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Artists and Money

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I came across this good read about artists and money. It explains that many artists buy into a starving artist myth, then resign themselves to sloppy business management. It turns out that good financial habits are down-to-earth common sense ideas, and easier to understand than, say, glaze chemistry.

 

 

http://blog.lunariaf...tists-and-money

 

I think the best advice here for working artists, part-time or full-time, is to hire an accountant. This will compel you to keep records like a real business. I also like her explanation of "fast money" and "slow money" and why both are important.

 

Mea

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I came across this good read about artists and money. It explains that many artists buy into a starving artist myth, then resign themselves to sloppy business management. It turns out that good financial habits are down-to-earth common sense ideas, and easier to understand than, say, glaze chemistry.

 

 

http://blog.lunariaf...tists-and-money

 

I think the best advice here for working artists, part-time or full-time, is to hire an accountant. This will compel you to keep records like a real business. I also like her explanation of "fast money" and "slow money" and why both are important.

 

Mea

 

 

Wow! Great article! Now I have to figure out what I have not been doing right. Hmm have a business account. Use tax program, not a consultant. Don't have a business credit card. Do keep monthly books in Excel format.

 

So much to digest-thanks for sharing.

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Do not click on the above link in the signature. It is Lithiuanian for "job offers", but it leads to malware. I have reported it as spam.

 

 

Thanks for reporting the spam. I zapped it.

 

Mea

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Wow! This was a great article. I was delighted to find that I am already doing (for the most part), everything that she suggests. I have a part-time job as a medical office manager which I hope to gradually scale back as my pottery business grows. It is nice to compare year by year the growth in my business.

 

But boy, is that slow money SLOW! LOL.

 

- Sam

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I don't know how or why I missed this posting! I've been a bookkeeper for over 40 years and still have my taxes done by an accountant (tax software is great, but I like another set of eyes to see if I've missed something). Marcia's response triggered me. It is ridiculous for universities to give out BFA or MFA degrees without requiring at least two semesters of business classes. Do the universities think the students are ready for the real world with a degree in hand? The young people who were working towards a BFA when I went to university were either supported by Mom and Dad, on a scholarship, or dealing with student loans. Most of those in my classes never balanced a checkbook. Fundamentals for living should include a grasp of how much you earn, how much you spend, and how you can make it all balance out.

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Idaho,

Some universities do teach business courses with professional art degrees and I agree it is necessary in preparing students for the job market. Some universities have business people come in and give seminars in preparing portfolios and approaching galleries and businesses.

My Topics in Art History is actually a Topics in Contemporary Art History and is open to whatever relevant subject matter I wish to present as an upper division Art History course since I am substituting for the Art Historian. We will mostly be looking into "new media". My students did ask to explore certain venues as we wrapped up last semester's 20th Century Latin American Art and Architecture course. but I like the article Mea provided and wanted to include it. UTB does not offer a BFA or MFA but BSEd, MSEd, and BA.

Marcia

I have had a business account for my pottery for 40 years and had it before Grad. school. It helped me get an SBA loan when my studio was flooded. Good business practices are imperative to succeed in any business.

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It is also a good idea to try and sell your items on Etsy.com or Ebay.com. Using some free market places online can also increase your sales. Some of these places are BluJay.com and eCrafter.com . Check them out!

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