To Monetize or Not: How to Know When to Make Money From Writing

GUEST POST by Melanie Faith — When I started as a writer, I rarely thought about my writing making money.  I just wanted to write as much as possible and get published.

Fast-forward to a couple of years later; I still thought of my writing as a way to fulfill my own artistic goals, but also as a way to supplement my income.

Here are some helpful considerations for deciding whether to try to earn money from your writing or to keep it a hobby based on what your goals are as a writer:

Open to restrictions

Do you feel comfortable writing to deadlines and an editor’s guidelines, such as word counts? Does that specification invigorate you? Or would you rather not have guidelines? It’s common in monetized pieces that writers have to edit favorite passages that are too long or that don’t serve the content.

Must work well with themes

Consider if you like writing with a theme you have not chosen or a style that might not be your own. For some authors, it’s a relief not to have to choose a topic. Many freelance writers see it as a wonderful way to apply skills and curiosity to various topics. Also, monetizing can be a good way to expand your range as a writer and research subjects you might not have otherwise considered.  Conversely, freelancing will drain the energy and time that you could apply to your writing.

Attention to details

Are you organized? Writing for pay requires extra paperwork.  For example, you will need to organize writing assignments in a content calendar or a planner.  Next, you will need to answer clients’ or editors’ emails.  You will need to create invoices for your clients and work with an accountant or a bookkeeper to file taxes.  In addition, you will need to update the content on your website and post on social media frequently.

Don’t forget to balance

How will you balance paying work with your writing and lifestyle? Writing for pay can take as much or as little time as you care to invest—there’s great flexibility. Still, you will need to find a way to make freelance writing work within your already-busy schedule. Also, you must consider how many assignments you can take on before overloading your schedule.

Also, remember that many writers get frustrated or burnt out if they don’t take at least some time for pet projects (here’s looking at you, fourth draft of my novel!) Personal projects easily get shoved to the side to meet paid work deadlines.

Final thoughts

There are wonderful new ways to monetize your writing that weren’t around just a few years ago, like self-publishing an e-book or audiobook. As a writer, you will need to constantly ask yourself questions like: Would monetary return for your hard work add to your fulfillment as a writer and/or sharpen skills that will benefit your writing long-term? Or are you already happy writing whatever you’d like as a hobby, without money and time management entering into the equation?

Great news: this doesn’t have to be an all-or-nothing decision. A mixture of paying gigs a few times a year and non-paid writing projects the rest of the year is always an option (and it’s what I’ve done in my career).

You are welcome to revisit these considerations and adjust your answers based on each project, as more or less time is available for your writing.

Melanie Faith is a night-owl writer, photographer, educator, and editor who has enjoyed drawing for years but just recently started sharing her perfectly imperfect doodles. Her latest book, From Promising to Published, was published by Vine Leaves Press earlier this year. Learn more about her books, art projects, and classes on her website or @writepath99 on Instagram.