2021 Financial summary

Income

Total personal income: $32,804

Avg monthly income: $2742

Summary

Over half of my income came from teaching. What I mean by “contract teaching” is that I was employed to teach for a separate business. “Private studio” is also teaching, but either for my own business, or as a private contractor for public schools.

We moved exactly halfway through the year from Los Angeles to Denton, TX. My church job in LA was higher paying, and included choir director responsibilities. My current job is lower paying, but with only a Sunday morning obligation (no other rehearsals or responsibilities).

I worked part-time at a cafe while we were in LA, but did not work in food service for the rest of the year. Food service was my very first job, and I think I MAY have graduated from that kind of work for good!

Gigs were a measly 2% of my income, and something I want to focus on growing for 2021. The more diversified your income sources, the better, especially with an artistic (unpredictable) career. With multiple income streams, even if you lose one of your jobs, you will have other options to generate income.

Looking forward

Here are some of my ideas/thoughts on income for 2022:

Establish a group/project that can perform gigs, probably in schools
Digital products for download (sheet music arrangements, transcriptions)
Other possible sources of income, since…
Food service has been eliminated, and church will be a smaller slice of the pie in 2022
I would like to reduce my teaching load (but not necessarily income)
Create valuable resources and experiences for the flute community at a very accessible (or free) price point
Participate in community groups for the performance experience and access to network

Business Spending

Total business spending: $11,200

Note: my husband is also a musician, so this chart includes business spending for both of us.

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