Setting up payments

I decided to dig into my Substack settings in preparation for my subscription launch. The first step was to connect a Stripe account to my Substack account. This was easy because I had already set up a Stripe account for the Medium Partner Program. I am using the same account in which payments will go to my LLC. The set-up was very simple and only took a couple of minutes. Let's hope I can pull in more money with Substack than I did with Medium. It's a very low bar.

I have settled on a monthly subscription of US $6 and a yearly subscription of US $60. Substack takes a 10% cut, and Stripe takes another 2.9% plus $0.30 per transaction. Substack also offers a "founding member" feature in which people can subscribe for a higher amount, presumably to also get more perks. At this time, I'm not planning to offer anything for a higher tier, so I will leave that option disabled for now.

I will continue to publish my weekly newsletter in the current format and make it available for free for a week. Once the next newsletter is released, the previous newsletter will go into the archives. I am also going to keep one brain training monthly raffle prize for free members down from the two I have been doing. 

Here are the perks I'm including in the paid membership:

• Access to the full Be Wellthy archives - three years' worth of weekly newsletters. I will set up a page that organizes the content to make it easier to find topics of interest.
• Paid members will have a separate brain training raffle that will award two winners each month, and paid members will automatically get one raffle entry every month regardless of whether they submit answers to brain training.
• Voiceovers will now be exclusively available to paid subscribers.
• Exclusive content will be available only to paid subscribers, and paid subscribers can suggest topics for future newsletters.

I really want to hear from the loyal subscribers who sign up about what other offerings they'd like to see. Suffice it to say that any new goodies will go to the paid subscribers first.