Tracking Author Expenses
Are you tracking your expenses? A few weeks ago I shared a post on being aware of people scamming authors for money and I didn’t realize that not many authors had any idea on what or who they spent money on. Money is one of the reasons authors invest so much into marketing.
Let’s face it we all want to generate as many sales as possible. Too often we’re buying the swag, bookmarks, and stationary we don’t need. When the credit card bill finally arrives, we wonder when did all this happen. Especially as you get serious as an author, it may see like a swipe here, a few dollars there, but in the end it all adds up and over a year, you’ll see a dent in your wallet.
Tracking Author expenses
I’ll give you three reasons why you should track expenses.
-Margins/Profits
The first reason is because an expense tracker can help you understand where you’re heading. Are you earning as much as you spend? Are you breaking even? If you’re lucky are you registering profits? What is the percentage margin you received from each of your works? I started a tracker at the beginning of 2017, because it was quite clear, my costs had escalated with running a website, hosting a podcast and doing professional work. Now eleven months later I can see how I’m doing financially. Were all my decisions sound? (No!) Did I make the right investments? Am I losing or losing more? 
