Financial literacy for artists Tag

Berna Anat – How do I Pick a Bank?


Berna Anat, is doing the damn thing when it comes to sharing financial information and literacy that is quick, funny, to the point, ethical, and aware of how not all financial advice applies to everyone. Especially to Black folks, Indigenous , Asian Americans, Latinos, etc.  I’ve been following her for two or three years and I have definitely felt informed and smarter after listening to her speak. Check out her new YouTube series!
For example, this is common knowledge to most folks, but for some reason it didn’t sink in to me until she broke it down. Using credit cards to make purchases helps you earn points which can be used to buy other things like plane tickets, or whatever you need depending on the card.
Dig this? I wrote about her when I heard she’s got a book dropping to break some of this down for young people and teachers. Get her book here

Finance, knowledge, shame- Berna Anat, Farnoosh Torabi, and Ramona Ortega

We all have debt whether you’re poor, working class, or middle class. Only the wealthy and ultra wealthy can possibly say they do not have debt. We all struggle with paying rent, mortgage, bills, and living life because of financial knowledge, historical theft, so much.

But Berna Anat really is an approachable, plain language, and funny person who is knowledgeable about debt and some of the cultural nuances that most white male financial planners talk about. Check out this talk! Really worth following her.

Farnoosh! Love her she has a great podcast called “So Money” with short practical tips and interviews with folks who specialize in specific areas of finance. I subscribe to her podcast to learn!!

Lastly, Ramona Ortega! I found Ramona through Backstage Capital (Arlan Hamilton). Her company My Money My Future/ Mi Dinero Mi Futuro is a financial advising school and service. I subscribe to her newsletter and it is awesome.
Yes you can get advice and services for finances. You don’t have to be a rich white man to get it either.
Inspiring women tackling finance for people who don’t have the time, but want to save, grow their money, diversify their income streams, and live life. Of course there is this thing called Capitalism , Racism, and Imperialism which maintains unequal distribution of wealth and has literally robbed folks. But thats a whole other conversation. 
Be well and get fed mentally!

Dollars and Sense 2- Budgeting, Residual Income, financial experts

Today I was listening to a show on NPR called Tell me more, when it transitioned to what I was looking for: A discussion on money. I regularly search for new music, I regularly browse blogs for inspiring things, and I daily, over and over again practice my craft. But what I do not do , which I am actually scared to do is get a better hold of my finances. There I said it. How many of you have this same fear? Or how many of you ignore the problem hoping it will go away? I know as I listened to a show with two financial advisors today I decided to write down their names and look them up. For some reason I did not think I would find any men of color who were certified financial advisors. I don’t know why, but I thought that.

The two men were Alvin Hall and Louis Barajas. Both gave solid advice on budgeting, understanding the stock market, but above all becoming more financially literate. So as a promise to myself I decided I would pick up this series of blogs with more insight as I find my way to a better financial literacy.

With that said here are some terms.

Dictionary definition: A budget is a quantitative expression of a plan for a defined period of time. It may include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows. It expresses strategic plans of business units, organizations, activities or events in measurable terms.

Definition from the advisors: A budget is not a diet. It’s not something to be feared, it is a plan. Lets say I want to be making enough as an independent artist to take a vacation (I know, sounds crazy, right?), or I want to purchase a life insurance plan for my child. The budget is a plan for how to get there and a way to look at where your money is going.

Residual income: 
Dictionary definition: Passive income is an income received on a regular basis, with little effort required to maintain it. It is closely related to the concept of “Unearned income”.
The American Internal Revenue Service categorizes income into three broad types, active (earned) income, passive (unearned) income, and portfolio income.

My definition. Normally I do a painting and get paid for it once. Residual income is getting paid for that painting every time it is used. So instead of collecting one big check, and one big check only, I’d collect one big check and many many smaller checks over a long period of time.

Disclaimer: To those f you who are financially aware, who have saved enough for what ever they want, or are experts at this. These posts are probably going to be of no use whatsoever to you. This is for cats (especially artists) who like me are not yet completely financially stable or literate. I hope my journey can help yours.

LISTEN: Alvin Hall
LISTEN: Louis Barajas

Dollars and Sense-1

“If it don’t make dollas, it dont make sense” -Bushwick Bill/ The Geto Boys

 Ok, so I’m going on a path of more financial stability and better knowledge of how to make money, save it, and get out of debt. Like many folks, I went to art school (among many schools formal/informal) and I have debt. Not only that, I’m a freelancer so sometimes if I’m not teaching it can be hard to save and plan with a paying schedule that is up and down.

 Financial literacy is a skill,a razor sharp sword that can arm you against poverty or leave you defenseless if you’re not literate in its language. I have a tiny working knowledge of it. No one in my family taught me to save money or necessarily how to do it. They all just stressed “work hard, study hard” (Korean grandmother voice*. And to be quite honest, there’s nothing wrong with working to maintain and provide. My grandparents worked well past retirement age, like so many of our relatives now.

But at a certain point you just want to break the cycle of being broke right? Not to say I don’t want future generations of my family to work, but to say I want to learn more about how to keep the wealth I make and pass it on. When I work it is selling my “time” so I’d like to have more to show for it at the end of the year. And for you lefties I’ll probably touch on the evils of Capitalism. Later.

Now though, instead of making excuses I will be looking for answers and asking a lot of dumb questions. Like this one:

Why do people use excel to manage their money? What is managing money? And How do you do it with Excel?

“I use a template that was made on excel. Can’t remember where i got it. Only useful cuz it adds stuff up. It was helpful for me to keep track of all my expenses for a few months to see where i am spending and where need to cut back”. -Sun (Homie/Mom/Do-er)

Heres a screen shot of my Excel”practice”. Yes, practice.

 Peep this video I watched .
There’s formulas to this shit god(Ghostface killah voice)!

If you’re scratching you head, Excel is a program that allows you to make organized spreads of numbers, items, and other things. It comes with Microsoft Office and if you are using a library computer, they usually have it under Microsoft office.

More on this and the path to becoming a man coming soon. Follow me on this nerdy quest, leave comments, suggestions, and questions.