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By Susie Poppick
February 25, 2016

Stefanie O’Connell says that artists, who often live paycheck-to-paycheck and have fluctuating incomes, need to embrace the numbers and get real about their finances.

Artists should figure out the minimum amount of money they need to live each month, then commit to making that money each month. That will give them the freedom to do what they love. That minimum amount should cover basic living expenses like rent, groceries, and utilities, along with savings, long-term retirement goals, and debt repayment. Once they make that minimum each month, they can decide whether they should focus on earning additional money to cover discretionary expenses, or on devoting their free time to their art.

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

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