Balancing Your Money In Acting

The world of acting isn’t typical like a regular job where you get a standard pay check every week. Often your pay is sporadic. Sometimes you have a big amount of money and other times a little trickles in here and there. You have to learn to budget when you get the big checks to last a long time otherwise you can go for ages without money. It can be tempting to spend a big check and people in the industry are anxious to help you spend your money.  It’s important to manage your money carefully while you continue to look for future work and watch out for scams and cons.

Supplement Your Income

Many actors continue to work part-time while they build their acting career so that they have a steady income to pay the rent and their bills. Most agents only take a percentage of what you earn so if you don’t work, you don’t pay them. When you do get paid, be sure to put money away for taxes and for the days when you are not working. Droughts can happen in this business and being prepared for them is important if at all possible.

Because the world of show business is so unpredictable, it’s a good idea to have a secondary source of income. There’s a joke that all waiters in Hollywood are actors. While you want to have time to pursue auditions and attend acting classes or workshops, you won’t be on top of your game if your power has been turned off and you need a working phone line to be able to get a call back so it’s wise to have a backup plan for earnings. Try to find a flexible job that allows you the ability to work around your acting schedule.

Taking Sound Advice

We have plenty of tips, warnings and advice for working and beginner actors to help you avoid scams, save money, invest your income and to help you live frugally and save on expenses. We even offer tips to help you find ways to live rent-free.