Behind The A&R’s Desk: Why Artist’s Go Broke

at 4:04 pm | By

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Learning the difference between “needs” and “wants” is a question that is asked often in the entertainment and recording business.
To no surprise for us, this is a question that never enters the mind for a recording artist. When coming into a life where money would fix all problems you would think they would guard and protect their riches better. That’s not the case as you see, many times, that an artist tops off the music charts and then, suddenly, an artist forecloses on a house, their vehicle repossessed, and a host of other unfortunate circumstances.

The thought process and mentality that you would pay $250,ooo for a Rolls-Royce before paying off your house is plain stupidity. Additionally, the fact that one would have a $ 60,000 bust down AP and your child’s college tuition is unpaid scares me. But, hey, even Kanye West had his lesson learned from foolish spending habits at one point in his life:

But I ain’t even going’ to act holier than thou
Cause f*ck it, I went to Jacob with 25 thou
Before I had a house and I’d do it again
Cause I wanna be on 106 and Park pushing a Benz
I wanna act ballerific like it’s all terrific
I got a couple past due bills, I won’t get specific
I got a problem with spending before I get it
We all self conscious I’m just the first to admit it.

It has now to come to a point where business managers (or someone) steps in and lets you know that excessive spending has got to end as some point in one’s career. Nobody wants to see the next person lose their precious items but let’s get smart about it: remember, most of the money you earn hasn’t been taxed so saving it and putting money aside for tax time is crucial. The worst feeling for anybody is having it all and then losing it all which, in turns, can make anybody go crazy.

If your fan and would like to see these artist remain finically stable SHARE and speed the word.

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