Showing posts with label finance. Show all posts
Showing posts with label finance. Show all posts

Tuesday, 2 June 2015

Patronage, or "How the Author Gets to Eat"

Antonio Verrio had the patronage of William III.
Until very recently in human history the Artists (aka painters and playwrights and composers, etc) were supported by Patrons (aka the King, the Lord, the Rich Men, the Bishops of the Church, etc). In exchange for the basic necessities of  life, artists painted or wrote or composed whatever their patron wished.

Down side: they didn't get much choice in what they had to produce. He who has the gold makes the rules.

Up side: at least they were doing their art, and there was time to work on their own projects, if permitted.

The 20th Century changed much of how humanity functions socially. Patronage, in the old sense, has all but disappeared. However, nothing will ever change the fact that an artist needs to eat.

Where does the means for food & shelter come from? The modern-day equivalent of the patron.

Artists need patrons to support them. In the beginning of the career art isn't financially self-sufficient, so the money to feed and house the artist/writer has to come from somewhere, whether that be a Day Job, a supportive spouse, investment funds or even grants. These are our modern-day patrons.

Until the art/writing can bring in enough money, patronage is how an artist eats.

Patronage isn't free money (unless you're a trust fund baby). You've got to give something back to the patron in exchange for their support. In the old days (oh, 200-plus years ago) patrons supported artists, writers, composers, etc in exchange for them painting/writing/composing what the patron wanted them to. There are many a great composer who wrote brilliant music, but not necessarily the music they wanted to write. They were at the whim of their patron. They patron wants a series of chamber music sonatas? The patron gets a series of chamber music sonatas, even if the composer has dreams of composing a symphony.

Now, many an artist has what they call the Day Job. This is a job that is most likely not related to their field of art. The novelist is an accountant by day. The artist works as a secretary. The actor turns to waitressing. 

Others may have something more akin to the traditional patronage pattern in the form of a Supportive Spouse. Your engineering husband doesn't mind you staying home with the kids and your novels. Your actuary wife is okay with you working on your music all day, as long as the house is clean when she gets home.  Some people might dream of a Sugar Daddy, thinking that all he would do is throw money at you to do whatever you want. Unless you're the spoiled, pampered princess descendant of a rich, indulgent father, ain't no way you getting any money from anyone without them expecting anything in return. (What does the Sugar Daddy want from you?)

Then there's the grant model.  Modern Patrons of the Arts do provide scholarships and grants to allow an artist to pursue the project they want. However, grants often require projects to fit certain criteria. If your pitched project doesn't fit what the grantor is looking to support, you might not get funding.

Crowdfunding fits in under the grant model of funding. You pitch your idea and whoever's fancy it tickles will toss money your way.  Does your idea have enough merit to attract funding?

Currently, I am using a combination of a part-time Day Job and Supportive Spouse to enable me to have enough writing time. As the children get older, the necessity of my staying home during those crossroad  moments isn't as necessary. As soon as the kids old enough to not need their mommy, I will no longer have a reason not to seek out full-time employment.

However, I don't want to go back to a day job. I want to proceed to that fourth, most glorious, free-est category of artist there is: Self-Funded Artist.

This is the mode we all dream about. Imagine, not having to be dependent on a modern-day patron for your day-to-day needs! Wake up in the morning without the stress or grief of having to put aside your artistic desires so you can go fix someone else's computer, answer someone else's phones, give someone else fries with that.

There are two modes of Self-Funded Artist: Financially Independent and Income Generating.  

A Financially Independent artist has a source of passive income, usually from investments, patents, trust fund, etc that provides a steady flow of spendable, regardless of what they do. If they wished to sit around all day and write the word "Wibble" ten thousand times, they could.

An Income Generating artist is one whose artistic work has enough value to bring in enough income to live on. Full-time authors with a decent backlist. Steadily-employed actors. Essentially, this is the Day Job in your chosen field of art. Lucky is the artist who can unlock this achievement.

My ultimate goal is to become a Financially Independent artist whose capital arose mostly from earnings from my Income Generating art. Not only will this free me from the Day Job but will also free Supportive Spouse from his so he can pursue his own projects.

After all, he has dreams too.

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Help Her Grace achieve her dreams; buy her books, review them honestly and tell your friends to buy her books as well. If you don't buy her books, buy someone else's or give patronage to an artist.

Friday, 19 December 2014

Wherein I declare my Mustachianism

Three more days until For Richer, For Poorer comes out. Go buy my books!


I'm a big fan of Mr Money Mustache. If your wallet pinches uncomfortably, if you find yourself weighed down by consumerism, if you loathe working a Day Job, you really need to check out his hardcore badass financial advice.

He recently had a case study about Joe Average wanting a better life. A few people commented about how MMM's philosophy doesn't benefit the poor; they are not his target audience.

I disagree. Anyone who wishes to improve their financial situation would benefit from reading MMM, even if they can't apply everything he recommends at the present time.

A simple raising of one's financial awareness is what he advocates.

Normally I don't comment on his awesome posts, but I had to say this:
I’m a faithful reader who didn’t know a lot of what MMM preaches before I started reading his blog. My cousin pointed him out, and I went hard-core, and now I’m happily Mustachian.

It all comes down to awareness and education.

When I was a child, my father got injured and was out of work for a while. We lived in poverty. Boy, did it sting!

In university, I spent a few years as an impoverished student because I was not financially savvy AT ALL. (Woe, my ignorance.)

Post-uni, I got a job with a decent wage, but was frivilous in my spending.

Twenty years later, I am now educated, thanks to MMM, and I’m much better off. I’m looking at early-ish retirement BECAUSE I GOT EDUCATED.

Sure, I practiced a brand of frugality in my poverty years, but that was due to necessity and lack of choice. The moment I wasn’t so poor, I went back to foolish ways.

I believe that MMM can benefit those in poverty by educating them on ways of good, better, best.
Last year I read an articles (not related to finances, but to making choices) called “Good, Better, Best”. (Go google it, if you like. It has a religious slant on it, but the advice is sound for all walks of life.)

We all make choices. Lots of people make poor choices, which is why they struggle to make ends meet on a US$100K+ salary. Some choices we make are good. What we need is the wisdom to stand back from our choices and determine if our choices are good, better, or the best we could make.
That’s what MMM’s advocating here. I’m always pointing the impoverished to his blog.

Sometimes we can’t help finding ourselves poor (like when my dad got injured and couldn’t work). But if we have the best mindset, we do not have to remain in poverty for long.

It is the difference between me blowing $40K one year with nothing to show, and me now able to live plus invest with $30K.

So, yeah. I share this with you now, because greater awareness gives you a greater chance at happiness.  New Year is coming up. Don't you have some resolutions to make?

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Her Grace's resolutions are simply to keep doing what she's been doing, as her view is long-term.

Wednesday, 7 May 2014

Randomosity for Birthday Month

Randomosity of cool stuff I found about the web.


Her advice is worth listening to. One morning she woke up to herself, realised she had put herself in a bad place financially, and chose to do something about it.  Good on you, Anna! I'm impressed.

  • Despite its dated corniness, I've always enjoyed Disney's Bedknobs and Broomsticks. I'd love to get my hands on the remastered version, that had a lot of cut footage restored/remastered/redone. Alas, there are a few scenes where footage could not be located (possibly destroyed?).   I would have loved to see the whole three hours of this flick.  Factlet: George Lucas worked on the screenplay for this one.

  • "I am a Child of God" - this hymn has a positive self-image message for humans.  My many-great Aunt Mildred Tanner Pettit wrote the original music for this.


  • Recipe for Angel Food Cake - from Scratch.  If you live in the US, no doubt you have ready access to packet Angel Food Cake mix.  Not so in Australia. Therefore, if I am to enjoy my traditional birthday cake, I must make it from scratch.
Angel Food Cake

Preheat oven to 375ºF (200ºC).

Sift together:
1 1/2 cup powdered sugar
1/cup cornstarch flour
Set aside.

Beat until stiff peaks form:
1 1/2 cups egg whites (from 9-12 eggs)
1 1/2 tsp cream of tartar
1 1/2 tsp vanilla
1/4 tsp salt

Gently fold in flour mixture into beaten egg whites.  Pour into ungreased angel food cake pan (you can use a bundt pan if you must). An angel food cake pan looks like this:

Bake for 30-40 minutes, until top is golden brown and crusty.  There may be some cracks.

Invert pan to cool.  Loosen from pan when cools, and serve with fresh berries and whipped cream.  Sing "Happy Birthday" to me while you eat it.

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Her Grace has several particular things about her birthday. 1. She's always shared the day with other family members. 2. She's always had Angel Food Cake. 3. Presents are nice, but optional. Having fun with her is far more important than being given things. However, if you must give, consumables, like paper and fancy food items are preferred.