The Money Problem: Musicians and Their Finances

What do you call a musician without a girlfriend or boyfriend? Homeless. Alright, it’s not that funny, but there is a lot of truth to it. Unfortunately. Most musicians struggle to make a decent living. It’s not easy to make a living playing music and it’s definitely not easy to make money and keep your integrity as a musician intact.

moneyWhile most of us respect musicians for never conforming to the norms society bestows on all of us, we fail to realize that chasing your dreams often times comes with a price. The music business is extremely competitive in itself, not to mention how hard it can be to find decent paying venues to play, or people to play your music to. That’s why, in this article, we will focus on providing a few tips and tricks for up and coming musicians and we will touch on the lives and everyday struggles of musicians and bring our readers closer to that world.  Whether it’s as simple as taking on an accountant for MYOB Services, or taking on a new social media strategy, there are plenty things you can do to take on the problem of money for starving artists or struggling musicians.

Most musicians nowadays underestimate the power of strong online presence. OK, you don’t want to be the next Justin Bieber (and thank God for that!) and post your videos on YouTube for preteens to watch, but did you know that one of the most famous alternative rock bands in the world at the moment, Arctic Monkeys, got where they are today because of the internet? Their fans made a MySpace fan page(yeah, this was some time ago) and their following just kept on growing.

On the other hand, there is no need to look down on YouTube either. YouTube is one of the most popular websites on the world wide web and people listen to music and watch videos there on a daily basis. Make your own channel, start by putting up covers of your favorite bands to get a decent-sized fan base and then upload your own songs – a good tune is a good tune and if it’s worth anything, there will be people who like it. Always provide contact and booking information in video descriptions, who knows who may be watching your videos?

Social media in general is a great tool for musicians, as are websites like Spotify and SoundCloud but nothing can replace eye to eye contact. Network – talk to club, pub, bar and cafe owners in your area, let them listen to your music and they may let you play there.

Another thing that’s frowned upon in the music subculture is playing in wedding and cover bands, but these bands make decent money and what’s so wrong with playing songs by your favorite bands to relatively large groups of people? Not only that you’ll get paid, this will also help you get rid of stage fright.

Stick To Your Guns – Be Who You Are and Don’t Give Up On Your Dreams

If you’re a young (or “old”, for that matter), struggling musician, always keep this in mind, whenever you’re having a hard time: Most people conform and give up on their dreams. You have been brave enough not to let yourself become one of them. You don’t get anywhere by just wishing to get there. Work hard, improve and most importantly, respect yourself for being bold enough to give yourself a chance. Never give up on your dreams. Someday, all the pieces will fall into place.

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