For Authors: Cultivating a Money Mindset for Success

As an author, you’ve likely heard advice about “writing for passion,” “writing what you love,” and “the art of storytelling.” But in the world of publishing, there’s another essential component of your career that deserves attention: your money mindset. How you think about money, success, and value can dramatically impact your writing career and financial outcomes. Please note, I am not a financial advisor (!), but I did want to share some tips to cultivating a healthy author money mindset:

What is Money Mindset?

Your money mindset is the set of beliefs, thoughts, and attitudes you hold about money and how it influences your financial decisions. It’s how you perceive your ability to earn, save, and manage wealth. Your mindset shapes how you approach your writing career, how much you value your work, and how open you are to opportunities that can bring financial growth.

In essence, money mindset is about aligning your mindset with abundance and opportunities, rather than scarcity and limitation.

Principles of a Positive Money Mindset for Authors

1. Value Your Work

One of the biggest challenges for many writers is understanding the value of their work. Too often, authors undervalue their writing or hesitate to charge what they’re worth. If you think of your work as valuable, others will too.

Principle: Your time, creativity, and expertise are worth compensation. If you don’t treat your writing as a valuable commodity, no one else will either.

Take a moment to reflect: Would you ask for less than you deserve in any other job? Your writing is an investment of time, effort, and creativity. It deserves to be compensated fairly. Don’t be afraid to ask for a reasonable payment, whether that’s through royalties, advances, or flat fees for freelance projects.

2. Embrace Abundance, Not Scarcity

An abundance mindset means believing that there is plenty of success, money, and opportunity for everyone. Scarcity thinking, on the other hand, is the belief that there’s not enough to go around. When you adopt an abundance mindset, you’ll see opportunities everywhere, rather than obstacles.

Principle: There is enough success for all writers, and you don’t have to compete for limited opportunities. Embrace the idea that your success doesn’t take away from others’ success.

As an author, it's easy to fall into the trap of believing that there’s only a limited number of readers, agents, or publishers. But the truth is, readers are hungry for new stories, and your voice is unique. When you let go of scarcity thinking, you open yourself up to more opportunities – whether that’s through traditional publishing, self-publishing, or creating new revenue streams like audiobooks or courses.

3. Set Clear Financial Goals

Having a clear vision of what you want to achieve financially can help you stay focused and motivated. Whether you aim to generate a certain amount of income per year from book sales, grow your passive income streams, or secure a specific advance from a publisher, setting clear goals is the first step toward financial success.

Principle: Set concrete financial goals that are specific, measurable, and achievable. Track your progress regularly to stay on track.

Think about your ideal financial scenario. Would you like to earn a living purely from your books? Or maybe you’d like to diversify your income with writing workshops, self-publishing, or freelance opportunities? Once you identify your financial goals, you can create a plan to achieve them.

4. Be Open to Multiple Income Streams

As a writer, your primary income source may be book sales, but don’t limit yourself to just one stream of revenue. There are multiple ways to monetize your writing and expand your financial opportunities.

Principle: Diversify your income by exploring additional streams, such as freelance writing, speaking engagements, teaching writing workshops, or creating digital products like e-courses or printables.

You don’t have to rely solely on traditional book sales or advances. Consider offering services like editing, ghostwriting, or consultation. You can also turn your expertise into revenue by creating products or services related to your writing niche.

5. Learn to Budget and Invest in Your Career

Being a successful author isn’t just about earning money – it’s also about managing it wisely. As an independent contractor or self-employed individual, managing your income and expenses is crucial to sustaining long-term success.

Principle: Budget your earnings carefully, set aside money for taxes, and invest in your career by purchasing tools, attending conferences, or hiring support (such as editors or marketers) to improve your craft.

When you treat your writing as a business, you’ll understand that investing in your career is essential. From attending workshops to hiring professionals who can help you with marketing or cover design, these investments can help you grow as an author and increase your earning potential.

Overcoming Limiting Beliefs Around Money

For many writers, limiting beliefs around money can hold them back from fully embracing financial success. These beliefs often stem from childhood, societal pressures, or past experiences. Identifying and reframing these limiting beliefs is a key step in cultivating a healthier money mindset.

Common Limiting Beliefs:

• “I can’t make money as a writer.”

• “Writing is a hobby, not a job.”

• “There are too many other writers out there; my work will never be successful.”

• “I should just be happy with whatever I earn from my writing.”

How to Overcome Them:

• Challenge the belief: When you catch yourself thinking these limiting thoughts, challenge them. Ask yourself: “Is this really true? What evidence do I have that contradicts this belief?”

• Reframe the belief: Change the narrative from one of limitation to one of opportunity. Instead of thinking, “I can’t make money as a writer,” try, “There are many ways to make money as a writer. I am open to exploring new opportunities.”

• Visualize success: Use visualization techniques to imagine your ideal financial situation. Picture yourself earning a living from your writing and receiving compensation that reflects the value of your work.

Building a Prosperous Author Career

Creating a prosperous career as an author goes hand in hand with a healthy money mindset. Here are a few more tips to help you build a financially successful writing career:

• Invest in your skills: Continuously improve your writing through courses, workshops, and feedback from others.

• Build an author platform: Marketing and building an audience are key to sustained financial success. Consider starting a blog, growing your social media presence, or creating a newsletter.

• Stay organized: Keep track of your income, expenses, and financial goals so you can stay on top of your finances.

• Seek support: Don’t hesitate to hire financial advisors, agents, or bookkeepers who can help you manage your money more effectively.

Remember, your creativity is worth investing in. Treat your writing like the business it is, and you’ll open the doors to greater opportunities, financial growth, and lasting success.

The Rollercoaster of Being an Author

Being an author is a bit like riding a rollercoaster – minus the fancy harness and the thrill of knowing you’re in a well-maintained amusement park. Instead, picture a rickety rollercoaster built in your backyard by someone who may or may not have passed a basic safety inspection. It’s a wild, unpredictable ride, but somehow, we all sign up for it willingly.

Let’s take a (lighthearted) look at the ups and downs of being an author. Buckle up – there’s bound to be some dramatic plot twists along the way.

1. The “I’m Going to Write a Book” Moment (The Dreamer Phase)

The journey starts with excitement. You’ve just had an epiphany. "I’m going to write a book!" you declare with the enthusiasm of a caffeinated squirrel. The world is your oyster, and the book you’re about to write will definitely be the next big thing. Maybe you’ll even get a movie deal out of it. Hollywood, here you come!

The reality: You stare at a blank screen for hours wondering what the heck you were thinking. Those creative ideas? They’re lost somewhere between the fifth cup of coffee and your third emotional breakdown of the day.

2. The Writing High (When the Words Flow Like Wine)

This is the best part: you’re in “the zone.” Words are pouring out of you like they’re on sale, and every sentence feels like a masterpiece. You write 50,000 words in two days and start casually Googling “book tours” and “how to deal with fame.”

The reality: You’ve written 3,000 words, and now you’re debating whether “a” or “the” works better in the opening sentence. Plus, you spent an entire afternoon rearranging the books on your bookshelf for no apparent reason.

3. The “Why Am I Doing This” Phase (The Slump)

Just when you think you’ve got this writing thing in the bag, doubt creeps in. Is anyone even going to read this? Will my mom buy a copy? What am I even saying in this book? The plot takes a nosedive, and suddenly your characters are arguing over trivial things like whether they prefer cats or dogs, and you’ve lost all sense of where the story is going.

The reality: You spend weeks rewriting the same two paragraphs, wondering why your characters seem to have developed an unholy obsession with tacos. Are you even good enough to finish this thing? Spoiler alert: You are.

4. The Editing Rollercoaster (The Emotional Whiplash)

You’ve finished your first draft. Congratulations! Now, the fun begins. Cue the sound of editors sharpening their pencils. You get your first round of feedback and suddenly feel like you’ve been hit by a bus. Your beautiful prose has been marked up with enough red ink to start a crime scene investigation.

The reality: You cry. Then, you go through your manuscript again and realize they’re right. That scene? Terrible. That character arc? Ugh. Maybe they’re just doing you a favor. Time to rewrite, again!

5. The Query Process (AKA The Rejection Gauntlet)

So, you’ve edited your manuscript, polished it to perfection, and now you’re ready to share it with the world. You send your query letters to literary agents, your heart beating in your chest like it’s trying to escape. You wait. And wait. And wait some more.

The reality: In a few weeks, you receive a form rejection. Then another. And another. And another. You even start thinking that perhaps your book has somehow offended the literary gods. But, as all writers know, it only takes one “yes” to change everything.

6. The "Oh My Gosh, I’m Published!" Moment (The Moment You Don’t Expect)

Finally, after what feels like a century of effort, your book is published. You did it. It's out there for the world to see, and now you’re living the dream, with books flying off shelves (or, okay, maybe gently trickling through sales channels).

The reality: You realize that writing the book was just the beginning. Now you have to market it. Social media posts, interviews, book signings... you’re living in a whirlwind of self-promotion and convincing strangers to buy a copy of your book without sounding like a walking advertisement.

7. The “Are You Sure This Is My Life?” Moment (When You Get an Unexpected Review)

The first time you read a glowing review of your book, it feels like you’ve just won a Pulitzer. “I knew I had it in me!” you think, grinning at your reflection in the mirror, practicing your acceptance speech for the next award show.

The reality: A few days later, you get a one-star review. You spend several hours overanalyzing the review, Googling “how to survive a bad review,” and making your friends read it so you can feel validated. Then, you remind yourself that the review probably came from someone who really likes cats, but not your book about dogs.

 8. The Never-Ending Loop (Repeat, but with More Coffee)

Once you’ve finished one book, you swear you’ll take a break. A nice, relaxing vacation. Maybe a little time off. But then, the writing bug bites again, and before you know it, you’re back at your computer, starting the cycle all over again—this time with the wisdom of knowing that, no matter how rough the journey gets, it’s worth it. 

The Final Verdict: It’s All Worth It (Right?)

At the end of the day, being an author is a wild, unpredictable ride. There are plenty of highs, plenty of lows, and probably a few moments when you wonder why you didn’t just take up knitting. But the joy of sharing your story, touching readers, and seeing your book in print (even if it’s on your own bookshelf for now) is enough to make it all worth it.

So, embrace the ups and downs. Celebrate the small victories (like hitting "send" on that query letter) and learn from the moments of doubt. Keep writing, keep pushing, and keep laughing through the chaos. After all, if we can't laugh about it, what’s the point?

Happy writing, and remember: You’re not alone on this rollercoaster ride. There are plenty of us screaming along with you.

To you and your book!

Setting Good vs. Bad Writing Goals: A Quick Guide for Authors

As authors, setting goals is essential to keep us on track and motivated. But not all writing goals are created equal! The difference between good and bad goals can make or break your productivity and growth as an author.

Bad Writing Goals:

❌ "Write 5,000 words every day." – Unrealistic and unsustainable. Consistency is key, but this kind of pressure can lead to burnout.

❌ "Finish my novel in a month." – While it's great to have a target, focusing on completion at the expense of quality can lead to rushed, unfinished work.

❌ "Become a bestselling author - immediately." – Success takes time. It’s important to focus on the journey, not just the destination.

Good Writing Goals:

✅ "Write 500 words a day, five days a week." – Achievable and consistent. It allows for flexibility while keeping momentum going.

✅ "Complete one chapter a month." – Breaks the process down into manageable chunks and encourages steady progress.

✅ "Edit one page a day." – Focus on quality over quantity to refine your writing and strengthen your story.

Remember, good goals are realistic, specific, and motivating. They focus on the process and celebrate small wins rather than just the end result.

So, what’s your next writing goal? Let’s set some realistic and meaningful ones together! 📚✨

How Hobbies and Outside Interests Make You a Better Writer

As authors, we often find ourselves buried in the world of our books – plotting, writing, revising, and editing for hours on end. But have you ever stopped to consider how the rest of your life, outside of writing, can influence your work?

Hobbies and outside interests can make you a better writer, enrich your creativity, and even help you avoid burnout. After all, writing doesn’t exist in a vacuum; it’s shaped by everything you experience and enjoy outside of the written word.

If you focus exclusively on your writing, you might limit your creativity. Hobbies and outside interests give you the chance to recharge, explore new perspectives, and expand your imagination. Here’s how:

New Experiences Fuel Creativity

The world is full of ideas, waiting to inspire your next plot twist or character development. Whether it’s trying a new sport, learning to cook, traveling to a new place, or getting involved in a community project, these new experiences offer a treasure trove of sensory information, emotions, and stories that can enrich your writing.

Example: You might gain a deeper understanding of human emotions from volunteering at a local shelter, or new sensory details from hiking in the mountains. These are the kinds of experiences that make your writing more authentic and vivid.

Breaking the Routine Sparks Fresh Ideas

Staying in the same environment day after day can cause your writing to feel repetitive or stagnant. Stepping outside of your normal routine can help your brain break free from creative blocks. Hobbies like painting, photography, gardening, or even knitting give you a chance to work with your hands and engage in something that doesn’t require constant thinking.

Pro Tip: Taking a walk, playing a musical instrument, or getting involved in a hands-on activity can help your brain reset and approach your writing with fresh eyes. Sometimes, a solution to a plot problem might come to you while you’re focused on something else entirely.

Hobbies Help You Recharge and Avoid Burnout

This is HUGE. Writing for long periods (or doing any activity, really) without taking breaks can quickly lead to burnout, especially when you're juggling deadlines or struggling with self-doubt. Hobbies provide you with a healthy escape that allows you to disconnect from your writing and focus on something fun or relaxing.

Example: If you love to read but feel “burned out” by the pressure of your own writing, take a break and immerse yourself in someone else’s world for a while. Alternatively, diving into a hobby like painting or hiking can help clear your mind and rejuvenate your creativity.

Developing New Skills Improves Your Writing Craft

When you develop new skills or explore different interests, you also enhance your problem-solving abilities, focus, and discipline – traits that are directly transferable to writing. For example, learning a new language can improve your understanding of structure and syntax, while mastering a musical instrument can sharpen your sense of rhythm and pacing in your writing.

Tip: Even something seemingly unrelated, like learning to juggle, can help with focus and mental agility—skills that can come in handy when writing complex scenes or managing multiple plot threads!

Hobbies Bring You into Contact with Different People and Perspectives

Many hobbies lead to connections with people from diverse backgrounds, cultures, and viewpoints. Whether it’s joining a cooking class, participating in a book club, or playing a team sport, engaging with people who have different experiences and worldviews can help you craft more well-rounded characters and authentic dialogue.

Example: Let’s say you join a community theater group – your interactions with actors, directors, and playwrights can introduce you to new ways of thinking about performance, character arcs, and emotional depth.

Use Your Hobbies To Can Enhance Your Writing

Here are a few specific hobbies and activities that can inspire your writing in surprising ways:

Traveling

Experiencing different cultures, languages, foods, and landscapes can offer an incredible wellspring of inspiration for setting descriptions, character development, and story ideas.

Tip: Even local travel—exploring new neighborhoods or hiking a trail in your hometown—can help you see the world in a new light.

Cooking or Baking

The sensory experience of cooking and tasting food can enhance your ability to describe sights, smells, textures, and tastes in your writing. Plus, the process of following a recipe or experimenting with ingredients can inspire creativity in your writing process.

Tip: Think about how food can symbolize emotions, relationships, or culture in your story.

Music

Learning an instrument or simply listening to different genres of music can sharpen your sense of rhythm and pacing in writing. Music is emotional, and it can teach you how to evoke deep emotions in your readers.

Tip: Use music to influence the tone of a scene – think about how a specific melody or rhythm could mirror the mood of your characters.

Art and Painting

Art helps develop your observation skills. It encourages you to focus on detail, color, and composition, skills that are invaluable when writing descriptions or building immersive settings.

Tip: Try sketching scenes or characters. You might discover new aspects of your story as you attempt to capture them visually.

Gardening

Tending to plants teaches patience, attention to detail, and an understanding of growth and cycles. These lessons can translate to how you develop characters or plot arcs that evolve over time.

Tip: Use gardening metaphors in your writing to illustrate themes of growth, nurturing, or resilience.

Sports and Physical Activities

Exercise is a great way to clear your head, release stress, and improve your focus. Plus, many sports teach strategic thinking, teamwork, and perseverance—all useful traits for writing compelling characters or navigating complex plots.

Tip: Use the discipline of sports training as inspiration for characters who push themselves to reach their goals.

So, the next time you feel stuck, frustrated, or exhausted, consider stepping away from your manuscript and engaging in a hobby you love. Whether it’s a walk in nature, a cooking class, or trying out a new craft, you’ll return to your writing refreshed and ready to tackle your next chapter with new perspective.

To your book!

Megan

Guest Post: 5 Uncommon Writing Tips for Beginners

The world is awash in a sea of writing tips and advice. Every writer has their own approach to the craft and, as a result, their own opinions.

The good thing for you as a budding author is that you have a wealth of information to learn from. It’s up to you to work out which is useful and which isn’t, and you do that by trying things out.

In this guide, you’ll hopefully walk away with a few more things to try as we cover some more uncommon writing tips for beginners.

Let’s dive in.

1. Think About Character Development

If you’re writing a novel and you have your cast of characters all ready to go, it helps to think about the journey that those individuals are going to go on. This isn’t just a physical journey, getting from point A to point B, but an emotional journey. How do they respond to the great events you put them through? How does that shape them as people?

Our stories and characters are subject to The Butterfly Effect too. Every action has a consequence and how a character responds usually corresponds with how they develop in the story.

For example, Frodo Baggins from Lord of the Rings on his quest to Mount Doom runs into obstacle after obstacle. Yet he carries on, it doesn’t let it break him. And this helps him grow as a character.

2. An Important Writing Tip: If You Can’t Work Out the Plot, Focus on Conflict

One of the ways you can help encourage your characters to grow and develop is to place obstacles in their path. These challenges test their skills and their resolve and helps them advance forward.

Much of the time, if you can’t think of what could happen next in the story, ask yourself what your characters want—usually the end goal of the story. Then ask yourself what can you do to stop them from achieving that?

Then list all of your ideas. You can call these points of conflict and you can litter the road for your characters with them.

So one of the best and most important writing tips you can keep in mind is to try and think of ways to stop your characters from getting what they want. You’ll have plenty of plot ideas before you know it.

3. Try Starting with The Theme

One element of writing that many writers struggle with is theme. And it’s understandable as to why.

Theme, or the premise of the story, is in my experience poorly explained. Given the vagueness of the concept it also comes with vague explanations. However, here’s a simple one: the theme of a story is what it’s actually about, what the very point of you telling this story is.

For example, the point of Lord of the Rings was to prove that good can overcome evil, even despite the odds against them. And that you should always hope that good will win.

This is then demonstrated through the story and the characters.

So, thinking about the point you’re trying to make first can help build a structure for everything else because everything should tie back to that theme.

4. Don’t Edit Until After Your First Draft

Writing a story is a process and as part of that process, you’re in no way expected to write something perfect with your first draft.

The manuscript you create evolves over time. It’s analysed, critiqued, and shaped until finally, you reach a point where you can change it no more.

A lot of writers talk about feeling the temptation to go back and fix things as they’re writing that first draft. This can be a dangerous thing to do.

Completing a draft is all about building momentum with your writing. If you’re able to develop a habit where you’re writing a few thousand words a day, you don’t want to disrupt that. Keep it going for as long as you can. And one of the best ways to help you do that is to refrain from looking back.

You may think of glaring plot holes as you plough on, but if you can, just make a note for later that you need to fix it.

5. You Don’t Need to Write Everyday

Many people start writing as a hobby, something to fill their void of spare time. However, it’s an infectious pursuit and soon you may find the desire to write taking over.

We may then become locked in a battle with time. Many of us have to work to live and that takes up a lot of time. And then there are the woes of life itself to contend with.

It’s important to appreciate how much time you have to write. If you only get an hour a week, it’s unreasonable to expect to write a novel in six months.

The more time you put into it, though, the more you’ll get out of it.

But what you can put in is still tremendous progress. Every word you get down on paper is a step toward achieving your writing goal. Don’t beat yourself up for not getting more done. Just do what you can and keep focusing on the finish line.

Writing a big project like a novel is very much like running a marathon. The mental challenges are the same. And they’re often the trickier ones to overcome.

In Summary

Embarking upon a creative writing project is one of the most exciting things you can try. But as you wander into the creative wilderness, you’ll soon find traps aplenty. However, by taking the time to read up on advice like this, you’ll navigate your way without issue.

Above all, stay focused on that end goal. When drafting, avoid editing. And if you get stuck with the story along the way, think about conflict and theme and that should help reveal solutions for your character development too.