Are you tired of living paycheck-to-paycheck, being broke and in debt, and watching everyone else become independently wealthy? Well, you’ve come to the right place. Most musicians will admit they know little about personal finance.
In Personal Finance for Musicians, music industry and finance experts Bobby Borg and Britt Halsey coach you on how to:
With step-by-step action tips and short digestible chapters that can be read in any order, this book is presented in a no-nonsense, easy-to-read style that any musician can grasp. The objective is to educate and inspire you, without intimidating, or even worse—boring you. Let this book be your guide to financial success today!
Bobby Borg, MCM, is a former recording/touring artist, the founder of Bobby Borg Consulting, and the author of The Musician's Handbook, Music Marketing for The DIY Musician, Business Basics for Musicians, and Introduction to Music Publishing for Musicians. He is adjunct professor of music industry studies at University of Southern California’s Thornton School of Music.
Britt Hastey, MBA, is the department chair of the business administration department at Los Angeles City College. He is also an adjunct professor at UCLA, University of Massachusetts, and Chapman University where he was awarded Faculty of the Year in 2004 and serves as an advisory board member for the UCLA Financial Programs Council. He holds an MBA from Chapman University and a BA in Corporate Finance from California State University, Fullerton
Part 1. Getting Started
1. So, What’s Personal Finance All About?
2. Eleven Barriers to Personal Finance and How to Overcome Them
Part 2. Income
3. Fifteen Types of Money Independent Artists Can Make
4. Twenty Money-Making Ideas and Side Hustles for Musicians
Part 3. Savings
5. Ten Tips for Spending Less and Saving More
Part 4. Accounting
6. Get Your Financial and Business Records in Order: Twenty-Five Tips
7. Three Accounting Documents to Examine Your Financial Health
Part 5. Banking
8. Twenty-Four Reasons to Use a Bank
9. Major Pros and Cons of Using an Online Bank
Part 6. Credit and Debt
10. Ten Steps To Building “Rock” Solid Credit
11. Monitor Your Credit Via Reports and Scores: Nine Steps
12. Twenty Ways to Protect Yourself from Identity Theft and Fraud
13. Ten Tips to Getting (And Staying) Out of Debt
Part 7. Retirement Planning
14. Twenty-Six Questions About Retirement Planning for Musicians
15. The Seven Most Common Retirement Accounts (And Then Some)
Part 8. Investing
16. One Hundred Finance And Investment Terms Musicians Should Know
17. Seven-Point Checklist to Investing and Building Wealth
18. Nine Must-Know Quotes on Money, Investing, And More
19. Finding Experts to Provide Smart Financial Guidance: Ten Tips
20. Seven Investment Apps You Might Consider
Part 9. Insurance
21. Ten Types of Insurance You May Need in Your Twenties
Part 10. Taxes
22. Eleven Frequently Asked Questions about Filing Income Taxes
23. Six Steps to Organizing Your Tax Expense Receipts (And More)
24. How to Find a Tax Accountant to Do Your Returns: Ten Tips
Part 11. Estate Issues
25. Ten Ways to Prepare for the End (Depressing but Important)
Part 12. Wrap Party
26. Twelve Key Takeaways of Personal Finance for Musicians
About the Authors
This book contains time-proven personal finance and investing wisdom to encourage musicians toward their dreams. In a noisy world where everybody wants to sell you something, this book is the music of common-sense investing.
With short chapters that can be read in any order, actionable steps, and clearly-written text, this handy finance guide should be recommended course reading for any up-and-coming musician.
Personal Finance for Musicians wins "Best of Los Angeles Award", Best Musician Personal Finance Book 2022