How Textbroker Pay Works and Ways to Manage It

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Content mills are a great way to get experience as a new freelance writer. But how does a company like Textbroker pay its authors? And what should you do with the money once it’s in your account?

In reality, it all depends on what your financial goals are and what you’re willing to do to set money aside.

Textbroker Pay is Distributed Every Friday

When writing for Textbroker, you are paid every Friday. That is, as long as you claim your money in time. The process works like this:

  1. You write content for clients on Textbroker Friday through Thursday.
  2. If clients accept the article, the money they pay you is kept in a cash pool in your account.
  3. On Thursday night, you manually log into the system to claim your money before midnight.
  4. You then get Textbroker pay the next day.

The cut off time limit on Thursdays will vary from region to region. For instance, I can claim my money before 1:00 am and still get paid the next day. Which means Textbroker is running on West Coast time.

If you miss the Thursday deadline to claim your money, it’s held in your account and added to the following week.

This means you can accumulate quite a bit of money over time if you don’t request a payout. You don’t have to worry about the money disappearing on you.

I’ve had money in my Textbroker account for several months at a time because I simply forgot it was even there.

Textbroker Uses PayPal to Pay Authors

To use the system efficiently, you’ll need to have a PayPal account. This is the preferred method Textbroker uses to pay its authors.

Normally, PayPal charges a fee for inbound money. However, Textbroker covers these fees for you. So if you submitted a payment request for $107, you’ll have $107 paid into your PayPal account.

I’ve had my PayPal account since 2003, and it’s been very good to me. Since I have a PayPal debit card, I have immediate access to Textbroker funds as soon as they make the payment.

I’ll go over that in a moment.

It’s also convenient to have a PayPal account when you start accumulating private writing clients. This gives you a great method for getting paid while having immediate access to the money.

That is, unless you decide to move the money to your bank account. At which point, it could take a minimum of one business day from PayPal.

Saving Textbroker Pay for One Lump Sum

You don’t have to claim your money each week. You can let the cash sit in your account for weeks or even months at a time. This means you can use Textbroker as a kind of savings account and just keep accruing cash with each order you complete.

I’ve heard of some authors using Textbroker throughout the year to save up for one big payout at Christmas.

My point is the money is yours. You will not lose it if you don’t request a payout every Thursday. Which is convenient as some writers like the idea of a bi-weekly or even monthly pay schedule.

Using the PayPal Debit Card

One thing I suggest you get is the PayPal business debit card. This isn’t overly difficult to get, although you do need to submit quite a bit of information to prove who you are.

And since you’re a freelance writer, technically it’s a business account.

The PayPal debit card is a Mastercard. This means you can use it virtually anywhere that accepts the major credit company. In fact, I have yet to come across a location that doesn’t accept my PayPal card as a form of payment.

This debit card gives you instant access to any Textbroker pay or funds you get from other clients. Any time someone sends you money in PayPal, you can use the cash immediately with the card.

This is incredibly convenient as you don’t have to wait for PayPal to transfer funds to your bank account.

In essence, PayPal is your bank account.

Managing Your Textbroker Pay

Once you get your Textbroker pay, then what? Do you pay bills or go on a shopping spree? This depends on what you’re using the content mill for.

However, I do suggestion you consider the following. As a freelance writer, these points are quite important when it comes to your financial future.

Save for Taxes

Each year, Textbroker sends out a 1099 for its authors. This displays the amount of money you made on the system for tax purposes. Since Textbroker doesn’t take anything out for taxes, all of this is on your shoulders.

Which means you need to save up a bit, especially if you make a lot of money using the system.

I try to send 10% of what ever is paid out to a savings account or some kind of long-term investment.

For instance, I like using Stash Invest to hold onto money. You can buy portions of ETFs, or Exchange-Traded funds, which are often more resilient than ordinary stocks.

Using Stash, I can buy a part of a $50 ETF for only 10 bucks. This way, it keeps it out of my hands until I desperately need it.

This doesn’t mean you should invest in stocks, though. In fact, you should find a way to save that fits your specific needs.

The point is you need to save for taxes if you want to avoid an audit. Chances are good that you’ll have to pay each year.

Vacation Time

Something else you need to consider is taking vacations. As a freelance writer, you most likely don’t have access to paid leave. This means you need to save twice as much as anyone else if you want to go on vacation.

You’ll need money for the vacation itself and enough cash reserve to make up for the time you’re not writing. Unless you’re like me, who winds up writing while on vacation anyway.

Textbroker pay relies on your ability to produce content. If you’re not productive and submitting orders to clients, you’re not making money.

And since you probably won’t work while on vacation, you need to make sure you can sustain yourself after losing those days of not writing.

Sick Leave

Freelance writers also don’t have access to paid sick leave most of the time. And nothing is worse than trying to create content when you have a 103 degree temperature.

You’re far more likely to make mistakes and could inadvertently damage relations with Textbroker clients.

Make sure you set a bit aside for those days when you’re under the weather. That way when you’re sick, you don’t have to sweat about trying to make money to pay your bills.

Retirement Fund

Planning on retiring as a freelancer? You need to save a bit of money for that as well. Textbroker pay isn’t going to include a 401k. You need to handle all of that on your own.

Luckily, there are a number of ways you can save for retirement. Savings accounts, mutual funds, stocks and more are easily accessible.

The biggest thing you need to keep in mind is the earlier you start saving, the easier it is to retire. With enough money set aside, you could retire comfortably much earlier than you thought.

Use Your Textbroker Pay Wisely

Paying your bills is only a portion of financial responsibilities. Since you are responsible for everything as a freelance writer, you need to distribute your money wisely.

Otherwise, you could be in your 70s still cranking out content for paying clients when all of your friends are relaxing on the beach.

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Michael Brockbank

Michael has been a freelance writer since January of 2012. He has completed more than 6,000 jobs for a variety of clients ranging from animals to travel.

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