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Article Review: "How to Make the Most of the Money you Earn" by Sage Cohen

Writer’s Digest produces books for writers and aspiring writers without end in sight. Often, these books are collections of articles over a spectrum of a chosen topic with professional writers’ contributions. This is for the format for the current book, Writer’s Digest Guide to Self-Publishing 2015 .

I’d like to offer a brief overview of each article and note on each author over the next several weeks then sum up the entire book.

Writer’s Digest Guide to Self-Publishing 2015 is divided into three main subject areas: 1) Production 2) Management and 3) Promotion. Other sections include author interviews, listings (of professional services to the self-publishing author), resources such as conferences and book fairs, and an index.

The current article, “Making the Most Out of the Money You Earn,” sets forth ideas for financial strategies to make a writing life financially stable: tax strategies, as wells as IRAs, insurance and the idea or a 9-month savings buffer to make the writer less vulnerable to the whims of the ups and downs of life.

Author Sage Cohen is not a C.P.A or a lawyer so she can’t give specific advice, but she does give some good pointers. What about disability insurance for a writer who is making a living writing? If the person suddenly finds s/he can no longer write because of an illness or injury, how will she provide for him/herself? Depending on age and overall health, is disability insurance really a worthwhile investment? (Of course, because of the penalties for people without health insurance, self-employed people have to find health insurance somewhere.)

She also discusses the need to keep business and personal expenses separate, as well as classifications of items that might be tax deductible: i.e., education, promotion, supplies.

Again, this is a good, common sense article that discussing things that anyone who it making or thinking about making a living as making a liking should think about. It doesn’t so much provide answers, but gets a good conversation started, and that is just as important.

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Title: “Making the Most Out of the Money You Earn”

Author: Sage Cohen

Writer’s Digest Guide to Self-Publishing 2015

Section: Management

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©2015 Denise Longrie

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Other articles from Writer’s Digest Guide to Self-Publishing 2015:

Book Cover, Cover Text and Interior

Record Keeping 101

How to Keep Your Manuscript Safe


Image Credit » http://pixabay.com/en/typewriter-letter-font-210640/ by loveprintedvans

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Comments

GemstonePink wrote on March 2, 2015, 10:24 AM

That article sounds like it would be so beneficial to so many. Thanks for alerting us to it.

BrenndaMarie wrote on March 2, 2015, 11:29 AM

When I first started writing many years ago, I belonged to Writer's Digesst

msiduri wrote on March 2, 2015, 11:48 AM

Thanks for your comment. It is certainly a guidepost and anyone who wants to make a living as a writer can take a few pointers as to where to start.

msiduri wrote on March 2, 2015, 11:49 AM

Judging by the amount of email I get from them, I'm family. emoticon :smile:

peachpurple wrote on March 2, 2015, 12:57 PM

it has been a long time since i read a book, how much it cost?

cheri wrote on March 3, 2015, 1:15 AM

This can be of help to those people who have the same concerns. Thanks for sharing this here.

msiduri wrote on March 4, 2015, 10:05 AM

The cover price is $29.99 U.S., $33.99 Canada, but there are often deals you can get through Writer's Digests if you buy a bunch of things.

msiduri wrote on March 4, 2015, 10:05 AM

Thanks for stopping by and leaving a note.