Articles & News About Money & Coin Collecting

Art, Artists and Money

Practical money tips for people in the arts.

1. Sock it Away

If you are in the arts there is no such thing as a steady paycheck. Money usually comes in spurts with no money, often for months, many months, in between. Don't make the mistake of thinking that spurts of income will happen on a monthly basis.

When you get money from selling paintings at a show, a role in a play, an advance for a book, any art project--sock it away in a very safe place, CD's or bonds or a savings account. Rainy days always come in the arts and hurricanes happen.

2. Live Under Your Means.

Don't even think about "keeping up with the Jones's." Live under your means. Forget the fancy car, the country club, designer clothes the expensive house, fancy vacations and private school for your kids.

That doesn't mean you can't do nice things for yourself and your loved ones in a reasonable way now and then, we all need to do that. And if you happen to make millions and become independently wealthy as an artist, then fine-go for all that later on. But, if you have to have that expensive vacation home in the most desirable location, then maybe being in the arts is not for you.

3. Your Rainy Day Fund

It is recommended that people with a steady paycheck put away eight months of income in case they loose their job. In the arts, it's a good idea to try and put away three years worth if you possibly can. Not an easy task, but if you can achieve it, you'll sleep a lot better at night.

4. Saving For That Rainy Day Fund

How to save for that desired artistic rainy day fund? If you can put a little bit away each month and leave it in a safe place, a place that adds interest-bonds or CD's for example, you will be amazed at how much you can accumulate. Forget any quick short cuts, they almost always backfire, and it will sabotage your art career.

5. Forget That Credit Card

Nothing can kill a career in the arts faster than credit card debt. If you know you can't pay for it when the monthly bill comes, then don't buy it.

6. Keep Receipts

On your taxes declare your art income and your art expenses. Keep receipts because if you are ever audited, you will need proof of your expenses.

If you have an accountant that does your taxes, that expense can be written off next year, and he or she will probably know how to do your taxes a lot better than you do.

7. Pay Quarterlies

When you do receive income as an artist, put a third of it away for taxes. You not only pay the IRS, but state taxes and Social Security. Social Security tax is 15%, as an artist you pay it all, you don't have an employer to pay half.

Pay Quarterlies, which means as an artist you pay a partial amount towards your taxes four times a year -- ask your accountant about this. If you make a lot of money that year, you won't get a huge tax payment that you hadn't planned on. If you don't make a lot of money that year you'll get a very nice tax refund. Both you and the IRS will be happy. (You can put the tax refund in the rainy day artist fund, instead of putting it towards that red Ferrari).

8. Health Insurance

Try and get health insurance. It's a luxury many artist's feel they can't afford, but it's important. In many cities there are art organizations that you can join for a nominal fee, which have group health insurance. If you live in a smaller area you can often get reasonably priced group health insurance by joining your local chamber of commerce.

9. Vocation

All of these tips assume that being an artist is your vocation. A vocation has been described as "something you can't not do."

© Mary Baker 2005

Mary Baker is a contemporary realist painter, whose studio is in Newburyport, Massachusetts. This New England city, north of Boston, has been the inspiration for the artist's realistic oil paintings. Mary Baker is a professional artist and has shown in New York art galleries. Mary's art work has passion, depth and beauty, capturing moments in time that many people pass by.

You can visit Mary's website, Mary Baker Art, at http://www.marybakerart.com , see her beautiful paintings and read her comments on creativity, the creative journey, the creative process, Art, Artists and Vocation, Tips on Breaking the Creative block and creative space—the illuminating silence.

Other Article Sites

findabook.com  moneycd.info  a-mortgage.info   about-lemon-laws.info  aboutstudentloans.info
all-about-publishing.info  auctions-articles.info  bestcollege-university.com  bestispconnection.com
biblefolder.com  blogger-website.com  books-used.info  brokers-guide.info  buywindows.info  cable-dsl.info
career-miner.com  carpel-tunnel.info  cashinaflash.info  cashloanreviews.info  casinobell.com  chat-house.info
clearmycredit.info  collegeloantips.info  crones.info  depression-articles.info   dirnic.net  dishguides.info
divers-below.com  expodog.info   financewizz.com  fire-insurance.info  getgood.info  handleit.net   it-idea.info
health-supplies.info  hosting-right.com  insidealert.com  insurance-facts.info  jobs-employment.info
justgood.info  lookgold.net   lowcost-travel.info  money-source.info  myhostzone.info  numisblog.com
peoplesearchfinder.info  pr-articles.info  realeas.com   refinancing-guides.info  spyware-remove.info
telelot.info  the-law.info   toppaid.info  travel-deals.info  travelcorrect.com  wedding-guide-site.com
your-blog.info  your-credit.info

Coin Collecting At FindaBook.com
Search For Books On Coin Collecting

Dole With World of Warcraft Gold
Computer users of indefinite numbers have fun with online games and some of the players of multi player games are almost addicted to their favorite games like World of Warcraft. The secrets of farming World of Warcraft gold matters the most because in this massive multiplayer online role playing game, your success solely depends on getting gold. It does not matter or bother what kind of character you choose to play; in any case you have to have gold to survive.

How a 21 Year Old Makes Enough Money To Go To College For Free
How many times have you stayed up to watch a late-night infomercial, explaining to how you could ?make millions? doing hardly any work?

Adsense Arbitrage For Money!
Starting a couple of days ago some publishers engaging in Adsense Arbitrage have received the dreaded your business model is unfit and we're giving you the can email from Adsense. ezinearticles. Without traffic you cannot possibly hope to make money fast from Adsense Arbitrage or any other affiliate program for that matter.

Battle Of The Riches: Good vs. Evil. Which Side Is Money On?
Why Become Wealthy? Believe it or not, I?ve actually been asked this question by a student of mine! She totally did not get why anyone would want to be wealthy. After asking her to define what it was to be wealthy for the class I quickly became aware that she had a mental block to becoming wealthy. To her, ?Rich? people acquired their secure financial state by abusing and crushing those around them to gain more and more money.

PayByCash Becomes the Sole Western Company to Process and Accept Yandex Money E-Wallet, Extending Secure Payment Options to the Largest Web Portal in
PayByCash? now accepts and processes Russia's Yandex Money E-Wallet Internet payment method for online merchants world-wide.

Have Enough Money to Change Careers - Five Key Steps
At every talk I give, I ask the audience to tell me the reasons why people don't change careers. The most common answer given each time is "lack of money.

7Sultans Online Casino Launches Biggest Free Money Offer Ever
7Sultans Online Casino launch their biggest innovative casino promotion ever, a dynamic $/₤/€50 Absolutely Free.

Tracy Melton's Bad Company Fishing Team is Leading Money Winner in 9th Annual Los Cabos Billfish Tournament
Bad Company, a fishing team consisting of Tracy Melton, Capt. Anthony Hsieh, Tracy Epstein, and Kevin Nakamaru, was the leading money winner in the 9th Annual Los Cabos Billfish Tournament held last month.

Ten Top Money Making Strategies For 2008
What does 2008 bring to the average American? Does it fill you with dread or with a promise of better things to come? If learning ten new ways to make money sounds like what you may be interested in, do read on. This article will highlight ten top ways that you can make money in 2008 to generate some extra income and hopefully one of them would prove successful for you to carry out on a more regular basis.

Make More Money with Marketing Metrics
Do you know how effective each of your individual marketing tactics is? Many small business owners market in a vacuum. They spend money on brochures, advertisements and web sites with no real way to tie specific results to specific endeavors.

Show Me the Money!
Are you ready to raise money for your startup?Leslie Mitts, Managing Practice Leader at the Wharton SBDC and Lead Advisor for the Wharton Venture Initiation Program, tells us that most entrepreneurs coming through her programs are focused on raising capital, even though there are higher priorities in many of their businesses. Since fresh dollars help drive the business engine, this is a natural entrepreneurial concern.

How To Clean Silver, Gold and Pearl Jewellery
We all wash our clothes regularly and keep our shoes well healed and polished , so why is it that jewellery is not often treated in the same way?

Get a Home with No Money Down
Buying a home is an expensive proposition. Not only do you have to worry about the cost of the home itself, but also the closing costs and other associated fees. One of the main things that keep people out of the house hunting market is the down payment that has traditionally been called for when obtaining a mortgage. Typically this down payment was between ten and twenty percent of the total cost of the home.

T & K Futures and Options Predicts Multi-Decade Highs in Gold Futures Prices
The weakening US Dollar, inflation, ETF's, lack of gold production expansion and increasing investment demand may push gold futures prices to multi-decade highs in 2008.