Pay Yourself First Making Money Without Getting Paid
Below is a MRR and PLR article in category Writing Speaking -> subcategory Writing.
Pay Yourself First: Growing Your Wealth Before the Paycheck
Summary:
Even if you're not yet receiving checks for your writing, you can still become financially savvy. One key to financial empowerment is to "pay yourself first." But how do you do this without incoming cash? Set your intention and take action. Here are eight engaging steps to integrate money into your writing journey, even before you receive payments from others.
1. Set Your Intention
Begin by linking your writing with financial goals. Open a separate bank account for your writing endeavors. Label it with something motivational to remind you of your objective.
2. Fund Your Account
Reward yourself financially whenever you submit a query, finish a chapter, or reach a writing milestone. It doesn't need to be much?"even ten dollars per success acknowledges the value of your efforts.
3. Invest in Your Craft
Use your saved funds for entry fees, subscriptions, or expenses like mailing manuscripts. Or save for bigger goals like a writing retreat or conference.
4. Track Your Spending
Your spending reflects your values. Log your writing expenses and see how they align with the time you invest. Prioritize your financial resources to support your writing growth.
5. Appreciate Non-Monetary Rewards
Recognize the intangible benefits of writing, such as personal satisfaction, empowerment, and the thrill of completing projects. These "psychic payments" are invaluable.
6. Visualize Success
Take inspiration from Jim Carrey, who famously wrote himself a $20 million check before he was successful. Create a symbolic check for yourself marked with "Book Advance" and keep it in your workspace.
7. Set Clear Money Goals
Define when you want your work to earn, how much you wish to make, and your minimum acceptable fee. Establish a clear standard, such as only publishing work for financial compensation after a certain date.
8. Dream Big
Plan how you'll use the money from your writing. Consider trips, paying off equipment, or funding more educational opportunities. Ideally, reinvest in your craft.
Connecting money to your creativity can lead to surprising results. By cultivating financial awareness alongside your writing, you prepare for the day when others compensate you for your words. Track the emotions, ideas, and opportunities that arise from your efforts, and enjoy the journey toward making your writing profitable.
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