Dear creative person: Is it time to shift your thinking about money?
29 May
Let’s get some cents together: Financial empowerment is creative empowerment
Creative Money Maker #1, by Eleanor Whitney
Money.
Everyone wants it, but very few people talk about it honestly.
Though we live in a culture driven by money—with definitions of success and self-worth attached to it—there’s not a wealth of accessible financial advice for creative people.
Chances are, as a creative entrepreneur, money is on your mind all the time, and it’s time to take control of it so that your money can start working in the service of your creativity.
Taking control of your finances will enable you to take control of your creative process.
According to filmmaker and musician bill badgely (pictured above), creatives can shift their thinking about money to empower themselves artistically.
“You must work to make art and finances as healthy and beautiful as you can,” says the New Yorker who produced Kill All Redneck Pricks, a documentary about the band Karp.
Money, according to bill, is nothing more than “having the resources and the ability to do what you want to do” for your creative project.
badgley made the mental shift when he began working on his film a couple of years ago.
“In my band [Federation X], I used to do things that made no financial sense,” he admitted. “But I learned that thinking about money won’t crush your project—it will strengthen it. I learned that if my bottom line is really small, I have to pay more attention to finances because my margin of error is smaller.”
So, if having or making money from your art or creative project is merely a tool, why is it that so many of we creative types feel guilty about earning a living from our work? This is one of the issues I’ll tackle in Creative Money Maker.
As a musician who works by day at New York Foundation for the Arts to help artists, shifting my own thinking about money helped me work through the mental block I formerly encountered when it came to budgeting and financial planning.
Viewing money as a tool for my creativity—instead of something I’m limited by—helped me face my fear of looking my finances straight in the eye. Knowing where I stand financially and understanding what I need to achieve a personal or professional goal have helped me ease financial stress.
So, how can you get to this financially empowered place?
Good question.
Creative Money Maker will provide a road map for shifting from financial disempowerment to financial empowerment and will enable you to create a plan to fund your creative vision.
Every other Tuesday, I’ll cover making budgets and tracking expenses, pricing goods and paying yourself, and share foolproof tips and resources for raising money through grants, crowd funding and bartering.
And what’s the secret to creative financial empowerment?
The first step is to understand your own relationship to money.
Is there a part of you that wants to run away screaming as soon as you hear the words “financial,” “money” or “finance?” Or, are you a careful budgeter who already tracks your personal expenses?
Either way, as Dixie Laite writes in the first installment of 15 Minutes of Dame (“Who the Hell Are You?”), knowing yourself is the most important part of running a micro business.
Before we dive in together through the Creative Money Maker journey, take as little as a few minutes or as long as a few hours to contemplate each of these questions and jot down your responses:
1. Do you have a personal or project budget?
- Do you follow it? Why or why not?
- How diligent are you in tracking your day-to-day expenses?
2. Think about your financial history:
- What are your proudest achievements?
- What are financial lessons you learned the hard way?
- Do you see a pattern or repeated mistakes?
3. In your opinion, what’s good about money?
- What about money makes you anxious? Be specific!
I know it can be scary to look yourself (and your bank account) straight in the eye and acknowledge your weaknesses, but you might also find that you have stronger financial skills than you thought.
The first step in the Creative Money Maker process is to know where you stand so you can assess what you need to secure resources to fund the project of your dreams.
In my next column, we’ll talk about honing in a financial goal and coming to a clear understanding of what exact part of your project you need to fund. In the meantime, please join me on Twitter and Facebook to discuss your responses to these questions!
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Eleanor Whitney is a Brooklyn writer, rock musician, educator and arts administrator raised in Maine. She blogs at killerfemme.com and is the author of Grow: How to take your DIY project and passion to the next level and quit your job, which will be released in 2013 on Cantankerous Titles. A proud holder of a master’s in public administration, she loves nerding out about business strategy for creative people and works to guide artists through the fundraising and professional development process. @killerfemme eleanor.whitney [at] gmail.com











































