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How do you balance a career as an underpaid artist with the current cost of living ? #Spring25

I am pursuing a career as a dancer, and I am currently in college for it and living with my parents. However I am concerned that once I start working full time I won't be able to pay for a house, insurance, or just regular bills. Any advice on how it's done?

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Doc’s Answer

Audra live within your means. As tempting as it may be to splurge when you land that full-time job and start earning a steady income, resist the urge. Living within your means is key to financial stability. Differentiate between needs and wants, and prioritize saving and investing over short-term gratification. Remember, delayed gratification pays off in the long run and sets you up for financial success. Housing is one of the largest expenses in most budgets. The lower you can get your accommodation cost, the more money you can keep in your pocket (or the less money you need). Appropriate housing may be choosing to rent instead of buying a home. It can also mean not buying or renting too much house. Do you really need all those extra rooms. Larger homes also come with higher utility and insurance costs whether you are renting or are an owner. Keep learning, stay financially savvy by continuously educating yourself. Read books, follow financial blogs, listen to podcasts, and attend workshops or seminars. The more you know about personal finance and investing, the better equipped you’ll be to make informed decisions about your money.

I hope this was helpful Audra
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Michelle’s Answer

Hello, Audra !

The answer to your question is in the first sentence of your post.

I am happy to know that you are a Dance Major right now and do not have to worry about a rent or utilities right now. To worry about the future can drag you down, so right now you need to focus on current opportunities and not automatically think you'll be a pauper just because you're a dancer. You just don't know what awaits you after graduation, enjoy today.

Part of going into one of the performing arts fields is that we automatically know how it is. To obtain work, we get seen and someone says yes or no. It's just something that, if one cannot accept that structure, it may not be the best career for them. You have it very fortunate right now, a situation that can have you available for lots of opportunity. There's no reason why you can audition for dance performances over the summer, paid or unpaid. Focus on the present time, not 3 or 6 years from now. You'll be making a lot of decisions for your life between now and then.

In general, to manage, people that want to manage just don't make a commitment to anything that can't afford. Everyone does things in their own time. Your preferences may change in the next few years and you will manage your finances accordingly. There's no deadline on renting, owning or anything. I think you should wait too see how your career goes and then make the decisions as to what to do as it unfolds. Worrying about it now is not helpful. You'll be able to see things clearer once you're about to graduate and your career plans are a bit more situated.

So hang in there. Take hold of every opportunity that comes your way and enjoy the process of being a Dancer. I hope this helps and I wish you all the best !
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Keith’s Answer

I don’t know if my other answer was captured, but changing your major and deciding what you wanna do even though what you’re doing right now doesn’t bring you joy. You have to decide who you are, what you wanna be, and wear your natural strengths lie. It’s a very personal decision, but it’s not the end of the world if you.

Keith recommends the following next steps:

Find your passion
Determine your strengths
Be decisive
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Monie’s Answer

Audra,

Thanks for sharing! My suggestion is while living with your parents...save, save, save as much as you can. If you absolutely feel the need to move start buying housing essentials at discounted stores etc...while waiting. Also, do not try to get the more expensive apartment starting out. Get one that you can manage to pay for monthly with all the other needs figured in as well. Hope this helps!

P.S. if you have an IG follow @createdbymardia she is great a breaking down budgets.
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