Getting ready to invest

The week in Creative Money - 10 June, 2021

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 relatable financial guidance for creative workers and is written by me, Matt Parker, a music journalist and lecturer.


Hello! Are you someone who charges right in on new things? Or do you go the other way, researching until you lose your mind and rarely pulling the trigger?

This week I’ve written about getting ready to invest. Whichever side of the spectrum you tend to land on when it comes to tackling the new, it’s good to have some sense of when you are ready.

This can help us to avoid situations where we risk money we might need to keep us in hot dinners, or on the other side, miss out on years of solid returns due to our hesitance around starting.

I’ve pulled back in the list and guiding principles from my horribly-titled-but-quite-useful How to sort out your finances in 5 stupidly simple steps piece and kept it minimal on the jargon this week. See what you think…

Read the new post: Investing for freelancers and creative workers – Getting ready to invest

Necessary disclaimer: I’m not a financial advisor which means this is for financial information and education purposes only. Investing carries risks, always do your own research and seek independent financial advice where required.

Next time, I’m going to take a look at more of the ‘where’ when it comes to investments, explaining some of the main categories of investments and associated pros and cons.

Until next time,

Matt

CreativeMoney.co.uk


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What do you need to know this week?

  1. Creative England is hosting a free all-day online event: Financing Creativity - How to manage your money on 23 and 30 June (Creative England)

  2. Are your credit/debit card contact details are up-to-date? If not, payments could be declined (Money Saving Expert)

  3. Here’s a simple guide to ethical investing (Times Money Mentor)

  4. Twitter thread on the horrifying economics of touring Europe post-Brexit (Twitter)

  5. Which? reveals the best DIY investment platforms (Which?)

And finally…


Grants and funding opportunities for UK creative workers

StageHand Covid-19 Crew Relief Fund

Round 6 is now open. For individuals who have worked in non-theatre live events and are the worst affected by the Covid 19 pandemic, those for whom support has not been available. Deadline: 11 June, 2021

Artistic Directors of the Future (ADF) Innovators

ADF Innovators gives up to 10 ADF members the support to develop a project idea that aligns with the ADF mission. Selected practitioners will develop their project proposal and entrepreneurial skills in a two-week online intensive programme. One will have their project selected and the chance to work at ADF as an Associate Leader for one year, with a salary of £15,000. Deadline: 13 June, 2021

PRS Foundation Women Make Music fund

Supports the development of outstanding women, trans and non binary songwriters and composers of all genres and backgrounds at different stages of their career. Deadline: 14 June, 2021

PRS Foundation Open Fund for Music Creators

The Open Fund for Music Creators supports the development of outstanding songwriters and composers of all genres and backgrounds at different stages of their career. Grants of up to £5,000. Deadline: 14 June, 2021

The Uncultured SHTF Independent Producer Bursaries 2.0

As part of their Producing for the End of the World project The Uncultured is offering £600 to two independent mid-career/established Live Art producers. To apply, you must be mid-career/established - meaning you no longer consider yourself ‘early-career’ or ‘early on in your practice’. Deadline: 21 June, 2021

Society of Authors Sunday Times Young Writer Of The Year Award

Prize of £5,000 is awarded for a full-length published or self-published (in book or ebook formats) work of fiction, non-fiction or poetry, by a British or Irish author aged 18-35 years. There are three awards of £500 each for runners-up. Deadline: 22 June, 2021

Sound and Music New Voices

New Voices is an artist development programme that supports composers at pivotal stages of their careers to explore new ideas, new sounds and new music. Participants will receive a £1,500 bursary and up to a £6,000 production budget to create a new work and share this with an audience. Deadline: 25 June, 2021

Elan Valley Creative Wales Fellowship Award 2021-22

Offers established creative practitioners, based in Wales, a chance to experiment and develop their practice, while giving them time away from usual commitments in a beautiful, inspiring setting. The Fellowship includes six months’ accommodation within a one-year period, and a £9,000 bursary. Deadline: 25 June, 2021

PRS Foundation Composers’ Fund

An opportunity for composers with a strong track record, giving direct access to funding at pivotal stages in their career. Grants of up to £10,000. Deadline: 28 June, 2021

Liverpool Philharmonic Rushworth Composition Prize

Opportunity for an early-career composer aged 18+, who writes original music, to develop their talent through a wide range of support and guidance from across the music profession. Includes £1,000 cash award. Deadline: 30 June, 2021

DRF Writers Award

An award of £10,000 will be presented to a first-time prose writer whose submission demonstrates literary talent and who would benefit from financial support to complete their work. Deadline: 1 July, 2021

NEW Youth Music NextGen Fund (Round 1)

Offers young creatives grants of up to £2,500 to make their ideas happen. Open to 18–25-year-olds (and under-30s who identify as Disabled). Successful applicants will use the money to launch a creative project, idea or business. Deadline: 7 July, 2021

W&A Working-Class Writers' Prize

Offers a cash prize of £200, plus mentorship from author Paul Mendez, Society Of Authors membership and numerous other perks including free books and guides. Deadline: 16 July, 2021

Netflix Screenwriter’s Fellowship

Looking for applications from writers of Black, Asian and other racial and ethnic backgrounds. Fellowship includes a bursary of £22,568 to write a spec script for an original idea over the course of a year, monthly development workshops, and a paid placement in a writers room of a Netflix or Sky series. Deadline: unconfirmed but you need to be available from September

Royal Television Society Bursaries

Awarded to students from less-affluent backgrounds who demonstrate potential and determination. They must be studying TV Production and Journalism or related subjects, or degrees such as Physics, Maths and Computer Science. Offers mentoring and £1,000 per academic year of study. Deadline: 1 September, 2021

Society of Authors Contingency Fund
Helps writers, illustrators, literary translators, scriptwriters, poets, journalists and others, whose author-related activities make up a substantial amount of their annual income. Grants range in value from £500 to £2,000. Deadline: ongoing

ArtCry grants
ArtCry is setup to provide a rapid turnaround of funding for art works responding to current events. Grants of up to £2,500 with a panel of artists, activists, creators and producers making decisions on applications within a week. 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

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


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Disclaimer: This is information – not financial advice or recommendation.

The content and materials featured or linked to on CreativeMoney.co.uk or our emails are for your information and education only and are not attended to address your particular personal requirements. The information does not constitute financial advice or recommendation and should not be considered as such.

Always do your own research and seek independent financial advice when required. Any arrangement made between you and any third party named or linked to from the site is at your sole risk and responsibility. Creative Money and its associated writers assume no liability for your actions.

Investing carries risks: The value of investments and any income derived from them can fall as well as rise and you may not get back the original amount you invested.

Disclosure: When content is published about a company or organisation with which Creative Money has a commercial relationship or interest (such as an advertiser or sponsor) that fact will be clearly disclosed in the article.