Pay Yourself First Making Money Without Getting Paid

Pay Yourself First Making Money Without Getting Paid

You might not be used to​ depositing checks earned by the​ sweat of​ your pen (yet). That doesn’t mean you can’t start becoming financially savvy with your writing. One of​ the​ top tips for becoming financially empowered is​ to​ pay yourself first. How can you do that without incoming cash? Set your intention,​ and take a​ little action. Here are eight fun steps to​ make money a​ part of​ your writing,​ even before you get paid from others.

1) Begin by setting your intention to​ marry money with writing. Do this by opening a​ bank account for your writing life. Get a​ savings account and label it​ ‘writing’ or​ another inspiring name that will remind you of​ your intention.

2) Fund your account by paying yourself when you submit a​ query,​ finish a​ chapter,​ or​ achieve some other writing success. Don’t wait for others to​ acknowledge your progress. it​ doesn’t have to​ be a​ lot; even ten dollars for each success reminds you that you value your efforts.

3) Use your writing funds to​ pay for contest entry fees,​ subscriptions,​ and all that postage you’ll need to​ mail your monster-sized manuscript. Or,​ earmark your account for a​ big reward for your writing such as​ a​ writing retreat or​ conference.

4) How we​ spend our money reveals what we​ value. Keep track of​ your writing-related expenditures. Make writing a​ priority and investigate how you can shift your financial priorities to​ support your writing. Keep a​ log of​ your writing money and see where you are spending more money than time on​ your writing.

5) Calculate the​ return of​ ‘psychic payment’ on​ the​ writing you do. These include the​ side effects,​ or​ benefits,​ that you get from doing something. Psychic payments from writing could be: feeling of​ satisfaction with yourself,​ surge of​ power from expressing yourself,​ excitement over completing and submitting something. How do these non-monetary rewards ‘pay’ you?

6) Take a​ tip from Jim Carrey,​ a​ supremely successful creative person. Carrey wrote himself a​ check for 20 million dollars and carried it​ in​ his wallet during his struggling actor days. Try this for yourself. Write a​ whopping check and in​ the​ memo line,​ put Book Advance. Carry it​ around or​ post it​ in​ your writing zone.

7) Make your money goals clear. Write down when you’d like to​ put your work into the​ world for pay,​ what you’d like to​ get paid,​ and what you’re willing to​ work for. Set a​ standard for yourself and stick to​ it. For instance,​ your intention might look like this – After January,​ 2006,​ I publish only for payment in​ money (not clips or​ copies).

8) Get dreamy. What will you do with the​ money you earn from writing? You might take a​ trip,​ pay off your computer or​ fund a​ writer’s conference. Write down your big vision of​ how you will spend your hard-earned cash. I suggest funneling the​ money back into your writing.

You will be surprised at​ the​ results of​ connecting money to​ your creativity. By bringing awareness and financial focus to​ your writing,​ you prepare yourself for the​ day when others pay you for your words. Keep track of​ emotions,​ ideas,​ and external events that stem from your efforts. Take steps toward putting your work out there for pay. And have fun with it!

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