Quote:

“It’s not about how much money you make, it’s about how much you keep and how hard it works for you” Robert kiyosaki


The statistics concerning our use of money are not particularly good, especially in the artistic world. Today we are going to refocus to the core concept of this show and give you conversation starters for you to bring to the guitar center acoustic guitar room. Btw, I am on the hunt for more stats if anyone out there has articles or study’s to share it would be a great help to the cause. But let’s talk about where we are at with money and 10 money convos to have with your fellow musicians
Nearly 70% of Americans have less than $1,000 in savings.
25% of Americans have no savings at all.
The average U.S. household owes $7,149 in credit card debt.
40% of Americans spend up to half of their income servicing debt.
Less than 1/3 of Americans use a budget.

As musicians we can sing a song that is so personal to our innermost feelings but clam up when talking about our finances. Just as a song lyric can be said in a way that inspires others, so can healthy money conversations. And the bottom line is if we don’t get control of our finances our dream to be a musician, an artist, an entrepreneur can become unsustainable. Let’s not let each other lose our dreams because of bad financial management.

We need to have these conversations with each other, to learn from each other. So here are 10 conversation starters to have while you sit around for 2-hours after the unnecessarily early soundcheck.10 musicians and money Convo starters:

1. About what percentage of your income do you take home and what do you keep in the business? How did you decide on that amount?

2. Do you have a monthly payment on your equipment or gear? how did you decide how much you were going to spend?

3. Are you currently saving money for retirement? Are you happy with how much you are saving? When did you start?

4. Do you have health insurance? Can I ask how much you pay for it?

5. are you doing anything to pay it off school loans, credit cards, car loans or other unsecured debt early?

6. Do you set a financial budget for your biz? What has worked well for you?

7. Do you have a process you use for decisions on accepting/bidding on work?

8. Do you invest any money in real estate or the stock market? Where do you go to find advice?

9. What is the best piece of financial advice you’ve ever received?

10. What something you have learned from your financial experience in the music business?

Connect with us at: https://www.musicianstipjar.com/ or send an email to musicianstipjar@gmail.com
 

Intro & Outro Music Donated by: The Magi https://www.themagimusic.com 

Intro Read by: David “DJ” Lee of The Magi

https://soundcloud.com/rockababyrock 

Picture by: Kit Chalberg https://kitchalberg.com/

https://www.musicianstipjar.com/