đź’¸ The Top 5 Mistakes New Artists Make With Their Money
Let’s be honest—music can be expensive.
But most artists aren’t broke because they don’t make money. They’re broke because they don’t know how to manage it.
You can be talented, get paid gigs, sell merch, and stream decently—and still stay stuck if you keep repeating these five mistakes.
Here’s what’s draining your wallet—and how to fix it.
đźš« 1. Spending Big on the Wrong Things
The Problem:
New artists often drop thousands on music videos, studio sessions, or promo campaigns before they’ve built a fanbase.
A $3,000 music video means nothing if no one watches it. Flashy doesn’t equal effective.
The Fix:
Start lean. Invest in content that connects, not just content that looks good. Focus on growing your audience first—then go big.
📉 2. Paying for Fake Exposure
The Problem:
Buying fake streams, followers, or playlist placements might look good, but it kills your long-term credibility.
Labels and fans can spot fake numbers. And they don’t convert into real money anyway.
The Fix:
Build slow and solid. Run real ads, collaborate with other artists, and create engaging content. Authentic growth > vanity metrics.
đź“ť 3. Not Registering Your Music
The Problem:
Your song drops. It does well. But you never signed up with ASCAP, BMI, or SoundExchange. That means no royalties.
You’re literally giving your money away.
The Fix:
Every artist should:
-
Join a PRO (ASCAP, BMI, SESAC)
-
Register songs with SoundExchange + Songtrust
-
Use a distributor that collects YouTube and publishing money
It’s not sexy, but it’s money in the bank.
đź’° 4. No Budget or Financial Plan
The Problem:
You make $500 from a gig. You spend $500 on a new mic. Then wonder why you’re still broke.
No tracking. No planning. No separation between business and personal money.
The Fix:
Make a monthly music budget:
-
Set aside funds for gear, marketing, and savings
-
Track every dollar spent
-
Open a separate business account if possible
Even if it’s small—manage it like it’s big.
🧢 5. Ignoring Merch and Passive Income
The Problem:
You’re leaving money on the table by only performing and streaming. What happens if you get sick or go offline?
No merch = missed money
No digital products = no passive income
The Fix:
Start simple:
-
Print 25 shirts
-
Sell beat packs, sample kits, or vocal presets
-
Offer paid downloads, bonus content, or lessons
Multiple income streams = long-term survival.
🔑 Final Thoughts
The goal isn’t just to make money—it’s to keep it and use it wisely.
Don’t let poor money habits kill your career before it starts.
Be smart. Think long term. Learn the business behind your music.
That’s how you go from broke artist to full-time creative.
