Master Your Finances
Music teachers believe that they chose a career destined for poverty. This is a self-fulfilling prophecy, and a lie the world has told us. You can retire wealthy as a music teacher. But, increasing your income will not solve the problem. Learning how to handle the income you have will. More importantly, managing your finances will open a world of possibilities and excitement for your future.
My life changed forever when I began taking care of my finances, deciding to live on cash and never use credit again. After creating my first monthly budget, I came to the sad realization just how little I was being paid at my full-time community music school job. I wouldn't be able to save for retirement or my kids' college on this income. I couldn't love my work knowing this was what my future held.
This compelled me to increase my income. I quit the community music school job, started teaching on my own, and then opened a community music school of my own. Now, I not only have a future to look forward to, but can make personal and business decisions with complete peace of mind. Most importantly, I can pour all of my heart into the work I do.
Anyone can do this. But, it's not a quick fix. It's about changing your mindset, changing your behaviors, and adopting new habits. Financial freedom comes down to three critical elements.
Living on a Budget
By creating a plan for your income, you tell your money where to go instead of wondering where it went.
Destroy Your Debt
Debt has become normal, but is the enemy of a peaceful financial life. Say enough is enough and eliminate debt for good.
Only Use Cash
Living on cash makes your decisions easier. Whether it’s a purchase you want to make, or a major life choice.
Changing Your Mindset Around Money
Living paycheck to paycheck with overwhelming debt has become normal. Musicians and music teachers are told they picked a low-paying field. All lies. But, the first step to financial wellness is reframing your perspective on how money works. These posts will help you break free.
The Budget Lifestyle
Living on a budget doesn’t mean depriving yourself. It means creating a plan for your monthly income. Telling your money where to go so you don't wonder where it went. The alternative? A stressful life of living paycheck to paycheck with increasing debt. These posts will help you get started.
Increasing Your Income is Not the Solution
Many music teachers believe they picked the wrong career for a life of prosperity. That doctors and lawyers are the ones who have it made.
This is the false narrative we tell ourselves. For years, my heart has broken for the students who will never benefit from a music teacher who goes back to school to become an accountant.
The saddest part is, this won’t make your money problems go away. Changing your behaviors will.
There is no income level that will make up for overspending, taking out huge loans for cars and homes, using credit cards, and living beyond your means.
What's Possible When You Have Control of Your Finances
When you have control of your finances and reach the income level you need to achieve the things you want, miraculous things happen.
In addition to the peace of mind, you also get to be generous. Not only financially generous, but generous in spirit with the students you work with. Because the “How am I going to make ends meet?” and "What does my future look like?" questions have been taken off the table...permanently.
It's Time for a Change
For centuries, musicians and music teachers have lived out this famous false narrative. The brilliant yet broke composers, musicians, and teachers whose lives were shaped by the upper class who got to make all the decisions.
Many of these decisions shaped the direction of music itself. Were they the right decisions?
It’s time to take control of our lives and destinies again. The steps are simple, and anyone can do them. If you’re ready to get started, you’ll find all the support you need right here.
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