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SAVINGS? SERIOUSLY? Why Freelancers Need a Nest Egg, and How We Can Get There.

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FINANCES FOR FREELANCERS: A Monthly Feature Sponsored by Community Loan Fund

Setting money aside for savings is not always an easy task, especially if you are planning on saving for a house or other big investments. It could be worth checking out something like debt consolidation loan chase if you find that you are struggling with your personal finances. You may even find a solution.

Try finding ways around your usual spendings for example, try using youtube to mp3 shark to download music. For freelancers and creatives, it can be even more difficult, because many of us have irregular cash flow, as our clients, assignments and payments often change from month to month. A survey by TD Ameritrade reveals that 40% of Freelancers don’t regularly save, and only do so when they can afford to. I can say I personally used to fit that statistic! If you’re looking to save up and track expenditure as well as tracking your mileage travelling for work, personal and other reasons to perhaps save on fuel costs, you could take a look at using this expense tracker app and see how much you can start saving once you can clearly see your outgoings.

Savings Helps your Cashflow

The start of healthy financial practices often begins with savings and cashflow management. Cashflow is the total amount of money being transferred into and out of your business each month. For freelancers, cashflow can go up and down pretty frequently, but having savings can help to level things out. For example, let’s say in month A you get a lot of work, and invoices are all paid, Congratulations! The money coming in is greater than the expenses going out, creating positive cashflow. In month B, your invoices might not get paid in a timely way, or one of your clients might not have sent any assignments, so in month B, you might have a neutral or negative cashflow. If you saved a portion of your income from month A, when month B comes around, you will be in a better position to pay your expenses in month B.

Savings Looks Good For Loans

When applying for a business loan or mortgage, having savings will be regarded positively, because it reduces the risk to the lender. However, having poor credit might hinder your chances of receiving a loan. If you’re unsure why you’ve been unable to successfully apply for a business loan, it might be worth contacting an organization, like deAsra, that helps small businesses set up their companies. To see an example of where this company was able to help another business successfully retreieve a loan after being denied initially, you can click here. Alternatively, you could try and enhance your chances of a loan by improving your credit and savings. Your savings are considered a financial asset. Why is this important? Read on.

Savings Improves Your Net Worth

Having a savings improves your personal balance sheet. A personal balance sheet provides an overall snapshot of your wealth at a specific period in time. It is a summary of your assets (what you own), your liabilities (what you owe) and your net worth (assets minus liabilities).

Savings adds to your net worth, because it is an asset.

Tracking your balance sheet regularly is essential to knowing where you are with your finances, and what you can do to improve them and reach your financial goals.

Tracking your personal balance sheet is not difficult to do. There are many apps and software programs that are specialized to meet the needs of freelancers, while often offering benefits like creating invoices, tracking mileage, and more. QuickBooks Self-Employed and FreshBooks are two such programs, but there are dozens that can serve your needs. Search for a program that suits your particular business, or ask freelance friends or our ACE Discussion Group for their recommendations.

Setting a Target Savings Goal

Some experts say that setting a target of at least 20 percent of your income going directly to savings, or $20 of every $100 you make. Set up an arrangement at your bank to auto transfer a certain amount to your savings account with every deposit, and you’ll be saving without even realizing it! Accountability also helps. Joining a financial support group, or having a money accountability buddy can help you stay focused on your end goal when cashflow is lower and you are tempted to skip that savings deposit. Lean on friends on that tough day where you just don’t think you can save. Even a small deposit in your savings account each month will set you in the right direction and start a healthy habit for the future.

Our Finances for Freelancers series is sponsored by Community Loan Fund. You can contact Paul Stewart and meet him at our monthly Creative Economy Mixer events.

Article By Ashleigh Kinsey, owner of AK Design and ACE Digital Manager

Culinary Arts Program Prepares Youth For Success

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The Culinary Arts program at Questar III follows the ProStart curriculum developed by the National Restaurant Association Educational Foundation, which gives students the opportunity to learn about the art of cooking and managing restaurants by training with professional chefs and getting classroom instruction, while also earning college credit and making money while they’re in high school.

TV culture of celebrity chefs and cooking-related programming has awakened a surge of interest in culinary arts, but one of the more recent popular concepts around food has been sustainability and farm-to-table restaurants. Questar has a Farm-to-Table unit in the Culinary arts program that teams up with Sylvia Center at Katchkie Farm, where students visit the farm, learn about food deserts, and source local produce to create dishes on-site. This experience further solidifies a hands- on learning experience while teaching strong lessons in sourcing and sustainability that will shape how these student think about the food industry and quality ingredients.

Culinary Instructor Peter Desmond says, “Some of our students would not normally get the opportunity to do this without the program. K farm has been very generous in collaborating with us on this program and it really helps students to learn about healthy foods, how they are grown, and more.”

Although most Questar III students continue their studies at organizations like SCCC (please give full names here) or CIA, some students have received scholarships to Johnson & Whales University, or end up going directly into the workforce to use their skills in job throughout the region.

The Rodney Shop Brings an Artist’s Whimsical Creations to Catskill

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Artist Rodney Alan Greenblat, world famous for his whimsical, vibrant, and fun artwork, is the owner/operator of the Rodney Shop boutique, one of the many artist-run boutiques on Main Street in Catskill, NY. His interest in art began as a young child and he was propelled into the arts world with his first “gig” doing an illustration for his school PTA handbook at the age of 11.

As a sculptor and painter, his work became an integral part of the East Village Art scene of the 1980s, where he had several one person shows at the legendary Gracie Mansion Gallery. In 1985 his large sculpture “Ark of Triumph” was featured in the prestigious Whitney Museum Biennial exhibition.

In the 1990’s Rodney took on another title, and published four children’s books published by Harper Collins. Uncle Wizzmo’s New Used Car, Aunt Ippy’s Museum of Junk, Thunder Bunny, and Slombo The Gross.

When newer technologies started to revolutionize the video game industry,  he became the artistic force behind the best selling game for Sony Playstation called “Parappa The Rapper.” This led to a whole line of products distributed in Japan, and a weekly animated television series. Rodney is known as one of the world’s top character designers.

Rodney is a great example for artists everywhere, especially younger artists. He is a living breathing example of how a passion for the arts can lead to many options beyond the stereotypical “starving artist” if that talent and passion is nurtured and supported.

His artwork is shown regularly at the prestigious BCB ART gallery in Hudson NY. His wares can be purchased online, or in the Rodney Shop store at 362 Main Street in Catskill NY.

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Article by Ashleigh Kinsey

Creative Beginnings- Meg Affonso

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ACE’s Ashleigh Kinsey spoke with Meg Affonso, a creative who is a creative in every sense of the word – singer,dancer, actor, model, yogi, and now producer! Meg shares her journey as a creative and what led her to collaborating with other creatives to present the production of Ntozake Shange’s for colored girls who have considered suicide when the rainbow is enuf and The Women of Color in the Arts Expo in Albany NY.

Where are you from, and where do you live now?
I was born and raised in Martinsburg, WV. I have lived in the Capital Region of NY for 12 years.

Did you seek out higher education, or are you self taught? Where did you study?
I studied Musical Theatre at Shepherd University for a few years before moving to Upstate NY. I then went on to study Meisner Technique with the Deena Levy Theatre Studio in NYC. Most of my training comes from being on set and around the stage.

Would you say you have always been a creative person? What other work have you done?
Creativity is in my bones. I began singing in my church at age 4 and formal dance lessons started at age 5. This was where my creativity really started to come out of its shell! I loved my dance lessons, so I cannot recommend them enough. If you have a creative child who is interested in that sort of thing, you could take a look at DivaDance to see if you could get them some lessons. I’m sure they’d love it and its so good for creativity and confidence building as well! Then, once my dancing and singing skills were practised, I became involved in the local theatre scene at 14. I’ve performed in plays, films, web series, commercials and occasionally do freelance modeling.

How did you become interested in your industry?
I’ve always been an entertainer and once I discovered how to tell a story through performance, I was hooked for life. There was a period of time that I stopped performing and doing creative work; I was discouraged because my life wasn’t working out the way that I had hoped it would. I had a child very young and I needed to find a means to an end to be financially stable, so I left the creative stuff behind and tried to move forward. Fortunately, my creative work wouldn’t let me go and I was forced to face it, to begin again. Beginning again didn’t come without some uncertainty and embarrassment. I’ve had my share of terrible auditions and worked through the awkwardness of learning how to communicate what I need. A true artist is not one who loves the work, but one who cannot live without it.

Did you have a defining moment that pushed you to start working on your production?
This play has been nagging at my mind for 9 years. From the moment I read Ntozake Shange’s choreopoem, it struck a chord in me that had never been struck before. Having gotten back into professional acting in the past 3 years has put me in a lot of situations where I recognize that I am sometimes the only person of color in the room for an audition or on set. I wanted to celebrate the beauty of black women artists in all their forms and this was the way to do it. I’ve also entered a point in my life where it’s time to tell my own stories, so I have been writing a few short films and I am beginning the process of directing a documentary. This whole process occurred all because my heart and my mind won’t let me rest. I want give life to stories that will help heal myself and others in the process, specifically women. I want to start a conversation and give people space to share their stories, as well.

What does running a production like this entail?
This is my first time producing and it’s probably the most difficult thing that I have ever done, but it is also incredibly rewarding. As the producer, I have had to find funding, secure the location, secure rehearsal space, hire creative talent + crew, be responsible for everything that goes along with promoting the production and more. As the director & choreographer, I am responsible for bringing the story to life through blocking, dance and working with my actors. There’s a lot that falls on my shoulders because I am doing so many things at once, but I am incredibly blessed to have a great crew, cast, mentors and a supportive network of people who want this to be successful.

What would you tell others who are aspiring to be doing what you are doing? What would you have done differently? Any advice?
The most important thing for others who are aspiring to do what I do, is to have people around you that can advise you though the process. I am doing well because I have a wonderful support system of other creative professionals who know more than me, which is quite possibly the most important asset that anyone can have. Don’t be afraid to ask for advice or help. Don’t be afraid to ask more than one person for advice or help. Don’t be afraid to admit when you don’t have all of the answers, because you never will. The second most important thing is to start where you are and be okay with that. It’s so important for artists to be able to do their own work and tell their own stories. Advocate for yourself. I don’t know that I would have done anything differently, except begin sooner. I have no regrets, only lessons. A piece of advice for artists making their own work is to begin the grant process early, if you’re going that route. It’s very time consuming and a lengthly process. Also be prepared to hear ‘no’ frequently, but keep going. Be honest with yourself about where you need to improve and be flexible about working with what you have until you can work with what you want.

What would you like the community to know about the local arts scene and creative economy?
The local arts scene and creative economy is rich and diverse. I myself am excited to become more immersed in it. We have a huge theatre scene, visual arts, dance, music & several films are made in Upstate NY each year. Go out and experience all of the different art forms, support one another, spread the word and if you don’t know here to begin – ask around.

If there was one thing you would change about our creative economy, what would it be?
This goes without saying, but there has to be more diversity. Employers, theatre companies, filmmakers, producers, galleries, creative businesses must be aware of having workspaces that are conducive to a positive environment for women and people of color. I’m not talking about filling your quota of diversity, having your one woman at the top, or your token person of color, but I am saying make space for everyone and be consciously aware of the environment that you create. Advocate to see more art by women and by people of color, ask for it, show up for it and PAY for it. Hire that female director. Fund that female producer. Demand equality and set the standard for it to be commonplace.

Lotus & Bamboo Productions + Albany Barn are proud to present the production of Ntozake Shange’s for colored girls who have considered suicide when the rainbow is enuf & The Women of Color in the Arts Expo! On September 27th we will be debuting the SHOW ONLY at 6 p.m. On September 28th & 29th doors will open at 5:30 p.m. and the show will begin at 6 p.m. The Expo will immediately follow the production on September 28th & 29th. You will be able to mingle, enjoy art in all forms and shop a variety of artistic items + pieces.

The Expo on Friday, September 28th will feature live music by Audrey Zaccarya & Sibie LaVoz, spoken word by D. Colin, an art exhibit + sale with work from Takeyce Walter, Danielle Colin, Anusha Sekhar + Paula Frazzle, vendors, light passed hors d’eouvres by 677 Prime, plus Beer + Wine cash bar by Umana Restaurant & Wine Bar.

The Expo on Saturday, September 29th will feature DJ Poetik Selektions, moving art by Victoria Rutledge with live drumming, vendors, women of color in food showcase & sampling, plus a Beer + Wine cash bar by Umana Restaurant & Wine Bar.

Sponsored by Albany Barn, Mantralogy, Ungerman Electric, Fifi’s Frocks & Frills, 677 Prime, Umana Restaurant, The Good Karma Studio, Heart Space Albany, Jai Albany, Yoga Mandali, CHEEK by Re’z Cosmetics, Yoga Garden, Mel eMedia, and Birth New York.

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