Survive and Thrive: Felicia Day’s Gig Economy Playbook for Success

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 2 September 2024

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Writer, producer, and actor Felicia Day shares her financial journey working in Hollywood, with tips for managing your budget when gigs are inconsistent. What is your time worth? How do you value your time outside of work? How can you manage finances in an unpredictable career like acting? Hosts Sean Pyles and Sara Rathner discuss the concept of time valuation to help you understand how to balance personal worth against income. They begin with a discussion of time valuation, offering insights on the average hourly value people place on their time, the impact of this valuation on life decisions and assessing the value of unpaid personal tasks. 06:10 Interview with Felicia Day Sean speaks with Felicia Day about the financial strategies she employed to maintain an unstable career in Hollywood. They tackle topics such as frugal habits, the significance of diversifying one's portfolio for career longevity and aligning creative passions with financial stability. Plus: How to understand the financial education that you may have received even without having ever been given a formal financial education. In their conversation, the Nerds discuss: Hollywood finances, managing finances, acting career, freelancing lifestyle, financial strategies, financial acumen, Hollywood journey, value of time, budgeting tactics, work-life balance, career growth, financial stability, creative careers, personal well-being, professional satisfaction, financial security, generational differences, personal time investment, freelancing finances, unstable careers, diversifying skills, frugality, budgeting skills, theoretical mathematics, content creation, business acumen, media industry, creative fulfillment, career shifts, entrepreneurial leaps, work-life harmony, managing a budget, career resilience, and skills diversification. 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	Ever wondered what you're worth?
0:01.8	Not necessarily net worth, but what your time is worth.
0:05.6	What kind of value you hold on an hourly basis outside of work?
0:10.0	They say time is money, but how much money?
0:15.9	Welcome to NerdWallet's Smart Money Podcast, where we help you make smarter financial decisions,
0:21.1	one money question at a time. I'm Sean Piles. And I'm Sarah Raffner. This episode, I talk with
0:26.2	writer, producer, and actor Felicia Day about what it's like to manage your finances while
0:30.5	working in Hollywood, including how you manage your budget when gigs can be inconsistent.
0:35.3	But first, we're going to talk about what your time is worth.
0:38.2	Well, I don't know about anybody else, but my time is priceless. I mean, mine too, but seriously,
0:43.5	Sarah, have you ever thought about what your time is really worth? I've done some math, actually.
0:48.6	I know what I am paid at work, but nobody has given me any checks for managing my life outside of work, all the stuff
0:55.5	that you need to do to take care of your home and of yourself. And if you have kids, of one or more
1:00.8	of those, I actually did the math because my son just turned one. And the app I used to track his
1:05.9	feedings sends you a happy birthday message with how many hours you've spent nursing and pumping. So now I have that,
1:12.7	which I don't know. It's got a little terrifying maybe. A little terrifying because I took that number
1:16.6	and I multiplied it by my salary, if you looked at it from an hourly basis. And just nursing and
1:24.5	pumping, no bottle washing, no diaper changing, no roasting sweet potatoes for him to
1:29.2	throw on the floor, none of that. Just those two things, I should have been paid $35,000.
1:36.2	Oof, I assume you're adding that to his tab and he'll pay you back when he gets a job eventually.
1:41.5	I don't know, maybe he'll throw me in the nicer home when I'm old.
1:45.1	Well, we'll have to play this for him when he can actually understand what we're saying.
	...

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