John Scalzi has ten practical money tips for writers looking to make a career out of writing. Scalzi has written a lot about money and writing on his blog - and the points he’s making are interesting:
- You’re a writer. Prepare to be broke. Sad but true. And even more unfortunate is the news that even Edison died broke and he was a genius.
- Don’t quit your day job. Best way not to be broke (see above point). You know it makes sense.
- Marry (or otherwise shack up with) someone sensible with money, who has a real job. Scalzi has come under fire for this one. Personally, I couldn’t agree more. Having a partner who is smart with money has saved my ass more times than I can count.
- Your income is half of what you think it is. This is one of those things that should be obvious - not that I had ever thought about it. There is one nice thing about Ireland - writers don’t pay taxes on money earned from creative works.
- Pay off your credit cards NOW and then use them like cash later. How many have fallen for that trap?
- Don’t have the cash for it? You can’t have it. Reluctantly I agree. No matter how shiny it is…
- When you do buy something, buy the best you can afford — and then run it into the ground. This point just makes sense, whether you’re a writer or not.
- Unless you have a truly compelling reason to be there, get the hell out of New York/LA/San Francisco. I’d make a case on this for Dublin too - except that I live there.
- Know the entire writing market and place value on your own work. Charge what you’re worth, not a penny more or a penny less. If you don’t know what that is - ask the union.
- Writing is a business. Act like it. Wear a shirt and tie to work? No. Just take it seriously.
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Something else worth reading: Harvard papers are to go online - free.