This was originally posted on the blog WRITERLYWITTERINGS.
And, yes, it’s true what they say about the income of the majority of writers, as I know from personal experience. Before I turned indie, late in 2010, my writing income never rose much beyond the £5,000 a year mark. It was only my earnings from Public Lending Right that gave it a once-yearly boost.
That’s one of the reasons I made the decision to leave traditional publishing and go it alone as an indie. My earnings now, while still far from stratospheric, at least give me a reasonable living. Not a fortune at around three times what I used to earn as a trad. Far from the giddy heights of 2012 when sometimes I earned £4,000 A MONTH!
I was so unused to having such a wonderful amount of money coming in that I recklessly squandered most of it, buying new clothes, shoes, household furniture, etc. And then had to take out a loan to pay the taxman!
I’ve learned my lesson now. I even pay the taxman a monthly sum (rather than pay it into a savings account and earn a little interest) so as to keep myself ahead of the tax bills instead of behind and deeper in debt. At least I know I can’t get my hands on it!