Did you know that the average American Millionaire has 7 streams of income? Yup!

What does that mean?

That means one of the best ways to accumulate and maintain wealth, is to make money from a variety of sources.

The average American Millionaire has 7-streams of income. Today I'm learning how to add 1… Click To Tweet

 

My favorite way of making money is through passive income. Passive income is income received on a regular basis, with little effort required to maintain it.

Examples:

– Rental property

– Royalties from music

– Dividends from stocks

– Cash-back on reward cards

– Royalties from publishing a book

 

Today we’re going to focus on royalties from publishing a book. Your book….

Have you ever thought about becoming an author? Yes, YOU! It’s easier than you think. What if I told you I am a #1 Amazon Best Seller. Yup! My book,  The One Week Budget has been #1 more times than I can count.  And I did it with no prior experience and you can too. I’ll show you….

 

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(sidebar: you can get my book HERE.)

Watch this video I created just for you. How to self-publish….

 

My Best Book Tips:

 

1) Write about what you know: Everyone is an expert in something. Are you a cook? Awesome at driving? Do you know how to write a killer resume? Remember this, you know how to do something better than someone else. Figure out what it is & show them how in a book.

2) Make sure your cover is readable (especially when small): This is critical. Covers can help sell your book. If someone can’t read what it says, they won’t buy what you have to say. I share how to make sure your book stands out in the video.

3) Give advance notice: Think about your book launch like a movie premier. Get folks excited about the day it launches by giving them sneak peaks way in advance. Use your social media channels to tease them until launch day.

Not sure how to launch your book? Here’s an awesome book I used to help me launch a new project that yielded me nearly 6-figures in one month…

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4) Convert your book into an ebook: Ebooks are outselling physical books. Make sure to convert your book to a Kindle-ready version as soon as possible. In the video I share how to price your ebook so it sells.

I just learned that self-publishing a book is easier than it looks! #LiveRicherAcademy Click To Tweet

The tool I used:

 

I used CreateSpace: https://www.createspace.com/, to self-publish. They are AWESOME. It’s an Amazon company

Also, it’s FREE!! Isn’t that awesome?! They get paid a few ways:

1) If you use them to do design work on your book (I had my own designer).

2) When your book sells, they keep a % (for example or every $15 book I sell via CreateSpace, I get $10). They keep the $5 to print and ship the book and for a profit for themselves. So it’s a great deal, because it would cost me more than $5 just to ship a book on my own, not including printing it.

They even sell your book on Amazon and other sites, like Barnes & Noble, for you for FREE! I also like how if you buy 1 or 100 books it’s the same discount price to you. I pay $2.31 for my own books when I order them.

I did pay for them to convert my book to a Kindle format. That too was the best decision because I sell 10 times more Kindle books than physical ones online.

My only criticism is they are a stickler for formatting and if it’s not done right, they’ll have your fix it and re-uploaded as many times as it takes. For me that was 5 times… lol.

Did you enjoy this mini lesson? I’ll be rolling out a full course called, “How to Write & Self-Publish Your Book” for the Live Richer Academy.

The Live Richer Academy is a membership site that hosts a series of courses designed to help you take your finances and life to the next level.
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The Live Richer Academy helps in 3 distinct ways:

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1) The private, members-only forum
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2) The pre-recorded courses. (there are currently 8)
– Basic Investing
– A Step-By-Step Guide to Buying Your First Stock
– Travel on a Budget: Beginners
– Credit Repair: Beyond the Basics
– Student Loans: What Every Borrower Should Know
– How to Keep Your Money While Sharing Your Love
– Budgetnista Small Business Series:
– How to Budget With an Irregular Income
– How to Get Your Name/Brand/Business in the Press
3) The live lessons. These will take place 1-2 times a month. Members will have the opportunity to take a live video class with a financial expert and ask questions during the lesson.
The Academy is currently over 50% off.
The cost of the Academy is, $24.99/month
The discounted cost is, $12.99/month
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Available Payment Options
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* Monthly Membership : $12.99/mon (automated recurring payments like a gym membership)
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* 6-month Membership : $64.95 (you get 1 month free with this option, so $9.99 x 5 months = $49.95)
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* 1-year Membership : $129.90 (you get 2 months free with this option, so $9.99 x 10 months = $99.90)
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If you have any additional questions, please feel free to ask in the comments

You can learn more about the Live Richer Academy and sign-up here: http://livericheracademy.com/

 

Live richer,

Tiffany “The Budgetnista”

  • krc5428

    I love the book information and advice Tiffany! I hope to use 1 of my passions to formulate another stream of income.

  • GiGi

    Ive printed several books using createspace..I love it.. I just need to market them better…

    • Yes Gigi! Marketing is key. I have a class in the Academy about how to get press.

  • Jeanah

    i have always wanted to write and publish a book. Not sure where to begin, but I now have more information than ever before about how to self publish! Thank you so much Tiffany, This may be the best thing I’ll ever do!

  • Kiera

    Thank you Tiffany I’ve always wanted to write a book I just didn’t know where to begin…thank you again

  • Lena

    Thank you Tiffany, that is really helpful information! I’ve always wanted to write a book, now all I need to do is pick a subject and do it! Thanks for all your great tips and advice. ~ Lena

  • Shambra Johnson

    Thank you for this information!!! I have so many books in me and have played small long enough. Being a part of such an amazingly powerful community has pulled at and re-ignited my spirit to get out of my own way and shine!!! I AM putting pen to paper with ideas, concepts, etc. and looking forward to living full out!!!

  • Tamara

    Ive always wanted to write and publish my book. Fear kept me from moving forward and not knowing how to begin even crippled the process. Thank you for the insight.
    I would love to start a writer’s group where we meet and dedicate time to solely writing.

    • You’re welcome Tamara! It’s time to act despite fear. 🙂

  • Holly Reid

    Great post! I just joined you on the other side and am now a published author! It definitely takes a level of commitment, but like you say, when you’re writing something you really know and are passionate about, it makes the work and effort worth it!

    • Congradulations Holly! Indeed, it’s a lot of work, but worth it if you’re helping people. 😉

  • Rhonda

    love!!!!!

  • Regina

    Yes! This was a great tip. I already have a self-published book, but I’m writing an updated version (or 2nd edition).

  • Nneanata Amaechi

    this is great advice. Thank you!

  • Cetheara Ellis

    my goal is to grow my savings and start investing. #MMSweepstakes

  • Iswi Jamelle Shontelle Pratt

    #magnifymoney
    Goal I have 3 more things on my credit report to pay off. I will hv this done before the end.

  • Shani Bowlware

    Thank you for all the wonderful information you share with us.

  • Maggie

    #MMSWEEPSTAKES
    Goal: save 100.00 a month and start investing

  • Mya

    “$4,000 Giveaway with The Budgetnista & Magnify Money!”

    This was very informative, I’ve always been interested in writing children’s books……this definetly gives me direction and what to do on a budget! Thank you sooo Much!

  • Shay Luv

    My biggest financial goal is to leave all of my debt in 2016..by the end of the year I would like to be completely debt free !! #MMSweepstakes

  • Whitney Fisher

    I’m honored to be apart of the dream catchers live richer group! I’ve always had the mind set that there’s no way I can save a penny I don’t have the wiggle room within my income. Since joining this group I’ve managed to save and a little savings is better than zero savings! So my goal set is the stick within my monthly budget and go from the high 500 to mid 600 club within the next 2 months. Wish me look! Never too young or old to gain control of your finances! #MMSweepstakes

  • Stephina

    One of my financial goal I working on is a down payment for my future home. It’s hard trying to save and live at the same time but I’m making it work, with you help 😉 #MMSweepstakes

  • DESTINY GRAY

    $4,000 Giveaway with The Budgetnista & Magnify Money! #MMSweepstakes !!! My financial goals are to pay off my student loans in less than 2 years, purchase my first home and invest in real estate!!

  • Beautiful Nightmare

    My financial goal is to save $100 every 2 weeks #MMSweepstakes

  • April Woods

    Tiffany, this is great information. Do you log your miles for your business? If so, how do your track them? #mmsweepstakes

  • April Woods

    How do you being writing your book when you have an abundance of topics, themes, etc…racing through your mind #mmsweepstakes

  • Unique_Lewis

    $4,000 Giveaway with The Budgetnista & Magnify Money!

    One of my many financial goals is to build a 6+ month emergency fund. Another is to have a college fund for both my children 10yr and 10mth #MMSweepstakes

  • tomya

    More information so that I can begin to budget and get things together. Thank you.

  • Riah B. Logan

    Great information. My husband has been wanting to publish his book but didn’t know where to start. Our goal is to save for our 3 sons education. We also want to show them at early age how to take care of money. #MMSweepstakes

  • Lawanda Brown

    So many great tips! Ive seen several that I truly needed to know! Thanks! $4000 Giveaway with The Budgetnista & Magnify Money. I realy would love to be able to begin to pay off an old dedt, and upgrade some long over due things in my home. #MMSweepstakes

  • Stacy G

    My Financial Goal for 2016: Save a More, Spend Less, and get on the path to Retire Young and Rich! #MMSweepstakes

  • D

    After a recent layoff my goal is to reestablish my emergency fund. Minimal 3 months with a goal of 6 months worth of expenses. #MMSweepstakes

  • Ariel Smith

    My immediate financial goal is to be able to get my wisdom teeth removed. I’ve already started researching where I can get done at a lower price and asked my peers in the DC Facebook group. #MMSweepstakes