One of the biggest challenges for many newbies in the entertainment industry is trying to balance the lack of having a consistent paycheck like working a 9-5 job.
Actually, it can be an ongoing challenge for even those with a long show business career.
In the industry, getting paid is often called feast or famine. Entertainers will receive a huge paycheck for a project, but they may not work and get paid for a long time between gigs.
In addition, there are little things called taxes and fees.
Comedian/actor/producer Kevin Hart, who today is on the Forbes list as one of the wealthiest celebrities says he learned financial lessons in the industry the hard way.
Kevin writes in his book, “I Can't Make This Up: Life Lessons” that his
first big show business pay check was $25,000. However, when he got the check, taxes and his agent’s fees were taken out among other things. He was shocked that he only received $12,000 from what he thought would be a lot of money in his bank account.
This is one reason why Backstage Economic Alliance was created to help people in the entertainment industry like you, learn not only how to budget your finances, but to educate yourself on what to expect. We don’t want you having any surprises which you can’t handle.
We have classes, one-on-one counseling, and speakers at our events to teach you about finances. We also provide financial resources and other educational tools.
It’s our mission to help you monetize and organize your finances. You can’t fully create when you are struggling and worried about money. We want to you succeed so you can continue doing the things you love in the entertainment industry and to become prosperous.
Become a BEA member today!