Optimizing & Increasing your Income as an Artist
Well, of course, I'm going to say get a side-hustle! It's my 1st instinct since that's what I did as a working artist. Creating something from scratch always made me excited and some of my hustles became small businesses. Haha!!!! However, it is not the only way to increase or optimize income.
Why do you want to optimize or increase your income?
To no longer live paycheck to paycheck?
To continue to be financially solvent when it's 'not your season' and auditions are slow?
To get out of debt?
Thinking of future wealth, projects and lifestyle?
BIGGEST REASON - FINANCIAL FREEDOM = LESS STRESS
When I think of this stuff I think of it as buckets of possibility:
Making your hobbies and natural skillset make you money should give you the freedom to turn these examples on and off as you wish! This list works if you have extra time to fit in a side hustle, giving you control over the frequency and the product.
Monetize a Blog, Vlog, Podcast, Youtube channel!
Drive people around - Uber.com and Lyft.com etc.
Rent Your Car - Turo.com and Getaround.com
Freelance - Fiverr.com, Upwork.com, Freelancer.com, Guru.com
Sell Products - Teespring.com
Short-Term Rentals - Airbnb.com, VRBO.com
Dog/Pet walker - Rover.com
Babysitting - Care.com & Sittercity.com
Shop for people - Instacart.com
Local Services - Snow removal, Lawn care, TaskRabbit.com
Transcribe Audio to Writing - look at any freelancer website for opportunities
Become an online influencer.
Become a Brand Ambassador.
Delivery Driver - DoorDash.com, Grubhub.com, Roadie.com
Monetize being a reader for self-tapes and audition prep WeAudition.com
Looking at all the places your money sits and travels, where can you maximize what it does or makes while it's there? Maximize your checking, savings, credit cards, retirement accounts, and funds. Ask an expert for help, but looking into this can be eye-opening and financially beneficial.
Savings Accounts with the best interest rates. (Shop around)
Money Market accounts may be the way to go. (Do some research)
Acorns.com - Invest your spare change!
Rize.com - After each paycheck, Rize moves money from your checking account to your Rize account and applies it to your savings goals.
Roth IRA (Do some research)
Look into your employer's 401K. (Ask your employer)
Get credit cards that either have miles or points for upgrades and rewards etc. (Research)
Ask The Institute for Financial Wellness for the Arts for help!
Whether it is seasonal or not, all of us can afford to get rid of something! Why not get a few dollars for it? If you make anything, why not sell it for more than it cost to make. If you want a pricing session, let me know ... I gotchu!
Sell your stuff online - Decluttr.com, Craigslist.org, Facebook Marketplace, Nextdoor.com
Make and sell on Etsy.com
Have a garage sale!
Sometimes making a bigger effort at a side-hustle can turn it into a major moneymaker for you. Invest in classes or certifications to up your game and really make a go at raising your status at work, or starting a real business. This list is not even the tip of the iceberg.
Make and sell on Etsy.com
Get certified to be a personal trainer, pilates instructor, yoga instructor, Barre Class instructor, etc.
Become a Tutor - Tutor.com
Become a Party/Event Planner!
Photographers can sell online images - Adobe Stock Photos, Shutterstock.com, Alamy.com, Etsy.com, Tourphotos.com, Bigstockphotos.com
ASK FOR A RAISE!
Become a Vocal coach, Singing teacher, Dance teacher, Choreographer, Acting coach, Director, Intimacy trainer for Theatre/TV/Film, Entertainment/Art critic, Writer for publications on arts and entertainment.
Start a production company, dance company/studio, acting company, etc.
And so much more ...
Please add to these lists. Share all the ways you are using your research, artistic talents, creative gifts, natural skills, and learned skills to optimize and increase your income as an artist!