All posts filed under: Stability

Advice on how Artists can live on a small income when moving to a new city.

Today’s post comes from a question I recently received from a reader: Do you have any written tips or advice for how to live on a very small income when moving into a new city? This is an excellent question that many of us don’t think about when moving to a new city in pursuit of our art. Settling into a new city can be challenging, but also one of the most exciting experiences of our life. Here are some tips to consider when calling a new place home: Live with multiple roommates–Sharing the cost of living expenses with others when you move into a city. Having multiple roommates greatly reduces your expenses and gives you more flexibility to build some stability. Advice: Find people in which to live before you move. If that’s not possible, check in with your network to see if anyone you know has a room available. Set a deadline for when you will move out to find your own place.  My suggestion is to wait to move out until you …

Six ways to tackle your college loans

“The most important investment you can make is in yourself.” -Warren Buffett Yesterday, I wrote this post about things to consider when taking out College loans. As Warren Buffett mentions in the quote above, I still believe that taking out a college loan is one of the best investments you can make for yourself. Now that you are out of school and in the midst of your career, here is some quick advice on how to tackle your College loans. Write off the interest–“You can deduct up to $2,500 of student loan interest paid in a given year. As with many tax rules, there is an income limit to this deduction. Your modified adjusted gross income cannot be more than $80,000 (or $160,000 for married couples filing jointly).” (Source: Huffington Post) Refinance– The national interest rate for federally funded college loans sits at 4.45% as of August, 2017. If you have any loans higher than that, see if you can refinance and lock in the rate now before they go up. If you took out a private loan, which often has interest rates much …

College Loans and Majoring in the Arts

This morning, I read this CNBC article, which discussed the fact that student loans have gone up over 150% in the last decade. The article states that “The average outstanding college loan balance is now $34,144, up 62 percent over the last 10 years.” Like most college students, arts majors (music, drama, dance, visual arts) will need to take out college loans in order to pay for their schooling. Generally, institutions of higher education don’t have a sliding scale for tuition based on projected earnings for each college major. Arts majors need need to weigh the value of the education they are receiving with the amount they will need to pay in order to earn their degree. When I coach artists, a big part of the conversation is about lowering financial risk in order to have more flexibility to pursue the things you love to do. With college becoming more expensive than ever, I encourage you to consider the impact of taking out college loans in order to pursue your art. Here is a breakdown …

Taylor Swift and Equity for Artists

Taylor Swift recently pulled her entire catalog of songs off Spotify, arguing that there “should be an inherent value placed on art.”  It appears that Taylor made about $500,000 last year in domestic streaming through Spotify.  Before her departure, she had millions of people playing her songs every day. Spotify argues that artists will reap the benefits of allowing their work to be streamed when a critical mass signs up for the service.  For people like Taylor Swift who already have a huge following, this potentially works out well.  For most musicians, Spotify is hardly an option.  This article in the Atlantic is a dose of reality, stating that it takes over 4 million plays per month on Spotify for an artist to make a paltry $1,160. Historically, record label agents were the gate keepers who “picked” the artists they would represent.  Due to time and staff size, only a few artists were chosen to fill out a roster each year, leaving most artists behind.  Then, ten to fifteen years ago, many believed that the …

4 things to consider as you find a place to call home

This blog post is beautiful.  Stripped down and vulnerable, Amy effectively places her personal values in front of where she lives.   What role does “place” play in launching your career?  This post looks at the notion of “place” as it relates to career planning and attempts to help you think about your own values while deciding where you should call home. Cool Cities In 2002, Richard Florida wrote about the creative class and presented a new way for city leaders to think about urban renewal. Florida’s hypothesis for the movement was rooted in three interlinked factors that distinguish a cool city: Talent—Manufacturing jobs are gone.  That means cool cities must have a highly educated workforce to thrive.    Technology—Cool cities need tech companies, research and development facilities, and other creative economy businesses to provide a place for the highly educated workforce to be employed.   Tolerance—Cool cities need a large gay and lesbian population, combined with a bohemian under culture often associated with artists to keep the highly educated workforce excited about living and working in the city.   In short, artists make noticeably uncool cities, cool.  Rust belt cities invested in …