by Chris | Sep 29, 2015 | Housing, My Financial Journey
** This is part two of a longer story, if you want to understand what’s going on I recommend starting with PART ONE (which is packed full of intensely awesome action), but if understanding isn’t a priority… by all means… read on!**
Everything was falling apart because tax reporting is dumb.
Well, it’s not really dumb (it’s actually pretty logical), but allow me this moment of sulking.
But Mimi isn’t as easily daunted. She wasn’t ready to give up quite yet. She started looking into other possible arrangements, but it was me (after I was done pouting about dumbness) that asked if my numbers could possibly help the situation.
I don’t make a ton of money. I get by, but I’m not making “downpayment money” (still a few too many holes in the old freelancer schedule). But since she only needed a little bit of a boost to get over the line, it was my chance to be a knight in shining armour.
And so we talked about it.
It’s a big decision to go in together on a piece of property, and even though I wasn’t thinking of it as ‘mine’ in any way (it is all her money after all), legally it does end up showing up on both of our financial reports and there’s always enough liability to go around! (more…)
by Chris | Sep 28, 2015 | Housing, My Financial Journey
If you’re not from Toronto, there’s one thing you have to know before this story starts.
Toronto is lousy with condos. We have so many of them.
It’s basically just one big condo.
So when it comes to thinking of them as an investment, they don’t exactly get me excited. Actually, if I’m completely honest, real estate doesn’t really get me that excited. That doesn’t mean it’s not a great thing to invest in (tons of people do) but it just doesn’t pump me up.
But my girlfriend has been bitten by the real estate bug. It’s something that really interests her, and for the last few years she’s been looking for an opportunity to get into the market.
Except that the Toronto market is … um… not super friendly to first time buyers these days. So after meetings with a great mortgage agent, running numbers, and exploring some possible situations, recently she accepted the fact that it wasn’t the time to buy and resigned herself to growing her nest egg.
Which is what makes what happened over the last week so unexpected.
It’s the story of our first foray into Toronto real estate… and man… nothing could quite prepare us for the ride. Seriously… things got weird. (more…)
by Chris | Sep 26, 2015 | My Financial Journey
It’s been a busy summer. I’ve been away from home for most of the last 5 months, which is great (yay work), but it’s really good to be home… well… mostly.
The thing about home is that it doesn’t take long for all kinds of stuff to start piling up.
It’s simpler on the road. You do your job. You call your family (including the friends that make the ‘family’ cut). It’s a more focused kind of existence.
But when I’m home it’s a cornucopia of things. And they’re good things: friends, family, work. But all of a sudden I’m feeling a bit overwhelmed and I don’t feel like I’m getting anywhere.
I’ve been here before… it is (shockingly) not my first time feeling overwhelmed… and usually I play a game called: Get the Crazy Out. Or in not-crazy-person terms, I make a list.
A list. Always helpful right?
Well… kind of. Sometimes it’s helpful to see it all laid out in front of you. Then you can make a plan to tackle it. Plans are good. They generally lead to some kind of action. But sometimes when you lay it all out it just makes it more impossibly insane.
That was this week.
My list is stupid, and the more I kept working on it the more insane it got. I might as well have added cure cancer, and find Amelia Erhart to the list because there’s just as much chance of that happening as most of the stuff on this stupid list. (more…)
by Chris | Sep 24, 2015 | Students, Worksheet
I make terrible decisions when I’m hungry. As soon as my body runs out of sandwiches it’s a pretty straight line to poor decisions and being an emotional train wreck.
But even for people who don’t respond to food quite like I do… everyone knows not to shop when they’re hungry.
Perhaps not surprisingly, even though it has never ended well, I do it all the time.
When you’re hungry in a grocery store it’s easy to justify… anything.
“I need the biggest steak there is, no wait… TWO OF THEM… because… um…” *it’s already in the cart*
“I deserve these dunkaroos because I’ve had such a tough week stressing about how I have no work” #solidlogic
I think everyone can agree that saving money on food is a really nice idea, but when it comes to actually doing it, it’s just plain hard. We all end up eating what’s comfortable: whether that’s going to the local diner, or making the same meat and potatoes every night (regardless of price or season).
And even in the face of whatever admirable discipline we manage to muster, the grocery store/diner/whatever food source you’re going to flashes enough SPECIALS and 30% OFFS to completely confuse any logical part of your brain that might be left.
FACT: a great deal on something you don’t need… is still too expensive…cause… you don’t actually need it.
And to make matters worse, I am … not savvy. A good salesperson can sell me anything.
“Oh sir, you look great with that pork tenderloin.”
*Blush* “Really?” *sound of cash register*
So I have resorted to a tried and true method of defeating the impulse buy and saving a ton on groceries. (more…)
by Chris | Sep 22, 2015 | Building an Arts Business, Students
So you got into a great arts school, and your head is full of dreams about how awesome it would be to dance or sing or paint for the rest of your life.
Or maybe you just really like to act and you want to get better and learn, but haven't given much thought to what you'll do after you graduate.
Either way chances are it didn't take long for people to start talking about how few people 'make it' and how hard it is in the arts world... how you have to be the best to even have a chance of fulfilling your dreams.
Your dreams of turning this thing you're passionate about ... into enough money to live on.
The trouble begins
It's not that they're wrong. It is tough to make a living in the arts.
The thing that really burns my tomatoes is that in most situations schools are just focused on training for ONE kind of living in the arts.
For me, in music (opera), it was all about performance - a career singing on the world's grand stages.
It's a beautiful idea, but seriously hard to live out. And not because I'm not good enough or special enough (that's between me and my therapist), it's just a practicality: there are few stages and a ton of amazing singers.
But somehow, despite these limits, thousands of opera singers work out a way to pay their bills by working in the arts. So where was the talk during our training of the hundreds of other ways THOSE artists monetize their passion?!
What about building a teaching studio? Not just as a way to 'pay the bills', but on purpose... because you love teaching.
What about leaning to be a producer and make your own art? Starting your own company? Touring?
The danger of the single minded drive:
The problem with this intense, in my case big-operahouse-performance based, focus is that it sets up the idea of success and failure.
If you don't succeed at making a living in the arts in that hyper-specific way... you failed. You are not an artist.
Hand in your badge and your gun. You are the weakest link.... goodbye...
Can we all agree that that's insane....?
You've been an artist since your first chocolate pudding painting, and you'll be one until you die. How you make your living has nothing to do with that.
Also, most artists are CRAZY DIVERSIFIED. We make a little money here... a little money there. Some in the arts ... some outside of it.
That's just reality. But it's not a reality that our training reflects.
So consequently a great cello teacher can feel a little ashamed because their performance calendar isn't super full, even though they're pulling in a great living with a full studio.
A wonderful singer can't identify as an artist anymore because she works in marketing (even though she spends 5 evenings a week at choir rehearsals or teaching lessons).
To monetize or not to monetize
Making money doing what you love can be great. But it can also come at a cost.
There's a lot of pressure to be creative on demand. The lifestyle is ... non-traditional at best...
But whether you make money as an artist or not, never feel like your 'artist status' is on the line.
Making a living is all about finding the right balance for you. Every choice comes with a consequence.
Do you want stability or variety? Lots of money or lots of time? To be a part of a team or to be your own boss?
And if the arts really appeal to you... know that there are thousands of artists making a living in unique ways. Don't let someone tell you there's a 'right' way to do it. Let that fountain of creativity flow out of the practice room and into the rest of your life.
And create something beautiful (that also, hopefully, pays the bills).
Want to start getting control of your money? How can I help?
Financial Planner/Opera Singer
Money never came naturally to me. In fact... I was a bit of a disaster. I remember (very clearly) what it feels like to be 'financially out of control'.
And honestly, I still get stressed about money... that doesn't stop... the difference is that now I have the tools to deal with that stress.
And those tools are what's made it possible for me to build a life full of the things I want: art, creativity, travel, family and more.
If you want to start getting control of your money I'd love to help. You can start with THIS QUIZ, visiting my GETTING STARTED PAGE or by checking out my SERVICES page.
