Finance 101 for the Aspiring Writer

There’s an article making the rounds on Twitter in which a writer says she got USD 350k to write 5 books, and how she blew the advances because she thought there was more money coming and no one ‘mentored’ her. But guess what, her books did not earn out, and now she is not only not rich, but still in debt. And her advances have ‘fallen’ to USD 20k. Which is still more than what most writers get for a book. But anyway.

A lot of the stuff in the article appalled me, apart from the figures toute...