It’s so obvious to say that starting a band is one of the most expensive hobbies of all, which is why it’s so important to keep those expenses down. How can you manage your finances when you are trying to get your band off the ground?
Think Hard About Your Instrument Choice
You may be looking to create a really complex sound but like the punk movement, times become more limited by their instruments. Of course, it can be a very beneficial thing to constrict yourself because it forces you to be more creative, but getting that right tone is crucial. And while you may not have the time or the patience to go to a luthier school and learn how to build instruments yourself, this might be worth thinking about in the long term. Because you can build an instrument that is not just a great way to suit your fingering style, but it might also be a very useful side hustle. Many musicians fix up instruments and tutor, but the quality instruments are always better than the quantity, even when you are trying to be Sonic Youth!
Track All of Your Expenses
During the first couple of tours, it is a major struggle to break even because you need to print merchandise, pay for recordings, and, of course, the small matter of getting to the shows. And while you may not break even at the start, you will eventually. Just make sure that you keep a spreadsheet of every outgoing and incoming because it will save you a lot of stress.
Set Up a Band Bank Account
Being in a band costs money, so set up a bank band account and put a tiny amount in every single month while also keeping records of all of your sales. You should also remember that as nice as it is to have loads of beers after the show, there is going to be a time when you need to invest in more recording. So making sure that you stick to a couple of beers after the show still means you are giving yourself a good pat on the back without obliterating your budget.
Ask Friends to Be Roadies
Including your friends is not just a way to save money but this makes your touring party feel like an actual party. Because when all your friends are together it’s going to keep you all propped up emotionally. It can be a really difficult time touring and getting from venue to venue without much of a budget. So morale in this respect can make a massive difference!
Designate a Responsible Band Member
Money can be incredibly tricky when there are lots of incomings and outgoings. It’s important to be sensible and embrace the act of saving money, which means that putting one band member in charge (that you all implicitly trust) will make a massive difference, or you opt for having a manager. Because we’ve all had visions where there’s plenty of alcohol (and the rest) flowing but the reality is that it doesn’t work like that in the modern-day! Being in a band costs money, so we’ve got to be sensible.