(Print this blog post) and keep in your writing book to reference the how-to's, action steps, and checklists.) 

"Many people believe that 'doing things on a budget' means spending as little money as possible, but that is mistaken thinking. A budget simply allows you to count the costs of the project and decide how much you will spend before you even begin the project."
Thomas Umstattd Jr.

You sense the call of God on your life and the inspiration of the Holy Spirit to write a book but one of the first hurdles that looms in front of you is your limited budget.

Should you keep moving forward?

What expenses are you going to incur?

One of the things you DON’T want to do is to try to clear this budget hurdle without “counting the cost,” pun intended!

Jesus said:
But don’t begin until you count the cost. For who would begin construction of a building without first calculating the cost to see if there is enough money to finish it? Otherwise, you might complete only the foundation before running out of money, and then everyone would laugh at you. They would say, "There’s the person who started that building and couldn’t afford to finish it!"
Luke 14:28-30 NLT

As a Self-Pub Coach, I want you to write and self-publish your book with your eyes wide open and your budget in front of you.

Here are 3 coaching tips to help you plan your budget and stick with it:

Tip #1 Don’t be quick to hire everything out just because you see others doing it.

Ask – do I have more time or money? Do I have the capacity to learn how to do this myself?

Decide if you will pursue the traditional or the indie publishing path.

• “Traditional publishing is cheaper upfront but less profitable ($0.80 per book left for the author). And that money goes against the advance you received. Most authors never see royalties. They only see the advance money they got when they signed their contract.” Thomas Umstattd Jr.
• Indie authors get paid every few weeks by the online retailers where their books are sold. But they also have to pay for everything required to create and sell the book, including multiple rounds of editing, a professional book cover, and typesetting software.

Tip #2 Build your money priorities around your goals

What are your goals for this book? You need to determine that first because that will define your budget.

Possible goal #1

I want to keep this simple: write the book and get it published with as little cost as possible. I am writing this book for my family and friends. The cover and interior layout can be simple and I am not going to worry about any type of marketing.

Budget priorities

• Laptop/Computer: Every writer needs a laptop and/or a computer. A laptop gives you the freedom to write at coffee shops or when you are out and about. You don’t have to spend a lot of money on a computer to get started. You can have a laptop in addition to your desktop and sync files automatically. You can install formatting software for your interior book layout.
• Domain Name: Securing a domain name is inexpensive, so even if you don’t plan at this time to continue writing it is a good idea to grab the domain name that fits your branding and book. Personally, I believe you should use your personal name for your domain name.
• Education: Spending money on education pays off. The earlier the better so you have more years to use what you are learning. You maybe can avoid learning lessons the hard way. I would suggest a low-cost membership, mastermind group, or academy.

Possible goal #2

I sense God’s call to write this book, and I want it to get into the hands of many readers because of the transformation it will bring into their lives. My budget is so limited, I need to do most everything myself.

Budget Priorities

These are the five places you should plan to spend money:

1. Website: develop a simple author website and a consistent newsletter and/or blog
   Email service provider
2. Masterclass or Coaching on Self-Publishing: If you’re indie publishing, a group of like-minded writers will be invaluable. As you’re going through the publishing process, there are a million questions you’ll have and it’s nice to get answers from fellow authors who have been down the road before you.
3. Hire a cover designer
4. Find a professional editor

Possible goal #3

Now that I am writing this book, I am starting to get ideas for more books in my future. I will finish and self-publish this book and then I will keep writing as long as God keeps using my passion for writing.

Budget Priorities

• Education
• Consider hiring a developmental editor; developmental editors help shape the big picture
• Step up your game with a professional, genre-fitting cover designer
• Hire a professional to do your interior book formatting
• Increase your marketing with Amazon ads
• Purchase your ISBN’s in bulk
• Attend a writer’s conference
• Purchase business cards
• Get a professional headshot
• Implement a lead magnet

Tip #3 Plan How Much You Will Spend and Where You Will Spend It

"You will have to spend money to self-publish a book. The bottom line: it usually costs between $500-5000 to publish a book in the USA. A lot of that cost comes from editing, book designer services, and marketing." (Kindlepreneur)

Decide how much you will spend, and where the most important place is to spend your money. Here is a list of costs for self-publishing:

Start-up Costs

• Computer: $200-1500
• Domain Name: $15/yr
• Education: Coaching, Mastermind, Academy. $50-300/month

Design Costs

• Website Designer: $500-3500
• Cover Design: $40-1000 for a professional, genre-fitting cover design (avg cost $860) **This is your number 1 marketing tool!
  • DIY: InDesign $19.99/month
  • Canva: $0-10/month
  • Book Brush: $0-20.50/month
  • DIY Book Covers Course: $197
• Book Formatting: you can DIY for $0-250 and a ton of time or hire a book formatter for $50-1000 (formatting software costs $0-250)
  • Atticus: $139.99
  • Vellum: $199.99-249.99
  • InDesign: $19.99/month (steep learning curve)
  • Scrivener: $40 (steep learning curve)
  • Word: $139 (what you see is what you get formatting)
  • Jutoh: $45
  • Reedsy Book Editor: Free (not as robust)
  • Kindle Create: Free (not as robust)

Editing Costs

• Editing: $250-2500
  • Professional: $250-2000 depending on the length of your book
  • Developmental editors: help shape the big picture $0.07-0.12 per word
  • Copy editors: $0.02 – 0.04 per word
  • Proofreaders: $0.01-0.02 per word

Marketing Costs

• Email Service Provider: $0-50/mo
• ISBN: $29.50 if bought in bulk or $125 if bought individually; KDP ASBN is free
• Professional Headshots: $50-$500
• Business Cards: $50

Friend, this is a lot to process, but it is so important to think through your budget. Ask your writer friends for their ideas and opinions. What worked for them? How much did they spend and where?

You are not alone in this journey.

It is possible to FINISH! the book God has called you to write. If we were sitting and having coffee together, I would ask you about your budget and help you start there.

Let’s finish your book together!

Becky Meyerson - Self-Pub Coach

P. S. Do you need encouragement and accountability? Join the next FINISH! Coaching Course Cohort group! Soon you will holding your book in your hands.