In this episode of DAWCast: Music Entrepreneurship, I discuss how to manage your money as a musician.
In addition to time, money is another area where many musicians tend to struggle and have a hard time getting things under control.
Though learning to manage your money will take some determination and effort, in the end it’s a relatively simple process. That doesn’t mean that it’s easy, however.
In this episode, you will discover:
- Why you should stay out of debt.
- How your emotions affect your ability to manage money well.
- How budgeting well can help you to pay off your debt.
- How separating your personal finances from your music finances can make it easier to track your spending.
- How to create a habit of saving.
- How to plan for future purchases.
- Why carrying around cash in your wallet will make you a more conservative spender.
- Why you need to carefully evaluate every opportunity that comes your way.
- Why you need to learn how to put money back into your business.
- Why musicians should work towards building multiple streams of income.
Links and resources mentioned in this episode:
- #051: David Andrew Wiebe Interview – with Maveen Kaura
- Bonus: Close the Back Door
- How To Make More Money As A Musician by Tom Hess
- How to Set Up Your Music Career Like a Business
Thank you for tuning in!
Thank you for joining me for another episode of DAWCast: Music Entrepreneurship. If you have any comments, questions, suggestions, or requests, don’t hesitate to leave them in the comments section below.
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Author: David Andrew Wiebe
David Andrew Wiebe has built an extensive career in songwriting, live performance, recording, session playing, production work, investing, and music instruction. In addition to helping musicians unlock their full potential, he also continues to maintain a touring schedule with multiple bands.