Ramblings: Writing for a living, Debt management, and You

So I have been thinking a lot about becoming a full time author and the things that I need to accomplish to get to that point.

At the moment I make all of my money from my day job. That is what pays the bills. I spent 40 plus hours there working to be able to keep my roof over my head and food on my table.

In the future I want to be able to make all of my money from my writing. That means that I am going to have to sell a lot of books to be able to do that. The problem is debt load.

Everyone has some sort of debt. If you are lucky that you don’t have any debt, then you are a lucky one, and not the norm. Me, I have lots. Credit cards, mortgage, car payments. I also have bills that come with owning my own home. House insurance, utility payments, property taxes. Throw life insurance, cell phone bills and internet payments and my expenses are quiet high.

And the home owner stuff isn’t that bad. It is the debt part that throws me off. I have a plan to get rid of my bad debt, but it’ll take the sale of my house to do it. Don’t worry, I bought a fixer upper and I have been fixing it up. The sale should be good enough to not only get rid of my debt load, but to be able to have a down-payment for another house as well.

As someone that is seeking to become self employed, I believe that it is imperative that getting rid of the bad debt and unwanted expenses is necessary. Imagine how many books that you must sell to cover the credit card payments of $500. That is a lot of units per month. Easiest way is to get rid of the payments.

So, to all of those that seek to become self-employed like me. Get a financial planner. Get a plan. Get your expenses down. The less units of books that you must sell to be able to live off of your creative outlets the better.

Figure out a way to spend less with still having the same standard of living. I am not advocating you to live in a cardboard box to be able to be self-employed. But I am sure that your family will think that you are when you tell them that you are self-employed.

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