Home
>
Writing
>
The Cost of Being a Writer

The Cost of Being a Writer

You are the only one who knows what being a writer means to you.

You are the only one who knows whether you consider it to be a career, or a pleasant hobby.

And therefore, you are the only one who can judge how much you are willing to invest in your writing business.

In this article, we're going to talk about cost in financial terms. Not the cost in time; not the cost in sleep; not the cost emotionally. We're just talking dollars and cents. And we're not going to discuss the cost of a writer's tools (computer, internet access, printer, software), because that has been dealt with in another article. This time, it's all about building your knowledge and expertise.

First, decide whether being a writer is, for you, a career or a hobby. Is it a business or a pleasant way of whiling away your time? If writing is just a hobby, and that's all it's ever going to be, this article is not for you. You can choose to invest money in a hobby, or not. You can pick it up and put it down. This article is for those who are serious about their writing and want to build a business, brick by brick.

1. Setting a Budget

OK. We've established that you are in BUSINESS. That means that you are prepared to invest money as well as time. If you are time-rich and cash-poor, then you can go the long way round and it will cost you less. If you are time-poor and have funds at your disposal, you can cut the learning curve by buying books, enrolling in courses, subscribing to industry magazines and attending seminars. If you are rich in both time and funds, then you're luckier than most.

Look at your income and savings and decide how much you are prepared to invest in your writing business over the course of 12 months. $500? $1,000? $2,000? $5,000?

Let's jump in and look at the biggest figure first. $5,000 will buy you a lot of expertise and networking via seminars, writing products and coaching over a year. It might seem like a lot at first - but $5,000 is just $416 a month - $104 a week. Many people pay more than that off a car loan. Many people spend that on a meal out for two once a week. And countless people spend far more than that on clothes.

At the other end of the scale, $500 is less than $10 a week. That's barely noticeable to most of us. Yet you can subscribe to writers magazines and get some quality critiquing of your work for that amount. You can attend a number of one-day or weekend workshops.

If you still are undecided, think about how much money other businesses invest in their start-up operations and ongoing training. Then look around to see what would help you grow MOST as a writer.

A writing course?
A 2- or 3-day seminar with lots of networking possibilities and big-name writers, editors and publishers?
A critique service to help you with your manuscript?
Books, magazines, and software to help you grow?

It's up to you. Once you have decided (a) what you most need to develop your skills and (b) how much you can allocate to your writing business, be firm about sticking to it. Nothing less than an emergency should deflect you from your course.

2. Paying for Your Business Investment

You can give up something that is not as important to you as your writing business. New clothes, eating out, Starbucks coffee, a gym membership... there are plenty of ways to swap one expenditure for another.
You can get a pert-time job to fund your business. If you want to invest $5000 over a year, you need to make $104 a week. What can you do? Join a party-plan business and do one party a week? Offer a resume-writing service? Clean houses?
Do some gardening; walk dogs; clean cars; wait tables; offer a consulting service in your area of expertise. Depending on your skills and the demand for your services, it might take you a day to make $104 or you might do it in a couple of hours.
You can ask for money towards your writing business instead of gifts for your birthday, Mother's Day, Father's Day and Christmas.
You can volunteer at a writers' centre in exchange for free attendance (or a reduced fee) at workshops.
Join writers' organizations and volunteer to be on the organizing committee for conferences and seminars. This does not always mean a reduced fee, but sometimes does.

3. Re-invest Early Profits for a Faster Business Growth

Most healthy businesses do this. As you build your skills and start to sell your writing, money will begin to flow in instead of out. It probably won't be much at first - but think about re-investing to *further* develop your skills and expertise.

Here's just one example: I've had several writers contact me, after being to a writers' seminar or conference, to ask about writing an article for the Writing For Success newsletter. They are being smart: parlaying their new-found knowledge into income, by passing on what they've learned to others. You could try this too... and use the payment to buy an e-book on writing, or put it towards a seminar.

What if you write an article but the market doesn't pay? See if you can swap an article for a free subscription to a writers' newsletter or a membership site.

4. At The End of 12 Months, Assess and Refine Your Business Plan

It makes good business sense to track your income and outgo. At the end of 12 months, assess the following:

how much you have invested
the return on your investment in (a) dollars, (b) increased knowledge and (c) new relationships and contacts that can help you build your writing business.
decide on your next step(s) and how much you will invest in your business during the ensuing 12 months.

You can, of course, check on your income/outgo/results at the end of 1 month, 3 months, and 6 months as well.

You'll find that a definite plan for investment in your writing business will give you not only a greater sense of control, but a better sense of where your money should be spent for development.

A couple of quick examples:

$500 spent on an intensive novel critique (from a reputable critique service or freelance editor) can save you months or even years of time muddling along on your own not knowing where you're going wrong. This can mean a faster sale and a quicker start to your career as a published writer.
$1000 spent on a seminar or conference can result in your making just the contact you needed to get your novel in front of the right editor. Don't underestimate the importance of face-to-face contact.

Marg McAlister has published magazine articles, short stories, books for children, ezines, promotional material, sales letters and web content. She has written 5 distance education courses on writing, and her online help for writers is popular all over the world. Sign up for her regular writers' tipsheet at http://www.writing4success.com/

pet-friendly home cleaners Morton Grove ...

In The News:

Uber teen accounts now feature live video streaming from the driver's camera, but encrypted recordings stay on Uber's servers for up to 14 days.

Router firewalls and software firewalls serve different roles in protecting your home Wi-Fi from unwanted traffic and suspicious connections.

A Chrome extension with 70,000 users and a 4.7-star rating began injecting fake update warnings after a threat actor acquired and weaponized it.

Amazon's Alexa+ rolls out free to Fire TV devices across the U.S., but hands-free microphones and stored voice data raise key privacy questions.

Meta's new teen accounts settlement sets a default two-hour daily limit on Instagram and Facebook, plus night mode and school mode restrictions.

The CareCloud data breach exposed Social Security numbers, banking information and medical records belonging to more than 3.75 million people.

Waymo reveals its custom 5-nanometer chip and dual computing systems designed to take over instantly if the robotaxi's primary computer fails.

Identity theft now includes account takeover, phone hijacking and payment card exposure. Here's what to look for in identity theft protection services.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

The FBI and Justice Department seized domains tied to QScan and QTRouter, tools allegedly used by China-linked hackers to breach NASA and other agencies.

Uber Eats drone delivery launches later this year through a Zipline partnership, starting in Dallas and Houston with a goal of one million daily flights.

Medicare Open Enrollment scams start with data broker targeting months before October. Learn why August is the time to remove your personal info.

The World Humanoid Robot Games' crashes show how far the technology still needs to go to be useful, "Survivor" reality TV star and robotics scientist Christian Hubicki says.

X-Humanoid's TianGong Ultra ran 100 meters in 9.32 seconds at Beijing's World Humanoid Robot Games, beating last year's winner by more than half.

A tap-to-pay charity scam is turning small $15 or $20 donations into charges of nearly $5,000, with victims losing thousands before they notice.

Kurt Knutsson shares seven emergency preparedness lessons from surviving Hurricane Katrina inside a New Orleans hotel as conditions turned desperate.

A contractor stored credentials in a Google Doc set to "Anyone with the link," and Google Search autocomplete eventually surfaced the password string.

New Orleans 911 uses Carbyne AI to triage repeat auto crash calls, but strict limits keep human call-takers in control of all other emergencies.

A single card skimmer can generate $1 million in stolen funds, and Secret Service video shows criminals installing them in under two seconds.

ChatGPT, Meta AI and Google now use memory, connected apps and past chats to personalize ads and responses in ways most users overlook today.

MagicalAuth by Glide.id uses cryptographic SIM credentials to verify bank logins without sending SMS OTP codes that scammers can intercept or phish.

A humanoid robot named Lightning Bolt ran 100 meters in 9.39 seconds at the World Humanoid Robot Games in Beijing, edging Usain Bolt's record.

An AI agent using Claude AI canceled another person's gym booking after finding a security flaw in the reservation system's authorization checks.

Trump signed a memorandum allowing vetted private U.S. companies to conduct cyber operations against foreign criminal organizations under oversight.

Your Social Security number appeared in a breach, but exposure and identity theft are not the same. Here's how identity restoration actually works.