that you’re doing nothing but sitting at your computer. Make time to get up and move. Go outside and take a deep breath of fresh air. Go for a walk. You’ll be glad you did.

Bookkeeping Tips to Make Your Life a Little Easier

For many writers, bookkeeping can be a drudge. But there are ways to streamline it and make it easy enough that it won’t dominate your life.

No matter which of the three bookkeeping systems you choose—simple checkbook, single-entry journal, or the more complicated cash-disbursements journal—you’ll also need to have an easy way of filing  backup receipts. You should have something—receipt, invoice, canceled check or petty cash ticket—for every expense. Make sure before filing these receipts that they indicate all of the important information—date and amount paid, to whom paid, check number or cash payment. Keep these receipts for business expenses filed separately from any personal expenses. You can use one of those accordion files divided into 12 compartments—one for each month—or 12 envelopes or a box in which you store receipts in monthly bundles. Whichever way you choose, be consistent.

The first step in recording your expense receipts is a program like Expense Director from Iambic.com. This program allows you to record your expenses on your smartphone or personal assistant. Then you can sync the device you’re using to your computer to save and store your expense notations. After you record your expense amounts, place the receipts for that month in a box. Make sure to put a check mark on each receipt after you record it. At the end of the month, bundle that month’s receipts for storage.

A program like Expense Director allows you to create spreadsheets of monthly expenses easily and quickly. You can also sort your expenses so that you have all like expenses together. If you don’t have a spreadsheet program, get one. It comes in handy for lots of other records, too.

All funds received or disbursed from your freelancing business should pass through your business checkbook. Your monthly bank statement should be balanced against your receipts/disbursements spreadsheets, as well as verifying your checkbook balance.

Record all cash receipts in the proper column by category. If you're working part-time, you can keep the data in the same spreadsheet, but keep the receipts in a separate column. If you regularly receive rent or other such income from another source, separate those receipts also.

Record gross receipts and net receipts, if you have both, at the same time for more ease in figuring your taxes. Be accurate when you record figures across the page. They need to balance both horizontally and vertically. You’ll want to balance each page monthly, then record the balances on the balance spreadsheet.

You’ll find it handy to have a calculator with a printout tape. It’s also helpful as proof of balances during any tax audit. As you balance each page of your spreadsheet, you can file the tape with your backup material—receipts, invoices, petty cash tickets, etc.

If you’re following the above procedures, you’ll be able to check your accounts receivables each week which will let you know if you have any slow payers. You’ll also be able to check you accounts payables, your bills, to see if you can pay ahead to take advantage of any discounts.

And every month, you’ll need to post your income and expenses and balance your books. You’ll also need to prepare a profit and loss statement, balance your business checking account, balance and file any petty-cash receipts, and do anything to prepare for taxes. And one last thing: You’ll need to rebill any slow payers. Doing all of this should keep you on financial track.

10 Ways to Keep Your Bank Balance in Check

Thanksgiving Weekend always seems to be the time when people look for bargains, especially on Black Friday. But as a freelance writer you need to look for bargains all year long. The best way to stay ahead of your bank account is to follow these easy steps.

1. Try to keep a cash reserve in your account to cover the slow months. Use it only for this purpose and replenish it as soon as possible. An easy way not to overdraft your account is to make this cash reserve invisible. In other words, set your ending balance without taking it into account. So when you’re at zero, you’ll actually still have money in the bank. This allows you to not only keep some money aside but also to avoid those high overdraft fees.

2. Another way to keep your income safe is to open a special savings account and deposit all your income in it. Then transfer funds to your checking account as you need them to pay bills. This method works especially well with a sporadic income flow.

3. To make bill paying more efficient, create a Bill Pay Sheet. At the top list all the months in two rows. Under them, list your regular monthly bills set up in categories—mortgage or rent, utilities, credit cards, insurance, etc. Next to each bill listing put the date due in parentheses, followed by the amount you need to pay that month. You can then add up all your bills to see how much you’ll need that month. Cross out each bill as you pay it to keep yourself on track.

4. Synchronize your accounts receivable with accounts payable as much as you can by your early planning method. Know when you’re supposed to be paid, and if you don’t receive payment within a day or two of that date, let your editor know.

5. Apply for credit with your suppliers. If you’re on friendly terms, ask to pay on a periodic basis, if need be, especially if you have established a good credit rating. Explain that your income arrives in spurts instead of on a regular weekly, biweekly, or monthly basis if this is the case. Some suppliers may be willing to bill you on a two-,three-, or four-month basis—allowing you a discount if you pay early. Talk this over with them, explaining it saves them billing and postage costs. Another possibility is to open credit accounts that allow you to pay in three-month or six-month installments with no interest if paid within the allotted time. This works well with car and dental care.

6. Slash expenses to the bone. You can only cut corners so far. But a close analysis of your budget may uncover frills that you can do without briefly without hurting your professional stance. You’ll be amazed how much you can cut your budget and still live a healthy and happy life. Doing this will not only make you more efficient, but will make you the envy of your friends.

7. You might be able to apply for a short-term bank loan for your business, but chances are no bank will loan you the money. Banks are in business to make money, so unless you’re borrowing $50,000 or more, the usual minimum for a small business loan, you’re out of luck. You might want to check credit unions you, your spouse, or other family members may belong to. A last ditch effort may be to borrow some money to hold you over from a family member or friend—this normally isn’t a good idea, however.

8. Join forces and share some of your expenses.  Get together with other local writers or even friends to share services.

9. Take a temporary part-time job. If you do work part-time, try to work at a job that is somewhat related to your writing or the subject matter that you write about. This way, you won’t be wasting your creative energies.

10. You might try applying for a grant. This, like a bank loan, is a slim possibility. Remember, while there are loads of grants out there, unless you can meet their requirements, they might as well not exist. And if you do apply for a grant, be sure to follow the instructions to the letter. If you don’t, you’ll surely be rejected.