By Lisbeth Coiman
Taking the first steps into writing demands an immediate assessment of your finances. The cost of regularly submitting work for publication, attending conferences, or workshops, subscribing to publications, supplies, and other unforeseen expenses consume the usually limited resources of an unprepared emergent writer. Even those who live on writing have to approach their job with a thrifty mentality. Organization and careful planning are the fundamentals principles of writing on a budget.
1. Track every penny
I start my year with an expense tracker on an excel sheet. If your income this year barely makes it above poverty level, be thrifty and watch every penny. If you decide to report your writing as a business, it is mandatory that both income and expenses be carefully recorded for tax purposes. A spreadsheet is easy to prepare and must include mileage, supplies, gasoline, submissions, memberships, subscriptions, and can even cover charge to attend poetry readings. For a complete list of tax deductible items for writers see. Here is another. Continue reading “Six Rules to Write on a Budget”
