Personal Finance for Musicians

by Bobby Borg, Britt Hastey

Overview

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 Hatsey coach you on how to:

• Make and save money
• Increase your credit score
• Protect yourself from identity theft
• Get out of debt
• Understand investment apps
• Invest responsibly
• Protect your assets
• Build a “freedom fund” for the future
• Limit your tax liability
• And so much more…

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!

Product Details

ISBN-13:	9781538163306
Publisher:	Bloomsbury Academic
Publication date:	02/28/2023
Series:	Music Pro Guides
Pages:	262
Product dimensions:	6.00(w) x 9.00(h) x 0.60(d)

About the Author

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

Table of Contents

Preface

Acknowledgments

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

Editorial Reviews

Stress is making musicians sick and killing their careers. One of the big sources of anxiety and depression is dealing with finances—enter Bobby Borg’s Personal Finance for Musicians which is required reading in my music industry stress course.”

Jerry Del Colliano

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.

Rick Van Ness

"Stress is making musicians sick and killing their careers. One of the big sources of anxiety and depression is dealing with finances--enter Bobby Borg's Personal Finance for Musicians which is required reading in my music industry stress course."

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.

From the Publisher

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.

Ashraf Almurdaah