How to Navigate Income Swings in a Creative Career

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 20 June 2024

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover how to navigate financial uncertainty in a creative career with insights from a jazz saxophonist's personal journey. How can creative professionals manage financial uncertainty in their careers? What are the essential financial strategies for artists dealing with fluctuating income? Hosts Sean Pyles and Abby Badach Doyle discuss the financial challenges in creative careers and strategies for overcoming them to help you understand how to thrive financially while pursuing your passion. They begin with a discussion of the unique financial hurdles faced by musicians, artists and writers, with tips and tricks on managing unpredictable income, the importance of saving and maintaining mental health amidst financial instability. Then, jazz saxophonist Roger Romero joins Abby to discuss his personal journey to a full-time music career. They discuss the support systems needed for a successful creative career, the logistics of managing seasonal income and advice for aspiring artists who are considering full-time careers pursuing their passions. Romero's insights provide valuable lessons on building a supportive community, continuously learning and developing skills, and the importance of financial planning for long-term success. In their conversation, the Nerds discuss: thriving in the arts, creative careers, music industry, financial stability, navigating income swings, student debt, pursuing passion, artistic ambition, financial balance, creative journey, performing and teaching, continuous learning, music gigs, financial planning, supportive community, building a reputation, managing unpredictable income, mental health, financial challenges, seasonal income, saving money, tax season, professionalism, creative fulfillment, careers in music, supportive family, engineering to music, odd jobs, wedding band gigs, social media networking, music production, gear investments, teaching music, networking in music, and financial unpredictability. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Prime Video brings thrilling entertainment.
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0:19.0	Yes! And it was amazing!
0:23.0	Whatever you're into, it's right here.
0:25.3	Prime Video.
0:27.1	Click or tap the banner to find out more.
0:29.7	Trying to make money in a creative pursuit is not easy.
0:33.2	Just ask any actor, writer, painter, or musician, and they'll likely tell you a story of starting
0:39.2	out with little money and ending up with, well, probably still not a lot of money.
0:44.3	Today, we're going to talk about some of the financial challenges that are unique to creatives
0:48.7	and a few ideas for meeting those challenges.
0:53.0	Welcome to NerdWallet's Smart Money Podcast. I'm Sean Piles. And I'm Abby
0:57.4	Badak Doyle. Welcome to the Smart Money host chair, Abby. Delighted to be here, Sean. So today we are
1:03.5	exploring what it takes to succeed in a creative endeavor and hopefully make some money at it too.
1:09.0	Pursuing the creative arts is not an easy career path,
1:12.1	but if you're in the creative industry, you're probably not doing it for the money. You're doing it
1:16.9	for the absolute love of it, whether it's photography, music, theater, writing, or beyond. These are
1:23.2	pursuits that come from the soul. That's right, Sean, but it doesn't mean that you don't need to make
	...

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