Pay yourself first
Hey, Nikki here!
This week we have another popular previous episode — a Giggs Rewind of my conversation with Rachael Bronstein, founder of Life's Jam, a financial coaching service built specifically for touring and live event professionals.
Rachael came from production finance and corporate startups before turning her work toward the people backstage. She now works with crew, freelancers, and tour rehearsals on the part of this career most of us never got trained for: the money.
Rachael doesn't talk about money like a stiff financial advisor. She talks about it like someone who knows how this industry actually pays people.
Why this one matters:
This industry runs on freelance income. 1099s, day rates, retainers, off-tour gaps. Roughly 70% of music industry professionals are freelancers, and nearly half are reporting financial anxiety and stress.
Most of us got into this work for the craft, not the spreadsheet. And then we hit our first big tax bill, or the first long stretch between gigs, and realize nobody handed us a playbook.
And yes, I know we’re past “tax season”, but this is the advice we need now — not when it’s time to do taxes.
#1 Clarity comes before strategy
Rachael shared that a lot of her clients come in paralyzed. They know there's a problem, but they freeze instead of looking at the numbers.
Once they sit down and actually see what's coming in and going out, the fear gets smaller. You can't build a plan around a monster you won't look at.
Takeaway: You can't fix what you won't open.
Try this: Pull up the last 30 days of your bank and credit card statements this week. Don't budget anything yet. Just look.
#2 Pay yourself, regardless of the gig
When you're on a tour earning well, it's easy to leave it all in checking and treat the whole pile as spendable.
Rachael's approach is the opposite: figure out what it actually costs you to live each month, pay yourself that amount, and move the rest into separate accounts with names — taxes, emergency, house, travel. Labeling matters. Money in a bucket called "taxes" is harder to spend on a credit card bill.
Takeaway: Steady income isn't about how much you make. It's about how you handle what comes in.
Try this: Open one separate savings account this week and label it for the next thing you actually need to fund — taxes, emergency, or a real goal.
#3 Save for taxes nobody warned you about
If you're paid as a 1099, taxes aren't being taken out for you. Rachael sees a lot of touring professionals end up on IRS payment plans because they got hit with a bill they didn't plan for. Once you're behind on taxes, you're swimming with clothes on. Everything else gets harder.
Takeaway: A surprise tax bill is the most expensive surprise in this industry.
Try this: If you got paid 1099 last year, set aside 25-30% of every check this year into a separate account before you spend any of it.
If you want the full conversation, listen to The Giggs Podcast Rewind with Rachael Bronstein.
SPOTIFY | APPLE | YOUTUBE
— Nikki
P.S. One line I loved: Rachael told me to keep a brag sheet. Just a doc where you write down the wins — the day you saved the tour money, the compliment from your boss, the small accomplishments that don't make it onto a resume. We're so quick to lean into the negative, and this is a way to lean into your own positivity, with the receipts to back it up.
