Spotlight x The Engagement Appeal: Finance 101

Apr 5, 2024

By Emmeline Armitage

The Engagement Appeal was thrilled to join forces with Spotlight on the 28th February for a session on money mastery for artists. We are pleased to have been part of the panel of creatives and financial industry reps, who spoke to 200 actors about the importance of personal finance to career progression and security.

Leading the session were TEA Advisers, Karin Schulte, an experienced investment professional, adviser, supporter of the Arts, governance and education; and Mildred Yuan, talent agent, diversity adviser and coach with 11 years’ experience in TV, film, theatre and books; Emmeline Armitage, TEA’s multi-talented inaugural Artist Ambassador, writer, performer and vocalist; and Jo Dare FCCA, one of the first female Partners at Blinkhorns, who specialises in dealing with Production Companies, models, artists and authors.

The session began with a masterclass on contracts from Mildred, whose experience as a talent agent gave many important insights into the importance of being represented. She encouraged all the actors to maintain positive working relationships with those who represent them, and never to sign anything without legal oversight. She also outlined the differences between being self-employed and on a PAYE scheme, and covered the basics of what an agent is expected to do for you. This was followed by Emmeline thoughts on financial literacy from an artist-led perspective. She outlined the struggles of working for yourself, and learning the value of keeping good business management. Her best advice? To familiarise yourself with the HMRC website and to stay organised, by keeping on top of receipts, expenses and invoices.

Blinkhorns representative Jo Dunne then begun to touch on the minefield that is: how to pay tax. She spoke concisely about the differences between being self-employed and working for a company/organisation, and also spoke about the importance of self-assessment forms, along with the dates they are due to be filled out. Finally, Karin ended the session by discussing ‘money buckets’ and the importance of having emergency savings as an artist when you don’t always know the size of timings of your next pay cheque.

We were thrilled with the overwhelming response from the actors at the session, and the general desire for better financial literacy for all. For more information on the topic, please download the presentation here.

The post Spotlight x The Engagement Appeal: Finance 101 appeared first on The Engagement Appeal.

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