Author John Scalzi offers some profoundly useful guidance to writers about money, correctly diagnosing most of us having as much financial sense “as chimps on crack.”
It’s a long essay, and I recommend you absorb every word of it. Here are his top points:
1. YouвЂ™re a writer. Prepared to be broke.
2. DonвЂ™t quit your day job.
3. Marry (or otherwise shack up with) someone sensible with money, who has a real job.
4. Your income is half of what you think it is.
5. Pay off your credit cards NOW and then use them like cash later.
6. DonвЂ™t have the cash for it? You canвЂ™t have it.
7. When you do buy something, buy the best you can afford вЂ” and then run it into the ground.
8. Unless you have a truly compelling reason to be there, get the hell out of New York/LA/San Francisco.
9. Know the entire writing market and place value on your own work.
10. Writing is a business. Act like it.
Hilariously, in my marriage I’m the one with the real job.В My wife is a full time self-employed artist. I’m a writer, but a salaried one.