Hi,

Let’s jump right into it. This week’s newsletter is a check-in with Rachael Bronstein, a financial coach for the music industry who was generous enough to share some of her time with me.

Rachael shares her advice and guidance for how artists and their teams can improve their financial well being.

Let’s dive in ⬇️

Over the last few years I’ve been doing a series of Twitter threads (I guess we’re calling it X now) where I “check in” with professionals of different roles in the entertainment industry, ask them a question, and publish their answers as a thread.

The threads have proven to be super insightful and are a look into how other people in the industry are thinking about things.

I thought it’d be worth doing the same exercise with a financial coach for the music industry so I checked in with Rachael Bronstein, the Founder & Financial Coach at Life’s Jam. Life Jam’s is a company that was created in May 2021 in response to the pandemic shutting down live music.

I first met Rachael at the Jump Global Conference last November where she hosted a presentation on managing your money + financial literacy in the music industry.

Fast forward a few months and we recently connected to chat about what she does and important things for artists and their teams to consider.

_{What does Rachael do?}

When I asked Rachael what the main goal of her work is, she responded:

“To help people live their best lives by finding a system that works for them in managing their money, both for today and their future.  Some people approach me and say they need help with saving or getting out of credit card debt but when we peel back the layers, there’s actually more there.

We might see that there are behaviors or mindsets around money from earlier on in their life that are affecting the way they handle money now. We’ll look to address those things too - the underlying causes, not just what’s happening.”

_{The importance of having a plan}

When it comes to the biggest mistake artists and their teams make with money and finances, Rachael said that hands down it’s: