There is a small debate around here, which is filled with confusion. As people know, I received my first royalty check this week. On my anniversary too, which was awesome timing. Anyway, that’s not the real point of this.
I’m setting up a separate account for my royalty money. I’m going through a credit union, so I can set up direct deposit and I won’t get reamed for having a low balance. This is entirely to make taxes easier. At least I’m told it makes taxes easier and I’d rather listen to the guy that does my taxes. Again, this is just the set up.
Am I allowed to use this money for bills? This might sound like a stupid question, but I’m being told by people around me that this money can ONLY be used for my writing. It’s being said in a way where it sounds like I can’t use this money to pay a bill without incurring some governmental wrath next April. I understand that businesses cycle profit back in for growth or something like that. Does this work the same for authors?
I do plan on taking out what I need for Prodigy of Rainbow Tower advertising. That’s maybe $70. Still, I feel like I’m being told that this is money I can’t really use. I know I can’t do much with this check and I probably shouldn’t. Saving up for a new laptop might be the big thing this year. Now, if I can pay a credit card bill or a Verizon bill, I might feel like I’m contributing. Instead, I feel like people are suggesting I hug my money and never let it go. I’m sure this will be great when I need to buy food and it’s the only money that I have.
So, does anybody have a clue what these people might really be talking about? It can’t really be that I can only use this money for writing expenses.