Hey everyone! Today, my fellow female finance blogger, Fiona Smith, is going to show you how she made $2,000 in one week by self-publishing an ebook on Gumroad. Fiona is the creator of The Millennial Money Woman. She’s been featured in Forbes, speaks at the national FinCon conference, and co-founded a local nonprofit that promotes financial literacy for underprivileged communities. In this article, Fiona explains how you can potentially earn an extra $1,000 a month by writing an ebook. Take it away, Fiona!
Hello everyone!
I’m Fiona, also known as The Millennial Money Woman. I run a personal finance blog and love helping people increase their income and build lasting wealth.
If you had told me in early 2020 that I would make $2,000 in one week from a self-published ebook, I probably would have laughed. I’ve always wanted to write a book, but life kept getting in the way. Then, in the middle of the pandemic, I felt compelled to write, publish, and sell an ebook about personal finance.
My background
When I was young, I watched my grandparents lose everything they’d invested in their small family business because of poor financial planning. From that moment I vowed I would never face the same hardships, and I wanted to help others avoid those mistakes. I pursued a Master’s Degree in Personal Financial Planning so I could pass on tools I wish I’d had growing up.
That experience shaped the topic of my ebook: How to Get Rich from Nothing.
In my book, being “rich” isn’t just about money. It also means:
- Developing a rich mindset
- Nurturing rich relationships
- Maintaining a rich outlook on life
I was nervous to write the book because I worried it might flop, but I committed to it. Two months after releasing my first ebook, I made more than $2,000 in its first week. Below I share the steps I took so you can replicate the process if you choose to write an ebook.
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How to Make Money Writing an eBook
There’s no secret formula to writing a profitable ebook. It can be short or long, fiction or nonfiction. The key is to start— you won’t know the outcome unless you try. As Wayne Gretzky said, “you miss 100% of the shots you don’t take.”
Tips to keep in mind:
- Choose a topic where you have expertise
- Set achievable mini-goals so you finish on schedule
- Write in clear, simple language
- Proofread and revise often
Passion is essential: you’ll spend many hours on your book—my project took more than 100 hours—so write about something you enjoy.
Set Mini-Goals
I wouldn’t have finished my ebook in a month without breaking the work into smaller goals. While many authors take four to eight months or longer, I wanted a faster launch to promote my work quickly.
To avoid feeling overwhelmed, I created a clear plan:
- First, decide the number of chapters (I chose 14)
- Second, outline what each chapter covers
- Third, estimate word counts per chapter (1,500–2,500 words)
- Fourth, set realistic writing times per chapter (1–2 days)
- Fifth, arrange for someone to proofread the first draft
- Sixth, plan a basic marketing strategy for social channels like Twitter
After two weeks I had a first draft to edit. By week three I had a preliminary draft and a cover I created in Canva. By week four I finalized the ebook and completed pre-launch marketing. My modest launch goal was to sell one copy; by the end of the first week I’d earned over $2,000 in sales.
Don’t Reinvent the Wheel
If you already publish long-form blog posts or other content on the same topic, repurpose that material for your ebook. A well-organized ebook that curates your best material is worth paying for—provided you put in the effort to edit, reorganize, and enhance it so it reads like a cohesive product rather than a copy-paste compilation.
Your eBook Marketing Strategy
Your network is crucial. You can’t sell to an empty audience. Helpful assets include:
- Active social media followers
- A website audience
- Ambassadors or advocates to promote your book
- An email list or newsletter
Quality of audience matters more than quantity. I began marketing the day I started writing to test interest. I reached out to influencers in my niche to ask if they’d pay $15 for a practical, jargon-free finance book structured as a 14-week program for Millennials. Their feedback helped improve the format and outline.
Marketing checklist I used:
- Build interest before launch
- Promote 1–2 times per day on social media around launch
- Invite niche influencers to read and review free copies
- Ask top influencers to share your link on launch day
You can also sell on pre-order to test demand. If pre-orders are strong, deliver on time; if not, you can refund and reconsider the project.
Your Earning Potential
How much you earn depends on your niche, expertise, audience, and marketing. You could earn anywhere from $50 to $5,000+ per month. I used Gumroad to publish my ebook; it offers free and premium accounts—if you plan to sell seriously, a premium account may be worth it.
Expect the bulk of sales during launch when promotion is highest. Over time demand may decline, but you can reignite interest by doing things like appearing on podcasts, adding new chapters, bundling freebies, or raising the price. Or write another ebook.
Why Ebooks Make a Great Side Hustle
Ebooks are an excellent side hustle because they create true passive income—you can make money while you sleep. My first Gumroad sale woke me up with a notification that I’d earned $15; that small win proved the power of passive income. Over time passive earnings can help you save, invest, pay down debt, and build wealth, moving you closer to financial freedom or early retirement.
- Save more
- Invest more
- Pay off debt
- Build long-term wealth
Closing Thoughts
If you want to earn side income but don’t know how, consider writing and selling an ebook. It’s one of the most scalable side hustles you can start. The costs can be minimal—if you do the writing, editing, and promotion yourself, your profit margins can be very high.
Don’t wait years like I did to pursue something you care about. If you’re an expert in dog training, baking, personal finance, or any other area, package your knowledge into an ebook and promote it to your network. Start today, and your bank account will thank you.
My ebook is titled How to Get Rich from Nothing. It’s designed to help readers build financial wealth as well as richness of mindset, networks, and purpose.
Are you interested in writing a book? What questions do you have for Fiona on this topic?