US/EN
Writer Finances (Personal & Professional)
By Li Yun Alvarado
By Li Yun Alvarado
I know us creative types don’t always like to talk finances, but ask yourself this:
Who is our silence around money actually serving?
I believe it’s beyond time we have more honest, open conversations about the role money plays, and, to be more precise, the role financial (in)stability and (in)security plays in our ability to live the creative lives we crave.
Look, I “squandered” away about a decade of potential retirement savings by choosing to live the life of a “gradual” student (as my husband jokingly call it).
I have no regrets!
I loved getting my PhD, but that choice had financial consequences, and I could bury my head in the sand and ignore that reality, or I can get clear on where I am now and what I need to make happen going forward.
I choose getting clear and that choice feels empowering.
The books below have helped me gain that clarity and they might help you too.
Some of these tackle personal financial matters while others focus in on financial issues specific to authors.
Disclaimer: I am not a financial professional or lawyer. The recommendations below are based solely on my own personal experience and should not be taken as specific financial or legal advice for your situation. If you have financial or legal questions, please consult a professional.
Disclosure: This bookshop contains affiliate links; if you buy anything while visiting my shop, I may earn a modest commission at no cost to you. Thank you for supporting my work in this way!
The Business of Being a Writer
Jane Friedman
$25.00 $23.00A great primer on the business aspects of writing and publishing. Part Five "How Writers Make Money" goes into detail about the various ways writer earn and pay for their writing lives.
Estate Planning For Authors: Your Final Letter (and why you need to write it now)
M. Buchman
$9.99 $9.19No one wants to think about estate planning and yet dying is one of life's few guarantees. As authors, it's important to think about how we'd like our literary legacy to live on after we're gone, and make it easy for our heirs to execute our wishes. This book is a good primer on what to consider when tackling the literary portion of your estate -- especially for self-published authors.
I Will Teach You to Be Rich, Second Edition: No Guilt. No Excuses. No Bs. Just a 6-Week Program That Works
Ramit Sethi
$15.95 $14.67I believe that before you can get a handle on your professional finances, it is key to get a handle on your *personal* finances. This book was transformative for my family because the 6-week program was accessible and actionable. We made key changes based on Sethi's advice, and we finally wrapped our heads around our current financial circumstances, financial plans, and financial future. Getting our personal finances under control gave me the mental space to turn my attention to my writing and writing-related finances.
The Calling: 3 Fundamental Shifts to Stay True, Get Paid, and Do Good
Rha Goddess
$25.99I'm reading this one now, and haven't gotten to the "Get Paid" section, but so far I'm loving the methodical approach to tapping into my calling and having my financial future aligned with the good I want to do in the world. Will update this review when I'm done!
Real Artists Don't Starve: Timeless Strategies for Thriving in the New Creative Age
Jeff Goins
$16.99 $15.63This book can inspire you to take a more entrepreneurial approach to your creative life. Full of stories of little-known and well-known creatives who did not starve.
You Are a Badass at Making Money: Master the Mindset of Wealth
Jen Sincero
$16.00 $14.72Honorable mention: This one is all about money mindset and I found it useful when I first began being more intentional about the financial aspects of my writing life. It's a little more woo/manifesting though, so if that's not your thing you might want to pass.
Raising Financially Fit Kids (Revised)
Joline Godfrey
$22.00Honorable mention: Sometimes the best way to learn about something, is to figure out how to teach that thing to your kids. The first edition (though I can't seem to find it in the second edition), had the best definition of money I've ever read (I photocopied and posted this definition on my cork-board): "Money is a tool for achieving and maintaining independence. Saving is good; accumulation for its own sake is not. Spending is best done wisely and within one's means (though a bold purchase or investment may also be an act of wisdom); greed is not good. Giving generously is part of one's responsibility to the human family; shepherding wealth is an act of respect--to the past and the future. Money is an energy (not a commodity) that can be used for evil or for good."
Financially Ever After: The Couples' Guide to Managing Money
Jeff D. Opdyke
$16.99I didn't *love* this book as much as the others (borrow don't buy), but it was helpful to me early in our marriage, so I thought I'd mention. If you can get past this author's self described "crass" tone and the heteronormativity, this book lays out a useful: "10 questions every couple must ask," and offers no-nonsense advice on how to manage the complexities of finances between two people. I also appreciated the attention to the relationship between money, emotions, and values.
I Will Teach You to Be Rich (Second Edition): No Guilt. No Excuses. No B.S. Just a 6-Week Program That Works
Ramit Sethi
$29.99In case you prefer audio books -- this is how I "read" I Will Teach You to Be Rich.
Li Yun Alvarado is the author of the poetry chapbook Words or Water. Her work has appeared in VIDA Review; The Acentos Review; and Aster(ix) among others. Through her writing, advocacy, and teaching, she strives to amplify Puerto Rican and other underrepresented voices while supporting aspiring and emerging writers -- especially women writers of color. She holds a PhD in English from Fordham University and is an alumna of Acentos, VONA, and AROHO. Li Yun grew up in NY, lives in CA, and takes frequent trips to Salinas, PR to visit la familia.
Disclosure: This bookshop contains affiliate links; if you buy anything while visiting my shop, I may earn a modest commission at no cost to you. Thank you for supporting my work in this way!