You Gotta MAKE MONEY to MAKE MUSIC

HEY GUYS... Pardon my stray away from our typical music-making based conversation but THIS IS IMPORTANT!!! You know the saying... "It takes money to make money"? Well the same is true for music! There is no way you're going to be able to make something happen for yourself if you don't learn and practice some sound finance skills.

Consider below...

One of the most common rationalizations for not saving or investing is: “I don’t make enough money.” Surely, the reasoning goes, whatever pathetically small amount you put away in a week wont amount to anything. But this ignores the real issue involved, especially if you’re young. What matters is not so much that you start saving $500 a week (although it wouldn’t hurt) but that you start at all. Recession or no recession, most people see their income rise throughout their working lives until retirement. You will eventually be able to save more. But how likely is it that you will save more once you have it if you don’t get into the habit of saving now? Saving should be scaled up in-tandem with earnings, rather than put off until earnings are perceived to be high enough to have an amount taken out for savings.

Start to save and invest with whatever resources currently in your possession. The only exception is if you are in debt, in which case, pay that off first. A well thought-out and consistently implemented savings and investment program should minimize your need to rely on others (be it friends, family, or Uncle Sam) during financial hardships.

(Source: www.mint.com)

I shared this because this is the #1 thing, in my opinion, that holds young people back! This is ESPECIALLY TRUE for my young musicians!!! It seems to be the norm for creative people to TOTALLY NEGLECT the fact that money makes the world go round! We usually have the "Seize the day/every thing's gonna be ok" attitude. Don't wait till you get older to regret not being as disciplined as you should have been with your finances and thus not being able to achieve your full potential.

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