The less money you spend, the less you’ll need to earn or raise. This will give more time to your practice.
How can artists save money?
Before you think about raising your income, work out if you can reduce your expenditure.
- Are you paying too much for your studio (if you have one)? Could you reduce your costs by sharing or subletting?
- Are you paying too much tax?
- Are you claiming any benefits to which you are entitled?
- Housing is often a major cost – find out about more affordable housing options.
- Work out if and how to save money on domestic bills with Uswitch and Money Saving Expert.
- Are you properly insured? Not having insurance can be a false economy and there are some special deals for artists.
- Can you avoid spending by bartering or exchanging your skills with peers instead?
Though thinking about how to save money doesn’t sound much fun, if you save hundreds a year it’s time well spent. Think about what benefits these savings will bring your practice.
Live-art duo Hunt & Darton explain how they carefully looked at their finances to become full time artists
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