1. Don’t use a credit card. Note, I didn’t say don’t get one. Definitely get one. Then hide it away for emergencies only. And for those times when you know the cash is already there, but you don’t want to carry it with you. Or if the company gives you reward points or free gifts for your spending. But use it only when you already have the money to pay it off as soon as the bill arrives. Not for long-term credit. If you don’t have that kind of self control, credit cards will send you spiraling into debt. Spend what you have. No more. Absolutely no more. As a freelancer, you simply cannot afford debt. Remember that.

2. Join forces with other writers and creative professionals. Are there other writers in your neighborhood or who live close by who you could meet every few days and share resources with? You could swap magazines and books, loan each other a camera or a pen drive, or let her use your printer for use of her fax machine.

3. Make extensive use of the library and the Internet. Unless the library’s far off, considering spending time there for reading old issues of magazines and borrowing how-to books. Use the Internet too. There are hundreds of websites and newsletters (such as Funds for Writers) which will help you along your career path. There are several free resources by writers who want to see other freelancers succeed. Make full use of them.

4. Focus on the little things. Most people tend to try and save on the big things. But once you’ve fixed on amounts of rent, children’s school fees and installments on the car, they’re only likely to go up. That’s money you will somehow have to cough up. No, look at saving on the smaller things. How much would it save to get an online fax service as compared to buying a fax machine? Realistically, do you need a Macbook Air? Do you have friends who could design your website for you? Could you use free templates and do it yourself?

5. Save, then spend. Instead of paying for that conference through your credit card and then berating yourself for not being able to pay it off, put aside money bit by bit and treat yourself to the conference once you actually have the cash. The conference can wait. Debt will not only wreak havoc with your sanity, but your ability to focus on your writing. Invest in your career. But have your career pay for it.

6. 10% of every pay check? Goes into savings or the retirement fund. Unless you’re on the verge of being kicked out on to the street by your landlord, you can do it. It takes a little bit of planning, and a tiny bit of self-control. Think of it as money you don’t have. And while you may feel the pinch right now, you’ll be less miserable when you actually do need those savings in years when work is slow or you want to retire. Even if you don’t, it’s a cushion. We all need that.

7. Have a monthly personal spending budget. $100 or 200 that you’ll spend only on yourself, or that you won’t spend but can save for a conference or something you want. This is your personal money to play with. Use it to go shopping, buy beers, take a road trip, whatever. It’s important to have this money, not only because it’ll stop you from feeling like your whole life is revolving around saving cash, but also because the point of making money is so that you can enjoy yourself. So do it. Enjoy yourself.