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Playing the Weekly Writing Paycheck Game

Am I the only silly one or do you guys play the paycheck game? For those of you who are not familiar with the game, the object is to constantly increase one’s weekly paycheck from month to month.

Here are the rules:

  1. The first month of the freelance writer’s paycheck game is all about setup and preparing for the next month. You must track every penny you earn for the month. At this part of the game, accuracy is key.
  2. At the end of the first month take your monthly earnings and divide it by 4. For those of you who like getting paid bi-monthly divide your monthly earnings by two. Personally, I like getting paid weekly
  3. Here’s where patience comes in. During the first month, while you’re earning money, you cannot spend it when it comes in. I know it’s difficult especially for Demand Studio writers. Receiving weekly pay is tempting. I’m not so tempted because all of my sources pay monthly.
  4. The following month pay yourself ¼ of your prior month’s earnings every week. I know, I know, some months have more than 4 weeks. Modify your income accordingly. I tend to keep my monthly pay at 4 times a month.

The Goal

The primary goal of the payout game is to increase your weekly payout each month. So, if you earn $800 one month, your weekly pay will be $200. Your goal is to increase that number the following month. If you earn $850 the following month, the subsequent month’s weekly pay Salarywill be $212.50.

In the beginning, it may be a bit tough to do. You’ve got to set up your monthly bills in accordance with your pay.

The majority of my income is paid via PayPal, however, there are a couple who directly deposit the money into my checking account. The monthly checking deposits usually account for about ¼ of my monthly income. Therefore, I pay myself 3 times a month and allow the direct deposits to be my fourth paycheck.

If I’m not happy with my weekly paycheck, that means I have to put my nose to the grindstone to give myself a raise.

I’ve managed to increase my residual pay by $78.18 a week since January. Although that doesn’t sound like much, try walking into your boss’s office halfway through the year to tell her that you want an additional $78.18 a week in your paycheck…

{ 3 comments… add one }
  • prerna August 3, 2009, 6:11 am

    Hi Felicia,
    This is an interesting game to play and you sure have me hooked. I would start tracking my income this month onwards, since this would be my third month writing online, so hopefully, income would be better..
    Would keep you posted about how it goes..

    Best wishes always
    .-= prerna´s last blog ..The Start of A New Month. The Beginning of My Suite 101 Experiment =-.

  • Kristi August 4, 2009, 9:38 pm

    Hey Felicia-

    Definitely count me in as this sounds like a great plan and game too.

    Kristi

  • Tawnya February 25, 2011, 2:04 pm

    i am loving this it sounds like a solid plan. I am putting this into practice.

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