If you find yourself constantly stressed about money, making poor financial decisions that get you nowhere, you're not alone. Learning to live a frugal life without feeling restraints is one of the biggest life lessons you can give to somebody. “I have the freedom to spend, but I can also tell myself no to a purchase,” is a healthy attitude. Often this means that you are emotionally balanced to not need material purchases to feel better.
But there is more. Working in a field you believe in but doesn’t bring in the big bucks fast, is a challenge. Choosing to become a lawyer or have a corporate career makes the attitude towards money very different.The problem of my personal career in the corporate world as an art director, was that I happened to be exhausted every weekend and spent all the money I made just to feel good again. Eventually I learned to listen to my intuition to work towards my financial goals. Buying a car was one of them.
My car was four years old, almost to the date before they declared it a total loss. This car was paid off. I bought it for $18,800, financed it for $4,200 for six years, but paid off $6000 prematurely. Total spent was $21,400. The bank would typically not loan money to an artist. For years, I felt forced to lease. “Lease, people say, is worry free”.Yes and very expensive. A lease would have been $350 a month adding it to $16,800 total in four years.
Having skimmed the financial world, this much I learned; never listened to other people. I learned to listen to my intuition. Many people said it is foolish to buy a new car. These are the people who have enough cash to buy whatever they want. I did not have that. Because of a part-time job and Covid, in 2020 I was able to have my car financed.
Last week I received $15,500 for being foolish.I just had to add some money from my savings and a patron to buy another, stronger second hand car, cash. Today I have no monthly payments for a decent car and can use my income to find a house.
Many advisors in the financial world know what to do with existing money. Only wealth creates more wealth. I also understand how to make more but I never knew how to make something out of nothing. The costs of my art business with websites, materials and space has been always a wash. There are few advisors in the field when it comes to low income (artistic) people. When you have no money, there are hardly any systems in place to create wealth and be authentic to your calling at the same time.
Then again……. everything is ‘figure-outable’
