This week in Creative Money (17 July, 2020)
I'll keep it brief. This week, not for the first time, I have been mainly losing my mind in my ongoing attempt to figure out how to manage money on a variable income.
A lot of the pieces in the financial sections of the papers and magazine are so often designed to address the needs of the salaried employee, yet this is not necessarily the typical profile of a worker in the creative industries.
The result of my labours has gone live on the site today. The new guide 'How to manage your money on a variable income' looks at how, with a bit of work digging through some of your figures, you can smooth out some of the ups and downs associated with a freelance income.
I've also built a 'What's my cash flow?' spreadsheet to help you understand your cash flow for a typical month and, if you keep it up to date, how to spread your income more evenly throughout the year. The guide and the sheet are designed to work in tandem.
I'm really keen to hear how this works for people, so if you spot any issues, have any feedback or just want to say hi, get in touch on creativemoneycontact@gmail.com. As ever, I'd love to hear from you...
All the best,
Matt
On the site this week:
How to manage your money on a variable income
What's my cash flow? spreadsheet
What do you need to know this week?
Newsletter shout out
A big thank you to freelance journalist Lydia Wilkins for giving us a mention in her excellent newsletter, which covers resources for freelancers and autistic individuals. Much appreciated!
If you're a freelance writer or journalist, I highly recommend you read and subscribe to Lydia's newsletter.
Concerns arts fund won't go to artists
Check out this interesting piece from The Guardian about the need to direct bailout money to artists over venues with furloughed staff.
Manchester loses two of its best music venues
This week the owners of Manchester venues Gorilla and The Deaf Institute announced that, sadly, they would have to close both locations this week. In my day job as a music journalist I've spent many hours haunting both. They were among the best the city had to offer. Let's hope they get reborn in some way down the line. I suspect they won't be the last to close their doors in the coming months.
New book from Anna Codrea-Rado
Freelance writer and campaigner Anna Codrea-Rado has announced she's a penning a new guide to working for yourself. Her newsletter, The Professional Freelancer is one of the best around, so this is sure to be useful. You're the Business: How to Build a Successful Career When You Strike Out Alone, is "a guidebook for all the freelancers, side hustlers and creative entrepreneurs trying to make it work out there" and will be out in March 2021, via Ebury. Find out more and pre-order a copy ( a massive help to new authors).
Grants and funding opportunities
European Commission to support performing arts with €2,5 million for distribution
OpenCall for tender to support cross-border circulation & digital distribution of performing arts. Apply by 31 July, 2020.
ArtReach wants design and development for its European arts programme – LIBERTY EU.
ArtReach seek tenders from providers who can deliver design, development & build services to produce a website for its ambitious LIBERTY EU partnership. Deadline: 31 July, 2020.
Youth Music Incubator Fund
Youth Music announced its new Incubator Fund, which aims to support open up sustainable music career paths for 18-25 year-olds by offering grants of £5,000-30,000 for businesses, collectives and not-for-profits working in the music industries.
MOBO Help Musicians Fund
Successful applications get £3,000 plus business and health support. You must be in financial need, lack backing from labels/publishing or management and have worked in music for 12 months plus. The application deadline is 27 July.
Common Ground commissions
Season For Change, backed by Artsadmin and Julie's Bicycle, has an opportunity for four £10,000 commissions for work on "creative climate leadership, justice and equitable participation within the climate movement." It invites applicants who identify as Black, Asian and minority ethnic/POC, refugee, D/deaf, disabled, neurodivergent, working class and/or LGBTQI+, however "will not expect or require them to explore their identity in relation to these groups through the commission." Deadline is Thursday 30th July, 2020.
This week's to-do list:
Start saving evidence for the second round of SEISS. If you think you'll be eligible, you'll need to prove you business has been adversely affected since 14 July.
Think about your taxes. The VAT and self-assessment payment deadline (for those making two payments a year) is the end of July (though SA payments can be deferred until January 2021, if required)