How To Make Extra Cash.
Writing is both a blessing and curse. The work is cerebral and tough. The pay isn't always that great. Most writers understand or assume they won't get rich typing. But we can make a great living. Most writers spend all their time earning money from a single source. Whether it's writing articles or books, blog posts or ads- the average writer has a single income stream from his/her work. Not only is this dangerous to your finances, but single-income sources can lead to burn-out and total dependence upon the host source. We can do better.
One of the best things about being a writer is that, even when you're reading past your bedtime, your writing can still be hard at work ranking in some extra income. The trick is knowing how to play the publishing game.
Here are some ways to earn or make extra cash as a writer.
#1. Books
A book can be an evergreen source of income. Books also give authors credibility and help you grow a tribe of loyal readers. The more books you write, the more passive income you'll earn each month provided you market the books well. You only have to write a book once and it pays you forever.
#2. Copywriting
Copywriting is salesmanship in print. This work will require self-educating, but good copywriters can make six or seven figures a year. Every ad you see, every radio spot and every direct mail piece all have a copywriter behind them, enticing us to buy new products and services. You can write full sales letters, small ad copy, web copy and many others. This is a work-for- hire job, where you'll get paid per complete copywriting project.
#3. Create a virtual e-class
Why not use your expertise on writing and publishing to create a virtual class? Once you've written your class text, you can use your lecture materials again and again. Reach out to online learning websites especially those that are specifically for your audience to see if there's a market for your particular specialty. Or offer your fee based class to your own loyal social media following. Speaking of social media, that brings in our next point!
#4. Social media management
Many companies are willing to pay independent writers to take care of their social media postings. You may have to write full Facebook and Instagram posts. You could charge for a single post, or charge by the bundle.
#5. Audio Books
Audio is the only way to consume content while doing something else. We can drive or cook while listening to a book. Some people even have Bluetooth hearing aids where they can broadcast a book without anyone in the room knowing. The listening reader is a different category than the book reader. You can take one piece of content-your book- and turn it into multiple streams of income.
#6. Try investing
Invest a large portion of your writing income in dividend-generating mutual funds. You can easily earn 5-8% annual return on your money without a large risk to your principle(provided you don't need the money immediately). If you build this investment nest-egg as your writing income grows, you can live off the dividends alone. And it's a lot more lucrative than keeping the money in your checking account.
Final Thoughts...
Don't be comfortable. Find more ways to make extra cash especially now that the world is advancing at a quicker pace. The plan is to retire at 35!
Feel free to drop your comments on the additional points you feel should be added. Also make some extra cash as a writer here...
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Written by: Antony Moturi
So how do I start
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