A lot of this blog was came about because when I was looking for financial tips, so few seemed to apply to the touring life – which is what I have largely lived during my time in the arts.
There are some definite benefits to building a nomadic career and, of course, some unique challenges too.
While for those in arts focused on building a career in a particular city and living a more sedentary life are able to use a lot of the generic personal finance info I found online, that’s not always true for those on the go.
For instance, side hustles are particularly difficult to pick up if you tour.
If you work in the arts steadily in one city, there are still challenges, like needing flexibility for auditions, interviews, and matinee performances. However, there are some perks to being in one spot.
Gigs like substitute teaching, food service industry, babysitting or temping are more readily available to you.
You also have an easier time setting up a monthly expense budget. Things are likely more settled for you. You know your rent/mortgage amount, utilities cost, gas/public transportation expenses, etc.
It’s also a little easier to make a lot of frugal choices when you’re stationary. Bringing meals to rehearsals and work is a lot easier when you have a kitchen. Cutting coupons is easier when you know what grocery store you’ll be shopping at this week.
Even optimizing services like being able to pick banks with the highest interest rates and lowest fees, instead of based on needing international services, or being able to negotiate your internet provider instead of just having to accept the one WiFi hotspot provider that covers most of the country. Those little things can add up.
Additionally, you can build a strong local network over time, and that network can provide you with more work opportunities and some security when other work comes to an end.
If you live on the go, you need a location independent side gig. And if you’re touring to difference places weekly, you may also need gigs that are task orientated with due dates rather than “I’ll log on for this meeting a 9:00 AM EST” because you don’t know if you’ll have reliable enough internet for that.
A big reason why I stuck with my blog for so long is that for quite a while, it was the most convenient side hustle I had access to while on the road. I could write my posts weeks in advance, if necessary, and preschedule social media – all whenever I had good internet.
You also have to watch your banking option when you tour. You want banks that available all across the country you tour in or even accessible internationally (fortunately, this has gotten a lot easier in the last few years).
The same with credit cards. If you’re working on international tours, you want to make sure you’re not getting walloped with currency transfer fees with every transaction.
Touring artists also need a plan for those times between gigs and tours. If you have family or friends who will take you in, that can be an incredible help, but if you don’t, you still have to pay rent or a mortgage somewhere.
House hacking can be a very useful thing to look into if that’s your situation. Taking in one or two roommates If you’re barely ever home keeps the house occupied and most, if not all, of the monthly expenses paid.
Both lifestyles have their pros and cons, the goal is to figure out what each are and then optimize them the best you can.