Sooner or later, we have to accept that life is a series of compromises, and this is especially true in your professional career.

If you are a company employee, it's understood that you must comply with established guidelines and policies, opportunities for promotion may be limited and you'll probably have to spend time working on less-than-desirable assignments. The company may be forced to downsize, and, if it is acquired, your job could be outsourced or eliminated. It happens all the time.

However, if you are a freelancer or are self-employed, you have the freedom to do the work you enjoy, set your own hours, and since you are the boss, you will not be downsized or fired.

There are countless "how-to" books offering strategies for career building and achieving financial security if you are a traditional employee, but similar guides for freelancers and solo entrepreneurs are scarce. That's what makes "The Money Book" by Joseph D'Agnese and Denise Kiernan a unique publication.

If you worked full time for a conventional company, there was no need to worry about funding your retirement plan, your health insurance plan or withholding taxes because these deductions were made before you received your paycheck. When you go out on your own, it's your responsibility to manage your cash flow and still put aside money for retirement and taxes. It's a daunting challenge, but this book is filled with helpful information that will get you off to a good start.

If you are self-employed, you must have a good financial software program in order to track every transaction that applies to your business, whether it's cash or on a credit card. No amount is too small; even a cup of coffee or a newspaper must be recorded. Next, take an honest look at your fixed and discretionary expenses. Once you see exactly where your money is going (especially if you're paying substantial interest on credit card balances), you're likely to find ways to adjust your current saving and spending habits. It's essential to know how much you make, how much you spend and how much you owe.

"The Money Book" goes far beyond the obvious "pay yourself first" principle. The authors outline a simple but effective method for money management. After you set aside enough to meet basic expenses, open separate savings accounts for dedicated purposes, including emergencies, retirement and taxes. These accounts will be funded systematically with set percentage allocations taken from each check you receive, no matter how large or how small

There will always be something that you want/need to have right now, but you've got to resist the temptation to "just charge it" if you want to be debt-free. Saving consistently requires a great deal of self-discipline, but it does work. Once you get into the habit, you'll find that saving will become more satisfying than spending. When your financial priorities are under control, your stress and anxiety levels will often be reduced as well.

Growing your business is essential for success. "The Money Book" will show you how to identify your most important clients and find new ways for serving them better, how to handle disrespectful clients and why networking with other freelancers is important, even if you have to force yourself to do it.

How should you price your services? Is it better to make a low bid on a project or risk losing the assignment? Should you accept every job that comes your way even if you desperately need the money? When an assignment has been completed but the client has not paid you in a timely manner, how can you make sure that you will get your money? These are just a few of the sticky situations that are part of the freelance life, and you'll get the advice you need from those who have been there and done that.

Resources that are particularly helpful for the self-employed are listed, by category, in the appendix. Here is where you'll find the latest information about personal financial software, freelance and productivity blogs, online banks, investment firms that offer small-business retirement plans, and health insurance sites geared to freelancers, along with a list of books specifically selected to educate and inspire those who work on their own.

Countless promising ventures have failed because the pressure and uncertainty of running a business without a steady income became too much to handle; but the authors are determined not to let that happen to you. Their practical advice and unflagging encouragement will keep you moving in a positive direction, even under the most trying circumstances. "The Money Book" is an indispensable survival guide that belongs on the desk of every independent worker who is willing do whatever it takes to achieve success.

"Money Q&A" and "Company Town" are featured exclusively at PG+, a members-only web site of the Pittsburgh Post-Gazette. Our introduction to PG+ gives you all the details.