{"id":463,"date":"2011-03-22T01:31:39","date_gmt":"2011-03-22T08:31:39","guid":{"rendered":"http:\/\/beautiful-landscape.com\/Reflections\/?p=463"},"modified":"2023-09-04T13:54:40","modified_gmt":"2023-09-04T20:54:40","slug":"financial-management-top-10-for-artists","status":"publish","type":"post","link":"https:\/\/beautiful-landscape.com\/Reflections\/financial-management-top-10-for-artists\/","title":{"rendered":"Financial Management Top 12 for Artists"},"content":{"rendered":"

Financial Management Top 12 <\/strong>for artists<\/strong><\/em><\/p>\n

1 \u2013 Do not get in debt
\n– Pay off our debt
\n– Collect interest, don\u2019t pay interest
\n– Not paying interest is the fastest way of saving money<\/p>\n

2 – Live below your means
\n– That\u2019s the only way to get ahead financially
\n– Otherwise we’re living day to day<\/p>\n

3 \u2013 Learn to save, not to spend
\n-Constant growth taught us how to spend
\n– Continued recession is teaching us how to save<\/p>\n

4 \u2013 Know the difference between assets and liability
\n– Assets generate income.
\n– Liabilities cost us money<\/p>\n

5 \u2013 Calculate your net worth
\n– It\u2019s everything your own minus everything your owe<\/p>\n

6 \u2013 Invest, don\u2019t speculate
\n– Investing is knowing we will get a return on our money
\n– Speculating is hoping for the best outcome<\/p>\n

7 \u2013 Diversify your investments
\n– Don\u2019t put all your eggs in the same basket.\u00a0 One fall and they\u2019re all gone.
\n– Instead, diversify so that if something happens you don\u2019t lose everything.<\/p>\n

8 – If you run a business, do not reinvest everything in it
\n– Artist-based businesses have no resale value
\n– That\u2019s because the value of the business is us.\u00a0 If we are gone, the value is gone.
\n– We must re-invest outside of the business in things that have resale value.<\/p>\n

9 – Do not expect fame, or \u2018being discovered\u2019 to bring you wealth
\n– Instead, take the necessary steps to build up your net worth now
\n– Wealth is rarely acquired all at once.
\n– For most of us it is an gradual process, not a jackpot.<\/p>\n

10 \u2013 Work towards generating residual income
\n– This means generating income that is not tied to your time
\n– There is a limit to how many hours a day you can work.
\n– But there is no limit to how much you can make through residual income<\/p>\n

11 – What matters is how much you keep, not how much you make
\n– Who cares if you make millions if you keep none of it
\n– Lowering your expenses is the most effective way of increasing what you keep<\/p>\n

11 \u2013 Plan ahead
\n– Hard work and long hours are not enough to generate financial wealth
\n– You have to have an organized plan<\/p>\n

12 \u2013 Manage your \u00a0finances yourself
\n– Don\u2019t take a chance by having others manage your money for you
\n– It\u2019s ok to have financial advisors
\n– But its not OK to let them take decisions for you
\n– We are the one that cares the most about our financial well being.<\/p>\n

Alain Briot
\nhttp:\/\/www.beautiful-landscape.com <\/a><\/p>\n

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Financial Management Top 12 for artists 1 \u2013 Do not get in debt – Pay off our debt – Collect interest, don\u2019t pay interest – Not paying interest is the fastest way of saving money 2 – Live below your means – That\u2019s the only way to get ahead financially – Otherwise we’re living day…Continue reading Financial Management Top 12 for Artists<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":16748,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[27,43,28,29,26,32,35,33,38,52,37,47,40,48,39,30,36,44,31,34,42,50,41,49,46,51],"class_list":["post-463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marketing","tag-alain-briot","tag-antelope-canyon","tag-art-2","tag-canon","tag-composition","tag-digital-photography","tag-fine-art","tag-fine-art-photography","tag-grand-canyon","tag-landscape-photography","tag-landscapes","tag-leica","tag-lightroom","tag-marketing-2","tag-navajoland","tag-nikon","tag-painting","tag-personal-style","tag-phase-one","tag-photography","tag-photography-ebook","tag-photography-workshop","tag-photoshop","tag-selling-photographs","tag-sony","tag-workshop"],"_links":{"self":[{"href":"https:\/\/beautiful-landscape.com\/Reflections\/wp-json\/wp\/v2\/posts\/463","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/beautiful-landscape.com\/Reflections\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/beautiful-landscape.com\/Reflections\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/beautiful-landscape.com\/Reflections\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/beautiful-landscape.com\/Reflections\/wp-json\/wp\/v2\/comments?post=463"}],"version-history":[{"count":12,"href":"https:\/\/beautiful-landscape.com\/Reflections\/wp-json\/wp\/v2\/posts\/463\/revisions"}],"predecessor-version":[{"id":16777,"href":"https:\/\/beautiful-landscape.com\/Reflections\/wp-json\/wp\/v2\/posts\/463\/revisions\/16777"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/beautiful-landscape.com\/Reflections\/wp-json\/wp\/v2\/media\/16748"}],"wp:attachment":[{"href":"https:\/\/beautiful-landscape.com\/Reflections\/wp-json\/wp\/v2\/media?parent=463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/beautiful-landscape.com\/Reflections\/wp-json\/wp\/v2\/categories?post=463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/beautiful-landscape.com\/Reflections\/wp-json\/wp\/v2\/tags?post=463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}