Continuing this post series with a tip for not going broke–financially, emotionally, and socially:
Practice balance–in your finances and in your life.
The first rule of business is that you need to spend money to make money. Well, that may be true, but you can still be smart about where you invest it. Budget yourself and don’t spend more than you can afford. Set aside some portion of your royalties for marketing expenses, and some for necessary ones like editing and cover design. You don’t have to spend a lot to put out a beautiful book, and you don’t have to spend a lot to promote it. Look for free or low cost options online, and skip the print media (those are usually much more expensive and don’t give you nearly as much reach as the Internet).
Likewise, balance your time between your writing job and life in general. Spend time with your family, go out with your friends, take a day or two just for yourself. Get plenty of sleep, and don’t skip meals. Don’t let your passion become your jailer. It’s too easy to get swept up in all the things that you need to or want to do around your books (and believe me, the list is never ending…) and if you let it, it’ll consume your mind, body, and soul. Yes, we all “write” all the time, even if it’s just thinking about that new story we’re working on, or a new marketing technique we want to try out, but you need to be able to switch off every once in a while. Writing is a wonderful thing to do, but it’s not worth your health, your family, or your relationships.