Finances can be one of the biggest stressors for artists, but it's rarely spoken about honestly in the creative industries. That's why for Day 1 of Mental Health Week, we're embracing real talk. In addition to our Career Pathway Advisor Clinton Scott's fundamental advice, we've got some handy resources you can rely on to help ensure your financial wellbeing.
FINANCE FILING SYSTEM
With experience as a Youth Mentor, Clinton is familiar with common mistakes that young people make that can eventually lead them to financial troubles later in life. One of these is filing. "Use a file or folder system for bills and finances in your email, computer, Google Drive, Dropbox, etc," he recommends. "Save all of your tax and banking info together and keep it secure with a strong password" so not only can no one gain access to your personal information, but come tax time, you know you won't have trouble keeping track of old invoices.
STARVING ARTIST PODCAST
A podcast aiming at breaking down barriers to chatting about money in the arts, Starving Artist features conversations with creatives about the issues we tend to avoid dwelling on. Creator Honor Eastly wrapped up the podcast in 2018, but all its episodes are still available to listen online, including negotiating raises with writer Wendy Syfret, freelancer tax shame with artist Jeff Phillips, and career planning with Becky Sui Zhen.
DO A FINANCIAL BOOTCAMP
In a pinch? Why not try reaching out for some free financial advice? Sometimes the best help derives from a one-on-one conversation, and organisations like Salvation Army and Better Place Australia offer exactly that via bookings. Or you can boost your financial literacy by signing up to the Urban List's Financial Wellbeing Bootcamp, curated by The Broke Generation's Emma Edwards.
DON'T BE AFRAID OF DIRECT DEBITS
It can be daunting to organise a direct debit on bills, but Clinton says it can help you in the long term, especially with your essential one. "You need your phone for work or job hunting, so if you forget to pay the bill, it can impede your ability to earn money to pay the bills," like an unfortunate cycle! Sometimes it can be better to take a leap than to encounter obstacles in the long-term.
One in three Australians find dealing with money stressful and overwhelming. So Moneysmart is here to improve our financial literacy, helping us to make informed decisions about our money. Part of the Australian government's national strategy, the website hosts a plethora of resources on banking, loans, investing, super, insurance, as well as COVID-specific issues.
Collarts students and alumni can access our Wellbeing Practitioners by contacting email@example.com and contact Career Pathways Advisor Clinton Scott at firstname.lastname@example.org.