Money trees is the perfect place for shade.
Kendrick Lamar
Listen on: Apple – Spotify – Soundcloud
A sustainable music business requires a stable personal financial plan.
This guide will review how to make sound financial decisions including:
When one curtain closes another curtain opens.
Listen on: Apple – Spotify – Soundcloud
If you recently lost your music industry job, I’m sorry for your loss. Things will get better.
If you’re here to prepare for a potential layoff, I hope you never experience one.
Cash rules everything around me.
wu tang clan
Listen on: iTunes – Spotify – Soundcloud
After calculating your net worth with a balance sheet the next step to understanding your financial wellness is measuring your cash flow using an income statement.
This spreadsheet will map out all of your expected income and expenses throughout the year to identify shortfalls or excess cash flow.
Net cash flow is what remains after your savings, debt payments, insurance premiums, living expenses and tax obligations.
Inflows – outflows = net cash flow
What you do with extra money is up to you!
“Your mind, more than your actions, determines your net worth.”
robert kiyosaki
Listen on: iTunes – Spotify – Soundcloud
Before deciding where you want to go (artistic freedom), it’s crucial to know where you are today.
Your net worth is a metric to measure financial wellness.
Remember, it’s just a number. It does not represent your worth as a person or musician.
It’s a temporary snapshot of your financial situation. Use it as information or motivation to guide the next steps toward artistic freedom.
Listen to Episode 23: iTunes – Spotify – Stitcher – Soundcloud
Learn the 4 simple steps to save an emergency fund.
Follow along by downloading my free PDF:
4 Simple Steps to Save an Emergency Fund (PDF)
Topics discussed:
Thanks for listening and keep thriving!
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