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 stream. 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, $17.99/month
The discounted cost is, $9.99/month
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Available Payment Options
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* Monthly Membership : $9.99/mon (automated recurring payments like a gym membership)
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* 6-month Membership : $49.95 (you get 1 month free with this option, so $9.99 x 5 months = $49.95)
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* 1-year Membership : $99.90 (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”