Issue 29: Money Matters for Writers
April 2009 
 WOW! Women On Writing
 Issue #29: Money Matters for Writers

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Greetings!


As writers, we pursue our craft with ink pumping through our veins, with a passionate search for clarity, all the while, hoping that someone will take notice of our efforts and those efforts will be fruitful; and sometimes, yes, sometimes, we forget that writing is a business like any other.

Let's face it. We're all concerned with money matters, or we should be. Even if you are a fiction writer creating the next Great American Novel, you need to consider your finances in this tough economy. Don't get me wrong, I'm not the type to think doom and gloom. My true feeling is that the economy is getting better, but taking charge of your finances isn't about surviving, it's about empowering yourself as a writer.

This issue tackles many of the tough money questions many aspiring and professional writers need answered. How do you set up a retirement plan? What about health insurance? What are some of the mistakes other writers make when planning a fulltime career? What are some of the tax issues to consider as a freelance writer? How can you survive as a writer during a recession? What is the best way to make money online?

The experts in this issue provide you with a ton of take-away on each topic. My best advice for digesting this issue is to read all the articles, follow the necessary links, print the resource pages, and make notes in the margin. Or bookmark the individual articles so you can come back and explore the links when you are ready.

So, without further ado, let's explore money matters!

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A big, warm, Thank You goes out to our freelancers & staff:

We welcome freelancer Allena Tapia to the WOW! family and thank her for sharing the Fatal 5: Finance Mistakes Writers Make. Not only does she point them out, she shows us how to avoid them and shares the lessons learned.

We also welcome freelancer Rachel Olivier to the WOW! family and applaud her for providing us with health insurance options for freelancers and the self-employed. With more and more companies cutting health insurance benefits, this article is timely for all who want to stay healthy, wealthy, and wise.

Another big thank you goes to WOW! columnist Marcia Peterson for conducting a fascinating roundup from freelance writers and authors across the country. Instead of our normal 20 Questions column with 1 author, we have 1 big question answered by 20 authors: What are you doing to adjust to these tough economic times? The tips and advice in this article are fantastic, and they help you learn How to Survive as a Writer During a Recession. We welcome back freelancer Thursday Bram and thank her for her article, How To Set Up a Retirement Plan. She takes a lot of the guesswork out for writers, and reminds us that we're never too young to start planning for our futures.

All this talk about money makes me want to take a vacation! But that's one of the things many of us are cutting out of our lives to save money. It is possible though, especially when you combine travel with writing. We welcome freelancer Amy Robertson (who is also interning with WOW! as a graphic designer). We are thrilled with her inspiring interview with Gina Greenlee. Take a trip to far-off countries, solo no less, and find out why Gina's book, Postcards and Pearls: Life Lessons from Solo Moments On the Road, is more than just a travel book--it's about women cultivating a nurturing relationship with themselves.

And, if you are interested in blogging, check out an article I originally wrote for Premium-Green entitled, Get a Blog, Get a Job! It goes a little more in-depth than some of our previous blogging articles, but there's something for everyone--from the beginner to the pro.

And where would I be without my talented senior editor, Annette Fix? Well, I'd probably still think my blogging article didn't need editing...even though it was in desperate need! Thanks, Annette, for your big red pen and your attention to detail.

If you are looking for a freelance editor to polish your manuscript, website content, query letter, or book proposal, Annette now offers editing and development services. You can find out more by visiting www.annettefix.com/editing. She is offering a 10% discount for WOW! subscribers now through the month of May. Just mention WOW! Women On Writing to receive your discount!

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Announcements:

WOW! Women On Writing just found out that we're listed as one of Writer's Digest 101 Best Sites for Writers 2009! This is our second year in a row and we're thrilled. You can see us in the May/June issue of Writer's Digest, under the Genres/Niches category: "WOW! Women on Writing is designed to support women throughout all stages of the writing process."

We'd like to thank all of our readers for supporting us. This is a great honor for all women writers!

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Spring 2009 Flash Fiction Contest

DEADLINE: May 31, 2009 Midnight, Pacific Time.

GUEST JUDGE: Literary Agent, Wendy Sherman

About Wendy: Wendy Sherman launched her Agency in 1999 following a twenty-year career in publishing. Her experience includes being Associate Publisher and Executive Director of Henry Holt as well as positions as VP and Director of Sales, Marketing and Subsidiary Rights at Simon & Schuster and Macmillan. With this experience, the Agency offers a competitive edge to its clients.

Wendy Sherman Associates has an impressive roster of well established, critically acclaimed and award-winning clients that range from literary to more commercial, including Nani Power (Crawling at Night), Howard Bahr (The Black Flower), William Lashner (A Killers Kiss), Liam Callanan (All Saints) and famed actress Rue McClanahan (My First Five Husbands). Attracting a wide range of fiction and non-fiction authors, the agency is especially well known for discovering new writers, including Therese Fowler, author of Souvenir one of the most talked about first novels of the year (March 2008, Random House/Ballantine), which is a Barnes & Noble New Reads Book Club choice, a Book Sense Notable and has been sold in eighteen countries (so far). With two younger agents, Michelle Brower and Emmanuelle Alspaugh, the Agency also attracts the next generation of writers.

Find out more about Wendy Sherman Associates, Inc. by visiting her website: http://www.wsherman.com

WOW! had the honor of interviewing Wendy in our Literary Agents Issue. Be sure to check it out to learn more about this prestigious and talented literary agent.

PROMPT: Open Prompt

WORD COUNT: 750 Max; 250 Min

LIMIT: 300 Entries

Don't wait until the last minute! Enter Today. Visit our Contest Page and download our terms & conditions ebook. Good luck!

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Call for Submissions

WOW! is seeking writers for their upcoming themes:

- The Process
- Self-Promotion

We are also looking for photo essays and video on a variety of subjects: workspaces, tours of author's homes, how-tos, speakers on craft of writing subjects, author interviews, event coverage, balancing work/writing with family, etc. If you have an idea for a photo essay (300-500 words), or a video, please query us with examples of photo essays/video work you've previously completed.

Please review our submission guidelines on our Contact Page (scroll to the bottom) for pay rates and how to submit. We look forward to hearing from you!

To find out about first calls from WOW! please subscribe to our Premium-Green Writer's Markets. We share detailed descriptions of specific articles we need right now. Land one gig and it more than pays for a year's subscription! We currently have over 17 issues--ebooks filled with over 100 pages of markets--available for immediate download with the purchase of your subscription. Join the community that gives back! And write-on!

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On to the issue, enjoy!

 The Fatal 5: Finance Mistakes Writers Make
 By Allena Tapia

Allena Tapia As a writer, money management should be on your short list today, so that you're not starving tomorrow.

Allena Tapia pinpoints five fatal money mistakes writers make and shows us how to avoid them. Being smart about your money today will underscore tomorrow's successes.


MORE >> 


 Health Insurance for Writers: How To Be Healthy, Wealthy, & Wise
 By Rachel V. Olivier

Rachel V. Olivier There was a time when a steady job at a reputable company provided health insurance, vacation, sick days, a retirement plan, and maybe even life insurance. These days, however, having a job doesn't guarantee insurance. While many freelancers choose self-employment with its inherent risks, many have only recently been pushed into it. So what's a self-employed individual to do? Rachel Olivier tackles this tough question and provides solutions that writers can use right now.

MORE>> 


 Get a Blog, Get a Job: How to Start, Optimize, and Monetize Your Blog
 By Angela Mackintosh

Angela Miyuki Mackintosh With the death of print publications, comes the birth of online journalism. It's quite a lucrative market and chock-full of opportunities, but for those new to the platform, it can be a little overwhelming. Angela Mackintosh breaks down the key components you must understand to create a successful blog. The article shows you how to start a blog, how to write catchy content, how to optimize your blog for the web, drive traffic, and make money through a variety of options.

MORE>> 


 20 Answers: How To Survive as a Writer During the Recession
 By Marcia Peterson

Marcia Peterson What are you doing to adjust to these tough economic times? It's a question Marcia Peterson asked working writers around the country, and they were eager to assist fellow scribes with their best suggestions. As it turns out, there are plenty of ways to make money, save money, and make a living as a writer, right now, despite the economy.

20 freelance writers, editors, copywriters, screenwriters, journalists, and authors chime in to share their best tips for keeping their heads above water during tight times: Kelly DiNardo, Megan Cutter, Lisa Rothstein, Melissa Rudy, Nancy Fulton, Daniel P. Smith, Helen Bradley, Diane Y. Welch, Alison Hart, Wendy Burt-Thomas, Michael J. O'Neal, Sally Lloyd-Jones, Ruth E. Thaler-Carter, Jennifer Larson, Kimberly Llewellyn, Carine Nadel, Pat McHenry Sullivan, Michelle Dunn, Dina Rabadi, and Alice Hohl.


MORE>> 


 How 2 Plan for Retirement as a Writer
 By Thursday Bram

Thursday Bram For most writers, as soon as a check comes in, the money is on its way back out again. With the notoriously variable income that goes along with writing, it can seem impossible to put away money for retirement. It's not that writers don't want to eventually retire, but without an employer taking care of all the paperwork, planning for retirement isn't easy. It isn't impossible, though: while writers must take responsibility for their own retirement, there are tools and resources to help. Thursday Bram shows us how by providing us with the necessary links and information we need today to ensure a wealthy tomorrow.

MORE>> 


 Pearls of Wisdom from Gina Greenlee
 By Amy Robertson

Gina Greenlee Imagine yourself traveling to far-off countries, walking through landmarks you've only read about in history books, and seeing sights that previously had only existed in your imagination. Now, imagine getting paid for it. That's exactly what Gina Greenlee, author of Postcards and Pearls did. Here, Gina talks to Amy Robertson about some of the ups and downs of travel writing, but, more importantly, she shares how she summoned the courage to achieve the life she'd always dreamt of, how you can do that, and more.

MORE>> 


 Article: Top 10 Smart Ways to Spend Your Tax Refund
 By Roni Deutch

Roni Deutch Now that tax season is almost over the government will be sending out millions of dollars in tax refunds. But instead of wasting it within hours, consider these top 10 smart ways to spend your refund.

1. Pay down your credit card debt

Credit card lenders typically huge interest rates, so this year why not use your refund to pay down all, or at least part of, your credit card debt? If you have multiple credit cards you should try to pay off those with the highest APR (annual percentage rate) first.

2. Make an extra mortgage payment

If you use your tax refund to pay an extra mortgage payment every year you can drastically reduce the total amount you pay on your loan. By making one extra payment each year you can reduce the life of your loan by up to six years.

3. Prepay major bills

If you have any big bills coming up then you might want to consider prepaying them with your refund. These bills range from annual insurance premiums to orthodontist bills, but can cause problems for anyone living on a monthly budget.

4. Upgrade appliances

By upgrading to energy efficient applicants such as air conditioners or refrigerators, you can actually save money on your energy costs. Additionally, these improvements can also increase the value of your house.

5. Open a college fund

If you have kids, or if you are planning to, it may be a good idea to put your refund away to their future college expenses. Tuition and book prices rise more each year and it is never too early to start saving.

6. Service your car

For many people their vehicle is their only way to get back and forth from their job. If it has been a while since you have had your car serviced it is probably a good idea to take it in.

7. Invest in yourself

By attending a professional conference, learning a new language, or even taking a class at a community college, you can put your refund to good use by investing in yourself.

8. Prepay a future vacation

There is nothing more relaxing than taking a well-deserved vacation. If you worked hard last year then odds are you will have a sizeable refund to show for it. Why not take a vacation with friends or family with part of that refund?

9. Donate it to charity

Making a charitable contribution is always a smart way to spend your tax refund. By helping others in need you can do a great thing and lower your taxable income.

10. Save it for a rainy day

This one technically is not a way to spend your refund, but it is a good rule to have at least 3 to 6 months worth of living expenses saved in case of an emergency. You never know what will happen tomorrow, so you should always be prepared.


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The Tax Lady Roni Deutch and her law firm Roni Lynn Deutch, A Professional Tax Corporation have been helping taxpayers across the nation find IRS tax relief for over seventeen years. The firm has experienced IRS tax attorneys who will fight the IRS on your behalf.


 


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 WOW! BLOG: THE MUFFIN
 Find out the latest from the Bakers of WOW!

The Muffin Have you checked out what we've been baking for you on the daily Muffin? We've stirred together some traditional ingredients with new ones to deliver more interviews, enlightenment, thought provoking ideas, and inspirational messages to help you through those gray writing days.

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Never Stale! Here's the Latest:

Tuesdays are contest interview days!

If you are interested in writing for our contests, check out the interviews with previous Top 10 winners to find out how they crafted their stories.

Fall '08 Essay Contest 1st Place Winner: Natalie Wendt
Interview by Marcia Peterson

Fall '08 Essay Contest 2nd Place Winner: Abby Everett Tignor
Interview by Margo Dill

Fall '08 Essay Contest Runner Up: Julie Donner Andersen
Interview by Anne Greenawalt

Summer '08 Flash Fiction Contest Runner Up: Doris Wright
Interview by Carrie Hulce

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Blog Posts of Interest:

Sybil Baker, Author of The Life Plan, Launches her Blog Tour!
Interview by Joanne Stacey

Sybil Baker starts her blog tour for her fabulous new novel, The Life Plan. It's a not-to-be missed chat with Sybil about her writing process and more. You can even read the first chapter of the book for free, and get hooked like other WOW! readers. 40 comments! Note: This blog tour is still going! Check the dates and join in.

Rachel Dillon, Author of Through Endangered Eyes: A Poetic Journey Into the Wild, Launches her Blog Tour!
Interview by Jodi Webb

Rachel Dillon's new book combines all that she loves: children, writing, painting, and animals. Through beautiful paintings and intimate poems, readers will learn about the lives of twenty-one amazing animals and why they are in danger. In her first blog tour stop at WOW!, Rachel shares the background behind her work, as well as lots of great inspiration for other writers on the publishing journey. 16 comments! Note: This blog tour is still going! Check the dates and join in.

Attention Authors! Bring Out Your Book Trailer
By LuAnn Schindler

Book trailers bring written words to a visual reality and capture the essence of a book's soul in just a few short minutes. Learn about this important marketing tool that can connect you with the people who purchase books.

Does the Library Help You? Enter this Woman's Day Essay Contest
By Margo L. Dill

If the library has gotten you or your family out of a tough financial crunch, helping you save in unexpected ways, then here's a writing contest for you! Library lovers, check it out.

Top 10 Fears of Writers
By Marcia Peterson

Take a look at the results from a survey of writers showing their top fears about practicing the craft. Chances are, you've had at least of few of these thoughts yourself at one time or another.

Words of Wisdom
By LuAnn Schindler

A writer's Page-A-Day calendar offers some wonderful gems about writing. Get inspired!

Common Deductible Business Expenses
By Angela Mackintosh

There's still a little bit of time to do your taxes! Find out what sorts of things you may be able to write off as an expense, as freelance writer. You might qualify for tax breaks you hadn't thought of.

Putting Up a Portfolio
By Alison Diefenderfer

How far can and should online portfolios go? An informal poll for WOW! readers about the whys and hows of keeping an online portfolio.

Pockets of daily writing time
By Elizabeth Humphrey

How can she write as much as she does, as the mother of three? Elizabeth shares her writing routine, and asks you to share your habits too.

The Write Man for Her: (A Great Read) and Interview with Christie Walker Bos
Interview by Margo L. Dill

The Write Man for Her is a great read for a spring afternoon at the park with a picnic and blanket, for a summer day at the beach, or for a winter night curled up in front of a fire. Author Christie Walker Bos chats with Margo about being a romance writer, separating reality from fiction, and writing around a real job. Be sure to also check out Christie's guest posts on crafting the modern romance: Baking a Romance...a Recipe for Success, Part 1 and Part 2.

Calling All Poets for the April PAD Challenge
By Jill Earl

April is National Poetry Month and if you're looking for a way to develop or sharpen your skills, take a look at the Poem-A-Day (PAD) Challenge. Participation is free.

Which is the most important part of the equation? Money? Creativity? Books?
By Elizabeth Humphrey

Elizabeth tries to sort out which is most important: to keep plugging away at writing for traditional publishing? To write your heart out and self-publish to reach your audience (including writing rambling posts like this one)? To keep your eye on the financial bottom line? And where does creativity enter the equation? Join the discussion!

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I know I'm personally going to check her out for my new Wordpress site! And stay tuned for her interview on The Muffin about the things that authors need to incorporate in their blogs to attract readers and search engines.

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 Pitch Your Novel Directly to Editors in New York

New York Writers Workshops Friday - Sunday: May 29-31, 2009

Where:
Ripley-Grier Studios
520 8th Avenue at 36th St., 16th Floor, NYC, NY
www.newyorkwritersworkshop.com/

New York Writers Workshop hosts the three-day Perfect Pitch Fiction Conference for writers of fiction, Friday-Sunday, May 29-31, 2009. At this unique conference, participants meet with and pitch novels to three different editors from major New York publishing houses (e.g., Viking, Penguin, Random House, Scribners, Simon and Schuster).

Before the conference begins, participants boil the essence of their manuscript down to a synopsis of flap copy length (roughly three minutes). The copy should include the book's premise and hook.

How to apply:

If you'd like to attend the workshop, prepare an email with the following information:

- Brief description of your project (up to 100 words)
- What you do for a living
- Contact information: email address, street address, phone

And send it to: Charles Salzberg: [email protected] or Tim Tomlinson: [email protected]

We'll get back to you within ten days to let you know if your application has been accepted and, if so, where you should send your check.

For more information, please visit: http://www.newyorkwritersworkshop.com/pitch_fiction.html

FIND OUT MORE>>


 Mailbox: Letters to the Eds:

Mailbox From: Karen Rigby, WOW! Alumni Member. Karen was featured in our August issue, interviewed by Susan Eberling: Karen Rigby: From Pen & Paper to Published.

Email:

Dear Editors,

I was previously interviewed in the August 2008 issue, and thought this might be of interest to the WOW readership.

CERISE PRESS is an international online (with forthcoming print) journal of literature, arts and culture based in the U.S.A and France. The journal, published three times a year, includes poetry, poetry in translation, interviews, reviews, essays, art, photography and more.We read year-round on an ongoing basis, and welcome queries with ideas regarding articles and essays. The journal is edited by Greta Aart, Sally Molini, and Karen Rigby.


Please visit our website for guidelines: http://www.cerisepress.com
Contact: [email protected]

From WOW: Thank you for the resource, Karen! I'm sure our readers will enjoy it.

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From: Julie Achterhoff

Email:

Dear WOW,

Your words have been so inspiring to me on my writing journey! I have just published my first book with All Things That Matter Press, and have another book underway. I couldn't have done it without you. Thank you so much for all you do.

Julie Achterhoff
Author of Quantum Earth


From WOW: Congrats, Julie! We love success stories like yours. Please keep us updated on your book. Mucho hugs!

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Would you like to send a letter to the WOW Editors? We will answer your questions, post your kudos, comments, suggestions, or anything else you have on your mind. Email us at: [email protected]. We look forward to hearing from you!


In Closing:

We hope this issue has encouraged you to take control of your finances and money matters as a writer. It's all about empowering yourself with the knowledge and tools it takes to continue to do what you love to do--write! We can have the best of both worlds--we can be smart with our finances and prove to all nonbelievers that writing is a career. Yes, it is!

Cheers to a productive writing month! The future is bright.

Warmest,