You’re an ACTOR. Or, you’re working on becoming an actor. Or, you’re something else completely different and you just happened to find yourself skimming the pages of this ACTING WEBSITE. Hmmm, that most likely means you do have some sort of aspirations of becoming an actor. Either way, there are some COLD HARD FACTS that you should be aware of that teeter more on the BUSINESS side of SHOW BUSINESS than the SHOW side… you know, the side we prefer to focus on… the FUN SIDE! So, in this post, we’re going to be focusing our attention on the following topic of utmost importance — FINANCES!
Acting can be a lot of things:
- A DREAM
- An INTEREST
- A PURSUIT
- A JOB
- A VOCATION
- A CAREER
- A NIGHTMARE
Whichever it is, you the PRINCIPAL PLAYER, will have to handle the TRICKY financial side of your existence — while being involved in this amazing field, regardless of what level you currently find yourself. You see… generally speaking, actors are more often than not, PROFESSIONALLY UNEMPLOYED! It doesn’t matter which one of the above bullet points apply to you, when an actor does WORK, it’s usually for a DETERMINED amount of time. Meaning? You get the job. You do the job. And, when the job is finished… you’re back looking for the next job. Again and yet again. In other words, you’re MONEY MAKING can get a bit SCHIZOPHRENIC!
When you break it all down, the AVERAGE WAGE for a working actor (union and non-union combined) is roughly $30-$50 an hour. Now, where that may seem high in comparison to what most average jobs pay… that rate is only paid when you, the actor, are actually… WORKING! Just writing this is enough to make one dizzy. HOW IN THE WORLD ARE YOU SUPPOSED TO BALANCE AND BUDGET A LIFESTYLE LIKE THIS??? IT’S CRAZY!!!
Have you ever asked yourself any of these questions?
- How do I make money while pursuing my acting career?
- How do I effectively manage my income?
- How do I hold on to what I make?
- What part of my income belongs to me?
Have you even gotten to these questions?
- 1099 or W2 – What’s the difference?
- 1/4 Tax Payments – Am I prepared?
- Paying yourself – Am I doing it?
- How do I invest properly?
The above questions are actually quite sophomoric when it comes to basic MONEY MANAGEMENT. The issue here for most actors coming about is as follows. The ASPIRING ACTOR can become so much more caught up with TRYING TO SURVIVE and MAKING ENDS MEET than be bothered with how to MANAGE anything they make. Especially when, so often, what is earned keeps slipping right back out of your hands as soon as you make it.
This doesn’t have to be the case!
For the remainder of the month, we’re going to be diving into the world of FINANCES and the WORKING ARTIST! So, remember to watch THE PERFORMANCE ZONE on Friday afternoons — as well as the speciality workshops that will answer heaps of questions that you didn’t even know you had, as well as empower you to live a PROACTIVE FINANCIAL LIFE!
THE ARTISTS FREEWAY – [Your free weekly exercise.]
A – Make a list of (record) EVERYTHING you spend money on for ONE WEEK. EVERYTHING! If you’re really serious about turning your FINANCIAL BLUEPRINT around — record all expenses for ONE FULL MONTH!
B – Make a list of (record) all INCOME for ONE WEEK! Then ONE MONTH.
C – Do the math and get ready for STEP 2.