Oh, and in regard to having a financial plan, I'd advise writers to keep track of all of their expenses in relation to their writing. Many of them can be claimed as deductions on your income taxes. A weekend conference? An allowable expense. Your annual membership? An allowable expense. A new laptop? An allowable expense. The 8 x 6 foot den you call an office? An allowable expense. There are many online resources and books that specifically address financial planning for freelancers and full-time writers.