Living in New York as an artist comes
with a certain stigma. Like you're not really making it, unless you're
starving. But come on, I like to eat. I don't want to starve. Between rent, and
bills, and friends, staying in shape and still trying to have fun, sometimes it
feels like you'll be eating ramen and peanut butter forever.
But listen up! It doesn't have to be
that way. I promise! I mean, sometimes you'll eat ramen, but only because it's
delicious and you get like 10 meals for a dollar (that is a hell of a
bargain)
I can't pretend I have all the answers.
I’m still muddling through, just trying to figure it out. But we're going to
talk about some of the things I've learned in the last 10 years living here in
New York. Maybe these tips are for you? Maybe they'll help you gain a modicum
of control. Maybe not, but then you can just laugh at my stories...
First off it feels like you never have
any money. AmIright? Like no matter how much you work, you pay your bills with
a wish and a prayer - and maybe post dated- in the hope the money will be
there. Hey!...guess what? The first of the month comes EVERY month. And you have, like, all month to prepare for it. So here is today's tip. Ready?
Know What You Owe!
Yup I said it. Your bills shouldn't be a
surprise. Go through your email (or your regular mail if you're technology
resistant) and check out your monthly payments. List them out.
Rent - $1300
Phone- $110
Internet/cable - $65
Gas- $15
Electric -$25
Gym-$21
Netflix-$10
Apple Music-$10
Car payments/insurance-$350
Credit cards a,b&c (minimums to
figure out budget - we'll talk more about this later) -$300
These are your expenses. If you're me
you need to make $2206/ a month to pay the bills.
That may seem daunting but if you know
what you owe, you know what you need to earn. As artists (I'm assuming everyone
reading this is an artist, but I could be wrong. Don't be offended) we're
visual. Laying everything out so you can see what you owe and what you earn is the
first part of getting a grip on your finances. Write it in a notebook, make a
spreadsheet, shoot, just jot it down on a paper towel if you have to. But get a
solid grasp of what you need to make. Then you see it all in black and white; and if you owe more than you make you'll know its time to step up that hustle.
Because I'll tell you right now, you cannot live your life in the red.
The next tip is knowing WHEN you owe.
Trying to pay bills due on the 1st with checks you're getting paid on the 6th
doesn't work. Get ahead of the bills by making sure you have enough BEFORE the
bill is due. If you don't make enough in one check to pay all the bills due,
make sure you've saved enough from the previous payday.
Being ahead is better
than falling behind.
That's a good start for now, friends. Stay tuned for more fun with finances -- It's not that fun actually, but fairly necessary in life. We'll tackle issues like:
- Cutting back nonessentials to save money (You don't NEED to send Beyonce a gift for the twins, I promise they won't be mad)
- Credit card debt (The never ending cycle?)
- Disposable income (I mean disposable like you can do stuff and not worry about not being able to pay bills. #winning)
the rest is still UNwritten...
the rest is still UNwritten...
