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Pages
322
Published
2010
The Money Book for Freelancers, Part-Timers, and the Self-Employed
A practical financial guide for freelancers, part-timers, and the self-employed
Learn to manage irregular income, save for taxes, and build lasting financial stability as your own boss.
Most personal finance books assume a steady paycheck. This one does not. Joseph D'Agnese and Denise Kiernan wrote The Money Book for Freelancers, Part-Timers, and the Self-Employed specifically for people whose income arrives in lumps, gaps, and surprises. Across 322 pages, it covers budgeting on irregular income, setting aside taxes, building an emergency fund, and planning for retirement without an employer doing any of it for you.
About this book
Freelancing is a legitimate career. It is also one of the fastest ways to end up broke if you treat your finances the way a salaried employee does. Nobody withholds your taxes. Nobody funds your 401(k). Nobody guarantees next month's deposit. You are the accountant, the benefits department, and the long-term planner all at once.
Joseph D'Agnese and Denise Kiernan built this book for exactly that situation. They are freelancers themselves, and they wrote the guide they wish had existed when they started: concrete, honest, and built around the reality that your income will be uneven and your expenses will not.
The book opens with the fundamentals: tracking every dollar coming in and going out, understanding the difference between what you earn and what you actually keep, and building a personal spending baseline you can plan around. From there it moves into the mechanics of irregular-income budgeting, showing you how to set aside money for quarterly estimated taxes before you spend it on anything else.
A large portion of the book is devoted to the savings priorities that freelancers must handle manually: an emergency fund sized for the gaps between projects, retirement accounts available to the self-employed, and the insurance decisions you face when no employer is covering the cost.
Later chapters address the business side of the practice: setting rates that actually pay for your overhead, invoicing clients consistently, and chasing down late payments without damaging relationships. The authors are direct about the habits that separate freelancers who stay solvent from those who do not.
- Build a working budget that accounts for income that changes every month
- Calculate and pay quarterly estimated taxes correctly
- Size an emergency fund for the reality of freelance gaps
- Choose retirement account options available to the self-employed
- Set rates that cover your true cost of doing business
- Develop invoicing and collections habits that keep cash moving
Published in 2010 by Crown Currency, the financial principles here remain sound regardless of what year you start freelancing. The numbers change; the structure does not.
🎯 What you'll learn
- Track your real income and expenses so you know exactly what you keep after taxes and overhead
- Build a monthly budget that adjusts for irregular, unpredictable income
- Calculate quarterly estimated tax payments before they become a penalty
- Set up an emergency fund sized for freelance income gaps, not a salaried employee's needs
- Open and contribute to retirement accounts designed for the self-employed
- Set project rates that cover your actual cost of doing business, not just your time
- Invoice consistently and follow up on late payments without damaging client relationships
- Make informed decisions about health insurance and other benefits you must now purchase yourself
👤 Who is this book for?
- New freelancers who have just left or are about to leave a salaried job and have no system for managing their own finances
- Part-time self-employed workers earning side income who want to avoid a painful tax surprise
- Creative professionals — writers, designers, photographers — who are good at their craft but uncertain about the business side
- Gig workers and independent contractors who have never set up a formal savings or retirement plan
- Anyone returning to freelance work after a gap and wanting to rebuild their financial habits from a solid foundation
Table of contents
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01
The Freelance Financial Reality
Lays out exactly how freelance finances differ from salaried work: no withholding, no employer benefits, no guaranteed income. Sets up the mental shift you need before anything else.
-
02
Knowing What You Have
Walks you through auditing your current income, expenses, and debt so you have an honest baseline to build every other decision on.
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03
Building Your Spending Baseline
Teaches you how to calculate the minimum monthly number you need to cover your life, which becomes the anchor for all your budgeting and rate-setting.
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04
Budgeting on Irregular Income
Introduces a budgeting method designed specifically for months where income spikes and months where it disappears, so you stop running out of money between projects.
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05
Taxes for the Self-Employed
Covers self-employment tax, estimated quarterly payments, and the habit of setting aside a percentage of every payment the moment it arrives, before you spend it.
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06
Building Your Emergency Fund
Explains why a freelancer's emergency fund needs to be larger than the standard advice suggests and gives you a step-by-step approach to building it on a variable income.
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07
Retirement Without an Employer
Compares the retirement account options available to self-employed workers — SEP-IRA, Solo 401(k), and others — and shows you how to choose and fund one consistently.
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08
Insurance and Benefits
Addresses the real cost of health, disability, and liability insurance when you are buying it yourself and how to factor those costs into your rates and budget.
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09
Pricing, Invoicing, and Getting Paid
Covers how to set rates that reflect your true overhead, write invoices that prompt timely payment, and follow up on overdue accounts without burning client relationships.
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10
Building Long-Term Financial Stability
Pulls together all the prior systems into a repeatable financial routine — monthly reviews, annual adjustments, and the habits that distinguish freelancers who stay solvent over the long term.
Frequently asked questions
Do I need any background in finance or accounting to get value from this book?
No. The authors write for freelancers who have no financial training. The concepts are explained from first principles with plain language throughout.
The book was published in 2010. Is it still relevant?
The core financial principles — budgeting for irregular income, paying estimated taxes, building an emergency fund, choosing retirement accounts — have not changed. Specific tax rates and account contribution limits will differ from current figures, so verify those details with current IRS guidance or a tax professional.
Is this book focused on a specific type of freelancer, like writers or designers?
The authors are writers themselves, so some examples draw from creative freelancing. The financial systems apply to any self-employed person regardless of field.
Does the book cover business formation, like whether to set up an LLC?
The primary focus is personal and business financial management rather than legal business structures. It touches on the practical implications of self-employment but is not a legal guide to entity formation.
Is there a companion website or downloadable worksheets?
The book references tools and resources; check the publisher's or authors' current sites for any companion materials, as online resources from 2010 may have changed.
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