Sort out your finances in 5 stupidly simple steps
The week in Creative Money - 11 December, 2020
Financial guidance for creative professionals
Creative Money aims to have an open conversation about finances in the creative industries.
It was founded in July, 2020 in an attempt to address a frustrating lack of sound financial guidance for creative workers and is written by me, Matt Parker, a music journalist and lecturer.
Since October, I've been hosting a series of courses – dubbed Run Your Money – that are aimed at helping creative students to get a better handle on their finances, and hopefully get themselves in shape for life beyond education.
I've taught these across five locations now across the UK, from Brighton to Manchester (all via Zoom) and talking to the students and putting the materials for the course together has really helped me to boil-down a lot of my thinking.
I've started to explain it all in terms of five 'stupidly simple' steps we can all take that will leave us in a better position with our money, and hopefully, a little more security in our creative work or other goals in life.
While presenting things with eye-catching blog-y titles definitely raises my 'spam hackles', it is really useful to give people some overall sense of a map, a process, for sorting out our finances. It help us to understand where we are right now and to find a way forward.
This week, I've put together a post explaining these steps for sorting out your personal finances (as I see them) and also linking to anything relevant or useful to each stage that has appeared on the site (or off it, in some situations). The point is to take it one step at a time and go from there.
It's also been a nice excuse to look back over some of the stuff that's been on the site since it's launch back in July. Once again, I'd like to say a big thanks if you've read the posts, shared things on social media or signed-up to this newsletter. I've certainly found it a really worthwhile experience. I hope it has been useful.
This will be the last newsletter (and probably post) of 2020, because after the last year, I have precisely zero intention of working over Christmas. I hope you get a break of some kind this December and that 2021 looks a lot more positive for all of us in the creative industries.
Until next time!
Matt
CreativeMoney.co.uk
New from Creative Money:
Sort your finances in 5 stupidly simple steps
Confused by the numbers? Let's make a map that's easy to follow
What do you need to know this week?
Why you should file your self-assessment tax return early this year (Which?)
Seven mentoring initiatives for womxn entering the creative industry (Lecture In Progress)
Nile Rogers lent his voice to the DCMS Committee hearing on the economics of music streaming (ParilamentLive)
Freelancers are sharing their earnings breakdown for the year using the hashtag #FreelancePie (Twitter)
Grants and funding opportunities
Self-Employed Income Support Scheme third grant
The UK SEISS reopens on Monday 29 November, 2020 but there's a change in the criteria now stipulates that you must have suffered a "significant reduction in trading profits" due to coronavirus during the period 1 November to 29 January 2021. You must also keep supporting evidence. Deadline: 29 January, 2021
Arts Council Thriving Communities Fund
Funding for schemes designed to increase social connectedness, and help communities cope with the impact of COVID-19. Applicants will need 20% match funding, with grants of £25,000-£50,000. Deadline: 8 January, 2021
Digital Democracies – Immersive Audio Artworks fund
Digital Democracies are seeking proposals for new immersive or location-based audio work for public and outdoor spaces in Brighton. Applications are invited for ideas that respond to the theme of Connections and there is a budget of £6,000. Deadline: 8 January, 2021
Fair Earth Creative Entrepreneurs Fund
The entrepreneurs fund is a £10,000 grant awarded to one inspiring entrepreneur, along with a mentor, to help set up their own business. Deadline: 14 February, 2021
Dance Professionals fund
Grants of up to £2,000 for dancers, dance teachers and choreographers affected by Covid. Applicants must be able to show that they were recently in paid employment in the dance profession up to the start of COVID-19 restrictions. Deadline: March, 2021
ArtCry grants
ArtCry is setup to provide a rapid turnaround of funding for art works responding to current events. Grants of up to £5,000 with a panel of artists, activists, creators and producers making decisions on applications within a week. Deadline: ongoing
Business Wales Cultural Recovery Fund grant
Phase three of the Welsh Cultural Recovery Fund is now open to freelancers and businesses based in Wales who are providing goods or services to the cultural sector. No set deadline, but it's dependent on rate of applications, so if you're eligible, don't hang around. Deadline: ongoing
Help Musicians Hardship Fund
The third phase of one of the major support funds for musicians is now open and will support successful applicants with a monthly top-up until March 2021. Deadline: ongoing
Actor's Children Trust hardship grants
ACT continues to pay Corona-crisis grants of £300 per family per month towards food and bills, as well as specific grants for children’s costs. Please use the contact form so we can check your eligibility as an actor under ACT’s criteria. Deadline: ongoing
Royal Variety Charity Financial Assistance grants
The Royal Variety Charity is uniquely positioned to provide financial assistance to anyone who serves any facet of the Entertainment Industry. Deadline: ongoing
The White Pube Writers Grant funded by Creative Debuts
£500 given out monthly to a working class writer based in the UK. This grant has been set up to support writers of all ages who are early in their careers and would benefit from this no-strings attached financial support to help them in whatever they like. Deadline: ongoing