The Secret of Financial “Secrets”

For my next trick, I will now summarize every single book on personal finance that has ever been written:

1.    Don’t spend more than you have.

2.    Put a little bit away every day.

3.    Don’t touch what’s in #2 for a long, long time.

Yes, the so-called secrets of creating wealth really are as simple as the three steps described above.   Kinda like how every diet really boils down to “eat less, move more”.  So why is this so hard for so many people? 

Part of it comes from lack of education.  Since there are no required courses around the subject (I’ll save my rant on that for another post), we are forced to learn the mechanics of money from whoever happens to be influencing us.  (Better hope that person knows what they’re talking about!)  We end up doing ourselves a disservice because we don’t see, or lose sight of the bigger picture.  Just like the vast majority of us are blissfully unaware (or in complete denial) of how many calories that donut contains, few of us fully understand the eroding power a little splurge here and there has on our future finances. 

Humans being the complex creatures that we are, we also have our psychosocial or emotional states to contend with, sometimes even going so far as to cause ourselves intentional harm.  Continuing with my diet metaphor, this is the situation where we know full well that eating that donut is not what we should be doing, but we either feel bad and think treating ourselves will make it better, or even worse, we are rewarding ourselves for having been “good” up until this point. 

Lastly, there is the situation of not having the proper tools to make the system work like it should.  Unforeseen situations that derail (or fail to ignite) a sufficient income stream to support one’s lifestyle wreck just as much havoc as a hormonal or metabolic imbalance on the most dedicated of healthy lifestyle enthusiasts.  As artists this last one hits home particularly hard because not only do we often incur the most expenses during periods of the least stable income, and our “cost of doing business” is so high to begin with.

So what should you do?

1.    Educate yourself

Knowledge is power here.  You owe it to yourself to have a basic understanding of the way money works, especially the way forces of time, taxes, compounding interest and risk allocation affect it.  Read up, ask questions and talk with a licensed financial professional.

2.    Be realistic

In order to live within your means, you first need to know what your “means” are.  This includes researching the income potential of your chosen vocation.  Then look at the life you either are already living, or want to have.  Do the two match?  The more honest you are with yourself now, the less frustration you will have down the road.

3.    Adapt

So what if after a thorough examination you find yourself at a stalemate for income potential verses basic needs?  Now it’s time to do some soul searching and figure out if you need to figure out a way to bring more in or give some things up.  One or the other will have to budge, because it will eventually catch up with you.

Just like someone who has a significant amount of weight to lose, getting financially healthy can seem like a daunting, insurmountable task.  Have the resolve to stay the course, however, and the rewards are sweeter than anything else you’ve ever tasted.    

7 Reasons Why Every Performing Artist MUST Do the Disney College Program (and a few more why everybody else should do it too…)

I spent spring semester of my junior year of college getting in touch with my furry-side (and that’s all I’m gonna say, ’cause I still have the fear of God that was put in me by the confidentially agreement I had to sign) as an Entertainment Cast Member at the Walt Disney World Resort in Orlando, FL.  As this was a full time internship, I spent the time before I left doing some hardcore lobbying across campus to have my alma mater grant me credit.  In the end, I lost that battle (but don’t worry, I was able to transfer them in from another institution).  Even if I hadn’t been able to nab the credits, I still wouldn’t have given up the chance for a little adventure.  Good thing I stuck to it, because I can honestly say that having this on my resume has gotten me every “normal” job I’ve had since, in addition to opening up countless performing opportunities.  Below are just some of the things which make this experience so worthwhile.

For Performers:

·    Exposure to every kind of niche performing art form you can imagine.

Seriously, if you can dream it up, it is happening somewhere on the property.

·    You will strengthen your weak spots tremendously.

Speaking from the perspective of a Singer/Actor who “moves well”, by the time I left I was in the best dancing shape of my life.

·    You can constantly challenge yourself.

There are always classes offered if you want to improve or learn something new, and they’re grouped by skill level, so no one gets bored or feels overwhelmed.  Best of all, as soon as you’ve qualified for a new level or added something new to your arsenal you can sign up for new assignments (see next bullet).

·    There is always something new you can sign-up for.

The number of ways to perform around the parks is mind-blowing, and includes tracks in parades, shows and special events.  You can sign-up for whatever you are interested in, as long as you meet the required qualifications (height, skill set, and level of proficiency).  And there’s a very good chance you’ll actually get called up.

·    Auditions for opportunities outside the parks.

The Cruise Line, non-US parks and the Broadway shows all hold auditions there on a regular basis.  (Insider’s Hint: A 6 month or year stint at Tokyo Disney is the way to REALLY make some money while working for the mouse.)

·    You’ll know whether this is something you really want to dedicate your life to.

I came back absolutely certain of two things:

1)    There is a niche performance market out there for everyone.  Work incredibly hard and want it bad enough, and you’ll eventually carve one out for yourself.

2)    That lifestyle wasn’t for me.

Investing 6-8 months of your time to really figure this out is not such bad idea.  Plus, if you do could to a conclusion similar to my own, you are armed with a wealth of resources to go in a different direction (see below).  

·    The experiences you have will be unlike any other.

Oh the stories you’ll be able to tell once you’ve come back home!  (But of course you won’t, ’cause you signed that confidentiality agreement and all…) 

For Everyone:

·    The Disney Philosophy on Customer Service is simply the best out there. Period.

In a nutshell: If a kid drops his ice cream cone, you get him a new ice cream cone.  No stopping to ask a superior and no worrying about what it will do to the bottom line.  Even at the lowest rung on the totem pole, you are empowered to do what’s right for the “Guest”.  (That’s Disney-ese for Customer.)  It’s this proactive approach that really sets Disney apart.  You’ll get to hone your skills everyday while interacting with real people, plus get feedback from your managers.  Be forewarned though, when you come back to the real world after being in this environment for a while, it’ll really make your blood boil when other companies don’t treat you (or anyone else) with the same respect.

·    Thinking outside-the-box is not only the norm, it’s expected.

Above and beyond the preceding bullet, you are highly encouraged to get creative in order to give Guests their best, most personalized experience possible.

·    You are empowered to make magic for those who need it most.

Both Make-A-Wish and Give Kidsthe World families are frequent visitors to the parks.  I was lucky enough to inadvertently grant a child’s wish one day and I still tear up whenever I tell someone about it.

·    Exposure to how a really big company functions.

Just like finding out whether the life of a performer is right for you, so is finding out if you want to go to work for a super-ginormus conglomerate. 

·    Endless networking opportunities, across all areas.

Every month Disney University publishes a calendar chock full of events, many of which are meet-n-greets with heads of various departments that you otherwise would never have the chance to hear speak.  Take advantage of as many as you can.  If you aren’t working and there is an event, make it a priority to be there.

·    You’ll never look at presenting material in the same way again.

If you’ve visited the parks before, you already know that Disney is the master at transforming the act of waiting in line to get on a ride into an entertainment that could easily hold its own.  The same goes for their orientation and training sessions.  Mixed-modality doesn’t even begin to cover it.

·    The courses you are able to take will change your life.

If they are still offering one called Marketing U, make sure you take it.  You’ll thank me later.

·    There is hardly a major this isn’t directly applicable to.

Go on and try me in the comments – I triple-dog-dare you!

·    Explore areas of the parks you wouldn’t normally experience.

You get in for free, so you might as well check out everything!

·    Be privy to the latest and greatest.

As a Cast Member you often get to be the guinea pig for new rides and attractions.

·    Cast Member Only Nights at Pleasure Island

Unfortunately, they have since closed this part of the park so this one doesn’t technically exist anymore, but I’m sure they’ve come up with something just as great to replace it.  (Anyone who has been down there more recently than 2004, leave a comment and let us know!)

·    You will make at least 100 new BFFs.

I made friends at the audition that I was excited to see when I got off the plane, and I still keep in touch with people I met while I was down there.

·    The stories and experiences you’ll come back with.

I kind of said this in the Performers-Only section above, but it is no less true for any other Cast Member!

To learn more about the Disney College Program, check out https://www.wdwcollegeprogram.com/