Paula Munier wrote a very sober and educating article about important financial rules for us writers. Thank you very much for this interesting lesson, Paula!
on Career Authors:
Recently, a writer named Heather Demetrios wrote a blog called How To Lose A Third Of A Million Dollars Without Really Trying, about, well, the title says it all.
Basically, she recounts the story of her getting two six-figure deals for her books, only to lose all the money because she didn’t know anything about finance.
She says no one—not her publisher or her agent or her advisers or her fellow writers or anyone she ever met—warned her about the vagaries of publishing (or life, apparently).
How you can get two six-figure deals and write all those books and still not have a clue about how the publishing business works escapes me…. But for all of you who don’t have a clue about how the publishing business works, here are some rules for you.