Is Your Band Budgeting Correctly?

I’ve encountered two extremes when it comes to bands and saving money. Some bands save everything, don’t pay themselves a cent. Other bands save nothing, paying out the individual members everything. Then there is the moderate approach, saving some of it, paying out some of it.

For the bands that save nothing, when it comes to a major expense, recording an album for an unsigned band, going on tour or even minor expenses like photoshoots and getting merchandise, how do you pay for it? Does everyone just chip in? Do they pay equal amounts? Does one guy bankroll it all? Surely it would be better to not have to reach into your pocket each time your band wants something?

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