In our first installment two weeks ago, I discussed ways you could drop the cost of the American Dream by lowering your essential expenses such as groceries, car expenses and apparel. Today, I’d like to tackle lowering the cost of the “extras” that USA Today calculated are important parts of what many consider a happy lifestyle. We’re creative people….lowering the cost of Continue reading this post >
This week I want to focus on debt. Why? Many people have debts, but few have a debt strategy. If you’re going to focus on your craft, you should minimize distractions with confusing terms and high repayment options.
The biggest debt for most people is their mortgage, so we’ll start there.
Here’s some good news: mortgages don’t have to be ominous, and if you do them wisely, you can come out ahead on your Continue reading this post >
I was speaking with a friend the other day who said, “No offense, but money people are so obsessed with cash that they forget to create. They’re so obsessed with profits that they miss the point of Continue reading this post >
A business plan…. many creative people I know shy away from those two words….
First, they’ll tell me, their craft isn’t a business.
Second, they’re overly in love with the term “winging it.”
Yet, if you talk to top artists in nearly any field, they have a workmanlike precision to their art. They seem to be in the right place at the right time. How do they do Continue reading this post >
We’ve all had them: everything’s humming along fine with our craft and then there’s a special trip that “everyone else is going on.” Suddenly you’re spending money like a half-crazed couponer at a going out of business sale.
We call it the “budget buster” moment.
What is a budget buster moment? It’s when you’ve been a good saver for a long time and Continue reading this post >
Looking at CD rates last week, there’s nothing to grin about. According to Bankrate.com, the average one year CD is paying 0.23%. Looking for a higher return? If you lock your money up for five years in a CD you still are only going to earn 0.80%
To use my son’s Continue reading this post >
I often hear stories from creative professionals about their difficulties saving money. I completely understand. When faced with a project today for our art versus some far off goal, it’s hard to put away a dollar that could help right now.
Yet, I also know that the only way to financial independence is to save for the future. Every dollar we spend now is a dollar that could have secured our dreams Continue reading this post >
Reality television is amazing…while I’ll agree that most of it isn’t worth your time, I enjoy watching how some of the “stars” who elegantly perform in public actually work their butts off behind the scenes. Lifting the curtain on the daily tasks of a true artist shows that success is more than just creating a product. In most cases, you have to be a financially savvy marketing guru to succeed.
Maybe you’re walking through the woods and a patch of sunlight hits the ground in front of you and spurs an idea for your next artistic creation. You could be dining at a restaurant and the ambiance makes you realize an image of a new way to work.
I know this: inspiration hits in funny places. I actually found inspiration for my 2013 goals last night Continue reading this post >
For most creatives, we’re comfortable working without a net. Many of us have gone months or maybe even years without a stable income. Some are amazingly agile at finding just the right resource at the perfect time. Like a trapeze artist on the high wire, we find a way to make it work.
That’s why the concept of insurance is so foreign to most of us. When you’re a high wire artist, your first thought probably is, “Why waste the money?”
Unfortunately, Continue reading this post >