Quinisha Jackson-Wright on Personal Finance Writing
facing debt, freelancing, and expanding the conversation
Hiya writer friends,
Today we’re talking about money! Making it AND writing about it.
Money is something we freelancers are thinking about and talking about all the time. Because our income fluctuates from month-to-month, it’s just always something to consider, something to figure out, something to lose sleep over. (Hopefully also something to celebrate, save, and spend on things that make us happy!)
But outside of our little circles of freelance writer banter, the conversations about money and personal finance can be intimidating, obscure, and often kinda worthless, considering they’re so often dominated by white men with full-time jobs. That limited perspective does a serious disservice to all of us who are not white men with full-time jobs. Our financial challenges are different and the solutions we need are different—and those can be hard to find.
Quinisha Jackson-Wright is a personal finance blogger and freelance writer who writes from a perspective that is so often missing in the personal finance conversation. As a millennial Black woman who served in the military and now freelances full-time, Quinisha knows the importance of addressing different experiences, identities, and goals in the personal finance conversation. And through her work, she’s doing just that.
So today I’m asking Quinisha about her path to personal finance writing. She’s got some great advice for freelancers who want to get on top of their own finances and maybe even write about it someday.
Quinisha Jackson-Wright on Personal Finance Writing
BR: What inspired you to focus on personal finance as a freelance writer?
QW: I grew up in what would be considered a middle-class family, where my stepdad was the breadwinner and my mom the stay-at-home parent. We never went without basic necessities, but we certainly weren’t rich. Aside from making sure the bills were paid, there weren’t many discussions about saving for emergencies or retirement, or different ways to build wealth. It wasn’t until I moved out on my own that I began to learn about money through trial and error. I had credit card and student loan accounts go into collections, my cell phone cut off, the whole nine yards. It was humiliating and stressful, and I felt like there had to be another way.
After I got out of the military in 2016, I started thinking again about how to get my finances together. I had some savings but no definite income for the foreseeable future, aside from the monthly stipend I would get when I went back to school in the fall semester. I came across the online personal finance community and although the information was helpful, I didn't see a lot of stories from people like myself, who still had low-income jobs and hadn't tackled all of their debt.
I've always loved writing so I started my blog as an outlet to share my experience and eventually connected with other writers who referred me to clients in the personal finance space.
When you went back to school, did you go for journalism or some other writing degree? If not, I'm curious if you feel like that holds you back at all?
I got my degree in Communication after I left the military. Not exactly journalism but close enough I think. And I've been writing since I was a kid, before I ever thought I could have an actual job as a writer—so I don't feel like it's been an issue.
What's one thing you love and one thing you don't like so much about covering personal finance?
I love to talk about all the different ways personal finance intersects with other parts of our lives, like relationships, mental health, and personal values. I believe money ties in with everything we do in some way, so it's fun to dig into different topics and explore that intersection.
What I don't like as much, is that I sometimes have to write in very broad terms, especially when working with clients. Personal finance seems straightforward but it's actually quite complex, and it's hard to write a thousand-word article that touches on all the different circumstances that impact our money choices.
What kind of clients do you typically write for?
I mostly work with clients in the banking industry who want to create more personal finance content for their customers, as well as content marketing agencies with clients in the financial services industry (banks, lending companies, fintech apps, etc).
What kind of work makes up a typical week for you? How much of your time are you spending on pitches, articles, blogging, client work, etc?
To be honest, I haven't pitched a lot in the past couple months because I personally find it to be very hit or miss, especially since the pandemic started. Most weeks, I spend a few hours a day on a blog post or my newsletter, posting on social media, and catching up on emails or sending invoices. I'm also a research geek so I occasionally go down a rabbit hole online about whatever topic that has my interest at the moment. Depending on what I'm working on, I also have a few interviews each week with sources or calls with client leads.
I love that you offer personal finance advice that's more inclusive of all people and goals, and you offer perspective that's often missing. Has it been challenging to make your voice heard as a Black woman in the world of PF which is historically white-male-dominated? What motivates you to keep at it, even throughout a year that just keeps throwing curveballs?
I think it's challenging to be heard as a Black woman in any industry. I shared a tweet a while ago that said sometimes I think my voice isn't needed in finance until I come across a hot take from a white guy who judges people for buying new cars. Even though I know there are larger systemic issues that need to be addressed in personal finance and beyond, I continue to write because I hope I can be someone other Black women can relate to.
I might not have 100,000 followers or partnerships with major brands but every now and then, I get an email or message from someone who says what I wrote was just what they needed to hear. That's really what writing is about for me so I take it a day at a time even when it feels like no one is paying attention.
Any advice for writers who are interested in breaking into personal finance writing?
My advice is to be as authentic as possible. In my early days of writing about personal finance, I shied away from talking about my unique experience because I thought it might be weird or people would judge me. Then I noticed the really honest pieces I wrote, were the ones that resonated with people the most. There are a million articles out there about how to create a budget or how many savings accounts you should have. Those are fine, but I think if you want to really stand out as a writer in the personal finance space, you should focus on those quirks and what makes you different.
A lot of freelancers are feeling financially insecure since the pandemic started. You've written on your blog about clients dropping off and feeling very anxious about finances yourself. What have you found helpful in staying on track (financially, professionally) and sticking with it?
That's tough to say because I'm still trying to figure things out. I guess the biggest thing, and I know it's hard to remember when you're stressed about money, is to understand what a weird time this is for everyone. We all probably had big income goals this year and the pandemic has shaken that up for a lot of freelancers. It's important to do the best you can and not to be too hard on yourself if your financial situation isn't the best right now. It's also helped me to nurture relationships with other freelance writers and clients I've worked with in the past. Not only are they super supportive but I've found it's easier to get referrals for work through people you have a connection with, as opposed to cold pitching and looking for new clients.
So recently "Writer Twitter" got REALLY WORKED UP about one writer tweeting about how she made 10K+ in one month. As someone who specializes in money stuff, what do you think we should take away from this conversation?
This conversation seems to pop up on Twitter every few months or so, and I think there are always a number of factors to consider beyond the cold hard numbers. I would have to land about 10 assignments per month averaging 1,000 words at $1/word to hit $10k. Not impossible but that's a lot of work. Also, in my experience it's VERY rare to have editors commission that many freelance pieces at that rate on a regular basis.
So the reality is to either do double the amount of work or double your rates. I'm not interested in working 80 hours a week. Plus, most of the industries paying more than $1 per word are highly specialized niches, i.e. finance, tech, healthcare. All of this needs to be taken into account when we talk about six-figure earnings as freelancers.
I think the most important thing, especially for new freelancers, is not to get too hung up on numbers from the beginning. Of course you should focus on making a livable income but more money doesn't always equal a fulfilling freelance career. If you have to work with terrible clients or hustle 24/7 to make $10K a month, it might not be worth it in the end.
My finances were a complete disaster when I started freelancing. I think it's easy to let things slide (things like paying quarterly taxes, keeping track of expenses... i'm still not entirely on top of those things), especially when we're just getting started. What is one personal finance tip you can offer to freelancers who are new to the self-employed game?
I recommend opening a separate checking account for your freelance income.
Before I was making a substantial amount of money from freelancing, I would just deposit payments into my personal checking but a separate account helps you be a little more prepared around tax time. It also helps to have a savings account for quarterly taxes and to set aside at least 20% of your freelance earnings. For me, it feels a little less painful to set aside a small amount of money at a time than a large lump sum every quarter. The sooner you get into the habit of automatically making those deductions, the better.
How did your first New York Times byline come about? Was that a story you pitched?
It was totally unexpected to be honest. I had originally pitched the idea to another publication and the editor said they liked it but then they ghosted me. I was in a Slack group with some other freelance writers, and I asked if they had ideas of where I should pitch since I wasn't having any luck. One of the writers mentioned my idea to a NYT editor and he was really into it. She made an introduction, I sent over the pitch, and the rest is history! It's one of those things you think won't happen until you're 10 years into your career if ever, so the fact that I got the opportunity a few months into freelancing full-time is still surreal.
What's your next big goal (or a small one!) in freelance writing and what are some steps you're taking to get there?
I'm working on a personal creative project that I'm excited about. I don't want to share a ton of details at the moment because it's still in the early stages but it focuses on the challenges of being an entrepreneur, specifically as a Black woman. I'm doing research and interviews with women in my network and it will hopefully be complete early next year. I'll share updates about it in my newsletter so please subscribe!
What is one piece you've written recently that you're especially proud of?
I wrote a piece for Supermaker a couple months ago about why Black women business owners are more vulnerable to scams since the onset of the pandemic. It goes along with some of the topics I cover for my current project, and my editor was great to work with. Plus I love the illustration and layout of the final piece. It's rare for the final version of your writing to turn out exactly how you wanted it, with so many different moving parts in the editorial process, so I was very pleased!
That’s all for today friends. For more on staying on top of your own finances as a freelancer, definitely check out Quinisha’s blog, Money the Wright Way, her newsletter, and follow her on Twitter.
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Stay inspired,
Britany