TAG: financial literacy

Financial Management for Musicians Part I: How To Take Charge of Your Finances

Financial planning is an essential skill for musicians so for the past few weeks, my class has been focused on helping my students to learn the basics of financial management and create their personal financial plans. Once again my friend Jim Remis, partner in a boutique accounting firm and Chairman of the Board of the Hartford Symphony, visited our class and together we provided my students with the kind of information that they need in order to have a comfort level around their finances:  earning revenue creatively and from a variety of sources, budgeting, saving, avoiding debt and basic tax planning.

Here are some basic pointers in order to get started.

Financial Freedom for Music Entrepreneurs Part III: How To Manage Your Debt and Spending

If you have taken the last two financial freedom quizzes, you will have a much better sense of your attitude towards

1. your financial literacy and the fear of not knowing how to manage your finances; and

2. your fears around not having enough options to make money as a musician.

You should also have a much better sense of what to do in order to become more comfortable managing your finances, as well as exploring new and different options for making money as a musician.

Now let’s tackle debt and spending.

Financial Freedom for Music Entrepreneurs Part I: How To Overcome Your Fears and Become Financially Literate

Let’s start off the New Year with a topic that sends shivers down the spires of many musicians:  your finances.
What’s the first thing that you think of when you think “money”? 

“Dread.”

“I don’t want to think about it.”

“I don’t know where to begin.”

Your attitude about money says a lot about how you make, spend and save your money.  By using a combination of the positive mindset of an entrepreneur combined with knowledge of basic skills, you can start to conquer your fears around money and begin to forge a healthy relationship with making and spending money, with the goal of achieving financial freedom.

How do you feel about making money as a musician?  Start out by taking the Financial Freedom Quiz.