A big part of financial freedom is having your heart and mind free from worry about the what-ifs of life-300x300

On Being Financially Safe

Hey there!

As I speak with actors and VO talent when I meet them for coffee dates, I often hear the same sentence:

“Money is really tight right now.”

I get that. As artists, we often put our art before our financial safety.

Some people even wear that strategy as a badge of honor.

I’m here to to tell you that you’re hurting yourself in many, many ways if you don’t get financially safe.

Aside from the calls from creditors and collectors, aside from the loss of use of services you can’t pay for, aside from the condition in which you have to live, transport yourself and eat…your very personality can begin to change.

You become more desperate, more cranky, and more defensive about your lifestyle when you’re in financial danger.

And all those around you become very aware of how you treat them when you’re hard up for cash.

Worst of all, it begins to affect the very thing you’re trying to protect: your ability to act, voice content, audition, rehearse, and perform.

And that happens because, quite naturally, you’re worried about money.

I want you to be successful. I try to share with you, whenever I can, things that enhance your artistic, business and technologic life.

One of the most important things I want for you is to be financially safe. You may not be there now, but I want to help you get there.

Imagine how much easier your life would be if you could get better sleep, not worry so much, and have a better relationship with money.

I’ll be sharing some strategies and tactics over the next few weeks about how to accomplish this. Stay tuned: I’m lining up some great advice to share with you.

And if you have anything in particular that you find stressful or confusing about financial safety, let me know in the comments below.

Hope this helps.

David

9 Responses to On Being Financially Safe

  1. Randy February 22, 2015 at 9:04 am #

    The most stressful part about financial safety is having to maintain a certain income not only for bills but for my family as well. I have two daughters, one a sophomore in college the other a sophomore in HS so there are many expenses attendant to the needs of girls, especially my high-schooler that require me to work two jobs in these trying times. The stress comes in when I try to schedule recording sessions somewhere in that busy day and still leave time to do things like sleep. I’m finding that I’m yawning a lot when I try to record auditions for ACX and have to pause quite frequently during the session. My wife and I discussed this, and I told her that I just am physically unable to accomplish this so we reworked our budget and have factored in a diminished income to allow me the time I need to record quality samples. I’ve spoken to my boss on the evening job and he’s going to cut my hours so that I’m only working three days a week instead of five. My day job is still over 40 hours so that will stand to provide some measure of security. Tough choices to have to make, but I believe that in the long run it will work out for the best, especially when I start earning income from VO gigs and am able to quit my evening job altogether. However, that interim between smaller income and earnings from VO work will be tough all the same.

  2. Debbie Grattan February 22, 2015 at 9:42 am #

    This is an important topic. I do think sometimes there is a disconnect between artists and money. As you say, some almost wear their strained finances as a badge of honor. The mindset behind wealth or poverty is often what leads or stops us from moving in the direction we want. Uncovering some unconscious beliefs around this topic for many would probably turn up many blocks that are standing in their way. I’ll be interested to read about the tactics you’ll be sharing in upcoming articles.

  3. Trev February 22, 2015 at 10:30 am #

    Perhaps the most important – and most often overlooked – aspect of a creative career and lifestyle. Looking forward to your insight!

  4. AMP Subs February 22, 2015 at 11:42 am #

    Oh. My. Goodness.
    PREACH IT, BROTHER!!!

    I have for YEARS been an advocate of having enough moolah to LIVE, not just SURVIVE. I’m sure you’ll be touching on how we use our language — “survival job”, “starving artist”?!?!?

    Absolute insanity.

    THANK YOU for bringing up this topic – I’ll be sure to forward to my clients.

    In the meantime, one of my favorite resources for this is the (misnamed) ACTOR’S FUND. You do NOT need to be union, nor do you need to be an actor to use their resources.

    They have classes and workshops on everything from “Plan B jobs” as I call them to money management and how to build wealth.

    Check them out here:
    http://www.actorsfund.org

    Big hug to you my friend for getting this chat started for I’m sure many people who’s heads are in the sand, both from fear and from simply not knowing what or how to “do” money.

    Kara, owner
    AMP Subs

    • David H. Lawrence XVII February 22, 2015 at 2:30 pm #

      So glad you brought up the Actor’s Fund – I have a very special surprise coming soon for them and for users of Rehearsal. I can’t wait to show it to you all. And I’ll include a rundown of all that they have to offer in an upcoming article. Thank you, Kara!!

  5. Shirley Smallwood February 22, 2015 at 11:53 am #

    Looking forward to this David. We must realize we are not victims or martyrs. We are winners.

  6. Tanya Mills February 22, 2015 at 3:51 pm #

    I’m intrigued about all that you have in store, particularly with regard to the Actor’s Fund. Personally, I want to know the advantages and/or disadvantages of forming an LLC as opposed to DBA…but then perhaps that’s beyond your scope.

  7. Bill Johnston February 22, 2015 at 6:00 pm #

    David, you have provided some very sage advice here. I checked out one of the Actor’s Fund e-learning podcasts on organizing expenses. Very good information, very well presented.

  8. Dale Waddington February 23, 2015 at 1:09 pm #

    Great topic David. My husband, Bruce Horowitz owns his own wealth management firm, Innovative Wealth Strategists, so we do our best to be good stewards with our resources. Cudos to Randy who reworked his budget with his wife, I choose peace over stress too!

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