Manage Your Money As An Actor

At any given time, more than half of all actors are out of work. Acting is a business in which job security is virtually nonexistent. One month you can be basking in the success of a hit play or blockbuster film, and the next month you can be out of work with no future acting prospects in sight. If you want a career with more stability, go into health care, education, accounting, law or engineering. But if you're committed to a career in acting, be ready to live on a tight budget until you hit it big.

To help you track where your money is coming from and what you may be spending it on, consider using a money management program, such as Quicken or Microsoft Money. After using one of these programs for a few months, you may be surprised at how much (or how little) money you're earning and how much money you're wasting. Also, be sure to visit our managing your finances section for more information about personal finance for actors.

Two of the best ways to keep yourself financially stable are to save money and eliminate your debt as much as possible.

To make ends meet, many actors get two day jobs. Be careful, though, because holding down two day jobs simply doubles the problems that you may encounter when you need to take time off to audition.