I'm A Millionaire!
When I was a little girl, and I was first asked who I want to become when I grow up, my answer was that I want to become a millionaire! That was before I really understood what that meant.
Artists, like myself, who didn't grow up in upper class families or where art was not valued, need to get healthy relationship with money, or they might never be able to make a living from their work to do art as most art is not payable.
Stress and insecurities that artists have without regular monthly income can be quite unbearable in this capitalist world we live in and can develop self-doubt. Artists to have a regular income would be good idea additionally to their art, to do business, have good retirement fund and make investments: real estate, stock etc. But where do the artist get the money to start with? Good to keep in mind is that there is never too little money to start saving to invest also into something other you believe into than your own art work.
Why is handling your finances so important? Because when financial side is taken care of, often artists find their careers, lives, fullfilling and productive. They don't lean back and enjoy the profit they are earning. They are not there to make a quick buck and then head to Bahamas. Or if they go to Bahamas, they are productive there. But mainly it is good to have a pillow to fall onto, you don't have to accept the jobs you don't want to and you have freedom to focus on your passion. Most important thing is to have multiple money streams, so if one well is dry others can compensate.
To start you need to learn as much as possible about running art business and investments. Otherwise, how can you fix a situation you don't understand? One simple thing is to make sure that you have your money on the right kind of savings account, keeping in mind that inflation is about 2% every year. Make monthly budgets, including savings. Wallet app is great for that. Keep also track on your incomes, so you always know how much money is coming in and when. Always take care of your needs, but you can save on your impulsive wants.
Give yourself options to make money, selling your art is one thing and most know about grants, but there are ways to earn in ways that are not first in the mind. Teaching workshops, giving lectures or working part-time for short period on a field that you do research for your next project. Be organized on your business and examine the price of your art. And remember the price that you can get from your art is not your self-worth. No matter what profession you have, how much or little money you make, does not equal your self-worth. If your work is out there in the world for others to see, society will attach some sort of price tag to it no matter your rebellion.
But even if you would have that ideal monthly paycheck as an artist or be a successful, money making, real estate dealer, if you don't follow your passion, you will hardly be happy.
2 million Vietnamese dongs, Phu Quoc Island, Vietnam
Lucky for me, I have been millionaire already at least 2 times in my life. At the moment I have 7 million dongs in my pocket, couple of years ago in Bali I had millions of Indonesian rupiahs. It doesn't really matter much as the bunch of bananas cost 30K. But when I think now what I would do if I would be an euro millionaire, I would pretty much live my life as it is now. Just would have one factor in my life not to stress about, ever. Maybe I would invest more on real estate and renewable energy, nature reserves and give money to 3 non-profits that I know for sure are doing a good job: Blue Ventures, Wildtracks and Sea Shepard.