I am very lucky that I do not have to rely on my writing to make a living. One day, of course, I would love to be a full-time author, but that’s probably a retirement dream. But if I had to rely on my writing income, I’d be in dire straits. I have just completed my 2015/16 tax return. (For non-UK readers, our tax year runs – bizarrely – from 6 April one year to 5 April the next year.) Most of my return is to do with my day job – anti-money laundering consultancy – but I do have to include my writing sideline.
So this morning I dutifully retrieved all of my Amazon royalty statements, my bank receipts for cheques from bookshops and cash from speaking events, and all other evidence of my writing income. And then I turned to my writer’s expenses: buying the books to sell to bookshops and at speaking events, membership of the Society of Authors, cover design work and so on. I added it all up and subtracted it from the income. And I can proudly report – drum roll, please – that in the last tax year, being an author cost me £48.77. Yes: I spent more on being an author than I earned from it. So creating the Sam Plank series not only costs me virtually all my free time, it also costs me hard cash – and that’s without counting the cost of my writing retreat in the summer. Rather depressing, but will it stop me? No! Onward and upward with “Plank 4”.
Not depressing at all, as long as you love what you’re doing.
That’s exactly the right attitude, and perfect for me. But it is frightening (on behalf of professional authors) to realise how hard it is to make a living as a writer.
Spending £48.77 on something you love that much is actually a pretty good deal! Looking forward to your next book. More income will follow.
You’re right, Nadine – much cheaper than many hobbies!
Pingback: Riches (are still) beyond my wildest dreams | Susan Grossey