Leaving the cozy security of college life and jumping into the performing arena can be daunting even for the brightest of talents. If you have no idea how you’re going to pay for your next lesson or audition trip, how can you pursue your career?
Where is your money really going? Tracking your expenses is essential to beginning and running your freelance business.
The Basics:
- Budget: This fundamental tool will tell you where your money went and where it’s going. Try monitoring your income and expenses for even just one month (six months is better), to help you create a budget.
- Online Banking Websites: Whether it’s through your private bank or one of the many money management websites, keeping track of your income and expenses is essential for performing artists. Using online services makes the process much easier if you’re traveling a lot.
- Taxes: Uncle Sam is going to want his fair share so knowing what you can and can’t deduct as a performer will assist you in keeping the IRS from knocking at your door.
“Money Management for Performing Artists,” a seminar I created to help young artists bridge the gap between college and “after” college, gives more comprehensive information and is available for universities and performing arts organizations. It’s one of many valuable arts business seminars offered through YourType Arts Partners.
For more information on my Money Management seminar, click here.
For more information about me, click here.
Further reading
Below are some interesting articles and websites with valuable information to put you on the path to a better financial future and successful performing career:
- “How to Choose and Use Financial Software,” Wall Street Journal
- “Where to Find Free Tax-Preparation Help,” Wall Street Journal
- Self -Employed Individuals Tax Center
- Money 101
- Freelancers Union
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