00:00
treat every job
like it's your last
We’ve all heard the term ‘Starving Artists’, and for some it’s their reality. There are some entertainment genres that pay more than others but many are not always fortunate enough to only book high paying jobs. Theater is probably one of the hardest fields to work in without having a side gig to survive and that’s mainly because most shows don’t last very long. If you are fortunate enough to get a role in a hit show, don’t take it for granted. Everything comes to an end and you have to be ready when it does.
If you treat every job like it’s your last, you will make smarter decisions with your money but if you think you will always have a job, you won’t make smart financial decisions. No matter how talented you are, there is a chance that you will spend long periods of time not working. The monetary choices you make while you are working is what will determine if you can make a living as an artist without having to work a 9 to 5.
Save your money! There are some who go years without booking a substantial job like a series regular, a hit Broadway show, or movie and yet they don’t have to wait tables or do other jobs to pay the bills. They saved their money and made smart investments to carry them over in between gigs. It’s so easy to not think about saving when you’re making thousands of dollars a week but you have to be realistic. There are so many talented actors who have had to quit the business because of bad money management. All good things come to an end!
Investing in real estate or high yield savings accounts are just a couple of things you could do to let your money work for you. Things like this can sustain you when you are not working. If you buy an apartment or house, you can always rent them out for additional income. Be smart when things are good because they may not always be.
*The Guardian reports that only 2 percent of actors make a living from their acting gigs