Yolander Prinzel is a finance and insurance writer/ ghostwriter. Her clients include The Savings Bank Life Insurance Company, Foresight Publishing, LifeTips and her own politically incorrect finance blog, The BIG Little Finance Blog. She also has a snarky community blog for freelance writers called Freelance Writerville
Did you know that the value of your money isn’t fixed? Your money has both a present value and a future value. The present value of your money is pretty easy to determine—just take that fiver out of your wallet and go buy $5.00 worth of something.
I’m sure you’ll have no problem. But what if you took that five spot and tried to buy something worth $6, we’ll wait…oh, you’re back—hey, why do you still have that five? Oh, they wouldn’t let you buy $6 worth of merchandise with $5? Well if you invest that $5 for 2 years in an account or investment earning 5% a year, that $5 will turn in to $6—let’s see them turn you down then.
This concept of the time value of money may not seem important to you right now, but Continue reading How the Time Value of Money Applies to Your Freelance Writing Career