The Starving
Artist Guide To Financial Planning
1. Introduction
2.
The Money Game
3.
Money Myth 1
4.
Money Myth 2
5.
Money Myth 3
6.
What is Money?
7.
The Money Can
Can't
Do your eyes glaze over like a kid in church when you hear the words
"financial planning"? Do you look at the stock market section in the newspaper
and think, "what the hell do all these numbers and symbols mean, and why in
(insert your deity of choice here) name am I even looking at them?" Do you skip
the business section altogether and go straight to arts and entertainment? Does
the thought of dealing with financial and business matters make you want to leap
off the nearest bridge and end it all?
If you answered yes to any of these questions, then more than likely you're an
artist. A sensitive, rebellious, free-thinking anarchist, who would just as soon
be tortured in the pit of despair than have to deal with the root of all evil:
money.
Oh, sure, you want to make a lot of it. We know. Who doesn't? But "making" money
and "dealing" with money are not necessarily synonymous. And let's face it, most
artistic types would rather not have to "deal" with money or business matters at
all. We hear it all the time: "Once I make it, then I'll think about it". Does
this sound like you? Unfortunately, most artists, when they do finally make it,
have not developed the skills necessary to handle their newfound success. Many,
who suddenly find themselves flush with cash, hand over the details of their
finances to a third party, who may or may not be looking out for their best
interests. Now don't get us wrong, hiring professionals to handle the oftentimes
complicated world of money and finances is probably a prudent thing to do,
especially if you know nothing about it or need help with complex issues that
require an expert. But all too often, artists relinquish too much control over
their business affairs and suffer the consequences as a result. See
The Pauper's
Grave for just a few examples.
We at The Pauper believe that for artists to survive and thrive in the 21st
century, they not only need to be skilled at their chosen craft, but be business
savvy as well. Gone are the days when artists get taken advantage of by
unscrupulous businessmen. Gone are the days of the artist as an easy target. The
new artist will be in control of all aspects of their career, including their
money.
In the following sections, we will be teaching you the basics of financial
planning. We will be teaching you how the game works and, more importantly, how
to win it. Consider it money 101 for the artistically advantaged (or the
monetarily disadvantaged if you prefer). Each section is broken down into a
manageable, Reader's Digest-like format, written in easy to understand language,
so that you can come back anytime and pick up where you left off, or re-read any
section at your leisure.
So without further ado, let's get on with it... The Money Game
We all get bored when we hear the word financial planning, but if you spend
the time to
calculate your debt early on you can spend a lot more time making the art
you love.
Debt
consolidation isn't always artist territory, but just like the less artistic
of the world, artist have to watch their financial numbers. A
payday loan in a pinch can help you get your money back on track, but most
of the time it's good to
get ahead on your finances so you pick up the paint brush instead of the
calculator.
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