I want to make a living as a writer. A living meaning a decent salary so I’m happy with my monthly income, Erik and I can have Thai food at the Noodle bar when we want to, we can spoil our loved ones at Christmas, we can sock away a decent amount each month to go to Australia or Scotland, and if we need snow tires or a new couch from Craiglist it doesn’t put us one whiff near the poorhouse.
Well, to have these things, I need to figure out first how to make money as a writer. So do you. How do you want to make money as a writer? What kinds of writing will you do? How many hours per week will you be writing? What is your monthly income goal? All of these questions will give you an idea.
But, first things first. There are three main ways writers earn money as authors: direct pay, royalties, and copyright.
1. Direct Pay
Direct pay from writing is one way to pay the bills with your words. This is actually what I do for a living while I’m building up my fiction writing. I am employed by a company out in California, called Demand Studios, that is basically an article-generating machine feeding articles to eHow and other sites. I submit my article and get $18 for each one approved by the copy editors. I’m paid directly for my service.
Direct pay is how many blog writers, freelance writers and journalists earn money. You are employed by somebody, submit your writing and get paid. It’s one way to make money as a writer, and is the most similar to having a regular 9-5 job.
2. Royalties
Royalties are the second way writers make money. I explain more about royalties here. You can also read more about royalties on Wikipedia.
Royalties are a set percentage you earn from offering published writing for sale. Instead of one employer, like direct pay, you have many employers – and they’re called readers! Royalties can be set by agents, publishing companies, and self-publishing platforms like Amazon.com CreateSpace and Kindle Direct Publishing.
My money goal as a writer is to receive 100% of my writing income from fiction royalties.
3. Copyright
The third way writers make money is by selling the story rights to different publishers and editors. You can sell translation rights, movie and film rights, foreign publishing rights, and many other kinds of rights since you own the copyright to your work.
Your writing is viewed through law as a piece of intellectual property. You get paid each time it is re-published under some guise or another. Stephen King receives plenty of money each time someone films one of his books, publishes a story, releases a new edition, and so on.
Each story you write, as long as you retain the rights and don’t sign them over to a literary agent or editor, can be repackaged and resold again and again by using the power of copyright.
4. More Money-Earning Options
In addition to the three main methods for author money-making, there are some other avenues:
- Advertising – Some blog writers put Google AdWords and other sponsored advertising on their blogs. It earns a little money.
- Tutoring – Tutor other writers, tutor school kids, tutor people who need help with resume or cover letter writing.
- Workshops – Teaching is a common way for writers to bring in extra money. Get paid to host a creative writing class, a teleclass, an e-class or any other kind of workshop.
- Conferences – Writers can get paid to appear as teachers or speakers at writing conferences. You need a lot of credentials first.
None of these options have a direct impact on your book sales, but they do help establish your reputation as an expert in your field. Expertise and respect build trust, and trust encourages customers (readers) to purchase your books.
So, there are proven options for making money as a writer. In addition, there are many kinds of writing from which to make a living, including non-fiction, articles, journalism, blogging, fiction, greeting cards, copywriting, and on and on. You can make a living as a writer. You can do this.
You just need to start.
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You have me interested. I’ve been reading, reading, reading to learn the craft, as well as attending college, and taking a much-needed break from writing. That break will continue for the time being, but this post is definitely intriguing to me. I didn’t know there were so many ways to earn, as a writer. Too, I’m emplyed by Demand Studios and haven’t really done much with it. Perhaps I should…
Hi, Jillian! So glad you could stop by.
There are many ways to earn money from writing. Some copywriters earn well over six figures. I’m working towards making a decent living FICTION writing. It’s a journey!
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