How to Budget for Your Book: A Guide for Authors

So, you’ve decided to write a book. Congratulations! 🎉 Now comes the fun part—figuring out how to bring it to life and get it into the hands of readers. One crucial step is budgeting. Whether you’re penning the next Great American Novel or a cozy mystery, creating a budget can help you prioritize and manage costs. Let’s break down what you need to consider, from editing to marketing.

1. Editing: The Non-Negotiable Investment

Before your book hits the shelves (or e-readers), it needs to be polished. Editing ensures your prose shines and avoids embarrassing typos.

• Developmental Editing: Focuses on big-picture elements like plot, pacing, and character development. Costs vary but can range from $500 to $3,000 depending on your manuscript’s length.
• Copyediting and Proofreading: Hones in on grammar, syntax, and consistency. Budget $0.01–$0.03 per word.

💡 Tip: To save money, ask beta readers to provide initial feedback before hiring a professional editor.

2. Cover Design: Don’t Judge a Book by Its Cover—But Everyone Will

Your cover is your book’s first impression. A professional cover design can cost between $200 and $1,500. Remember, genre-specific covers resonate best with readers.

💡 Pro Tip: Check out platforms like 99designs or hire a designer who specializes in book covers on a marketplace like Reedsy.

3. Formatting: The Devil Is in the Details

Formatting your book for print and eBook distribution ensures it looks professional. DIY tools like Vellum can cost around $250 for unlimited use, or hire a formatter for $50–$500 per project.

4. Marketing: Reaching Your Readers

Once your book is ready, you’ll need to let the world know it exists. Here’s a breakdown:

• Email Promotions: Platforms like Freebooksy or Bargain Booksy help authors target readers who are actively looking for books in your genre. Costs start around $40.
• Reader Reach Ads: Written Word Media offers ad management for authors, helping you reach your ideal audience. Packages start at $299 and include targeted ads, newsletters, and more​.
• Social Media Ads: If you’re managing ads yourself, plan to spend at least $50–$150 per campaign for platforms like Facebook or Amazon.

💡 Budgeting tip: Allocate 20-30% of your budget to marketing to ensure your book finds its readers.

5. Additional Costs to Consider

• ISBNs and Barcodes: Can be useful for self-publishing, these can cost $125+.
• Author Website: A simple site on platforms like Squarespace or WordPress might cost $100–$300 annually.
• Miscellaneous Costs: Consider items like ARCs (advance reader copies), giveaways, or attending book festivals.

6. Budget Example: Self-Publishing a 60,000-Word Novel

7. Plan, Prioritize, Publish

If your budget feels tight, prioritize tasks based on what will directly impact your book’s success. A professional cover and editing are must-haves. For marketing, Written Word Media offers cost-effective solutions tailored to indie authors that can help maximize your budget while reaching the right readers.

Budgeting may not be the most glamorous part of your author journey, but it’s one of the most important. With careful planning, you’ll be well on your way to seeing your book out in the world—and into readers’ hands. 🚀

Ready to promote your book? Check out Written Word Media’s author services for effective and affordable options!