Money Music 101: Essential Finance Skills for Musicians, Artists & Creative Entrepreneurs [Paperback]

Clemens Kownatzki (Author)

Book Description

Publication Date: April 6, 2011

This is not another finance book that promises you to get rich quick. Instead, it offers a systematic approach to learn some essential finance skills and to promote good money habits. The book is geared towards musicians and artists but it is also full of vital information for a typical young adult entering the work force or about to head for college. If you are considering a career as a self-employed creative entrepreneur or in case you just wish to brush up on your basic financial literacy skills, you will find extremely good value in this book. The author is an investment advisor and a former musician. He can relate to the world of finance from an artist’s perspective and is therefore uniquely qualified to teach personal finance in a way that makes sense to someone who has little or no experience with money matters. The book is full of fun and thought-provoking examples showing you how to keep your financial house in order. Ultimately, you will learn the financial strategies that will set you apart from those who live from paycheck to paycheck.

Editorial Reviews

From the Author

This book is using a bottom-up approach in the way the material is presented. Chapter One gives you a bit of a historic background about money and banking. Chapter Two is a review of basic math concepts like interest and the time value of money. If you already learned about the history of money, how banks evolved and how to do basic money math, feel free to jump forward to Chapter Three. That's when we dive right into practical applications such as handling your bank accounts, dealing with credit cards, loans, budgeting and developing your own financial plan. Finally, we discuss investments and learn how to develop a simple but effective financial plan.

When going through this book, I would encourage you to take lots of mental breaks and carefully read the sections called "Think about it." Those are brief notes not only helping you to digest what you just read but also giving you a different perspective on things.

Don't forget to register by sending an email to [e-mail]. Registration will give you access to additional tools, information as well as free access to new editions of the book once available.

Lastly, check out the resource section at the end of the book. You will find links to useful websites, online tools and book recommendations. You can find more resources, downloads and additional updates on our website:  moneymusic101.com

Quotations

• "This leads us to an important revelation when it comes to finance. Without exception, the financial institutions that hold "YOUR MONEY", i.e. your bank or your broker, create terms that work in their favor rather than in yours. Therefore, the interest you receive on your savings will never be anywhere as high as the rates charged for a loan. The difference between receiving and paying interest from the bank's point of view is easy profit. Sadly, that is not something the banks are willing to give up for your sake."

• "Remember, it's your money that's sitting in the bank! You are just letting the bank keep it for a while. For the privilege of using your money, they owe you something in return. You should never have to pay for having someone use your money!"

• "'SAVINGS' is a term that should only be used when it applies, as in the money you have in your savings account."

• "DO NOT dabble in the markets until you reach your essential savings goal!"

• "It's not what you make but what you keep!"

From the Back Cover

This is not another finance book that promises you to get rich quick. Instead, it offers a systematic approach to learn some essential finance skills and to promote good money habits.  The book is geared towards musicians and artists but it is also full of vital information for a typical young adult entering the work force or about to head for college. If you are considering a career as a self-employed creative entrepreneur or in case you just wish to brush up on your basic financial literacy skills, you will find extremely good value in this book.

The author is an investment advisor and a former musician. He can relate to the world of finance from an artist's perspective and is therefore uniquely qualified to teach personal finance in a way that makes sense to someone who has little or no experience with money matters.  The book is full of fun and thought-provoking examples showing you how to keep your financial house in order. Ultimately, you will learn the financial strategies that will set you apart from those who live from paycheck to paycheck.

See all Editorial Reviews

Product Details

• Paperback: 200 pages
• Publisher: Clemens Kownatzki (April 6, 2011)
• Language: English
• ISBN-10: 0615431496
• ISBN-13: 978-0615431499
• Product Dimensions: 9.9 x 7 x 0.6 inches
• Shipping Weight: 12.6 ounces (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (6 customer reviews)
• Amazon Best Sellers Rank: #823,460 in Books (See Top 100 in Books)

More About the Author

Music and finance are generally seen as diametrically opposed disciplines. Not so according to the author of Money Music 101. Clemens Kownatzki is an investment advisor as well as a musician. He can relate to the world of finance from an artist's perspective and is therefore uniquely qualified to teach personal finance in a way that makes sense to someone who has little or no experience with money matters.

As an executive and market practitioner for two decades, he has some unique insights into the world of finance. He frequently shares these insights at his investment blog FXinvestmentstrategies.com and as a contributing author at SeekingAlpha.com and BusinessInsider.com.

Clemens earned his M.B.A. degree from the Graziadio School of Business at Pepperdine University.

But he is also an experienced and passionate musician of many years. He graduated from Musician's Institute, Los Angeles in 1987 and was nominated Outstanding Guitar Player of the Year Award Winner.

He currently lives in California with his wife and two children.

Customer Reviews

Most Helpful Customer Reviews

2 of 2 people found the following review helpful:

5.0 out of 5 stars Easy Listening Music, April 29, 2011

By 

Karyn Hodgens - See all my reviews

This review is from: Money Music 101: Essential Finance Skills for Musicians, Artists & Creative Entrepreneurs (Paperback)

Although written with the artistic spirits in mind, the concepts presented in Money Music 101 apply to all young adults interested in establishing a financial foundation for success.

Filled with easy to understand examples on important topics like budgeting and investing, the author shows how simple it can be to begin taking charge of personal finances. Especially useful are all the practical money management tips such as how to avoid excessive fees and the real truth of convenience checks.

An important and recurring theme throughout the book is the concept of the time value of money. Again, the author offers simple, yet powerful examples of how setting up a money management system can pay off (literally!) in the long run.

Following the recommendations outlined in Money Music 101, readers will soon find that words like budget, insurance, interest, and savings goals are music to their ears.

2 of 2 people found the following review helpful:

5.0 out of 5 stars A manual for your labors, April 21, 2011

By 

P. Strobl "musician" (Southern California, USA) - See all my reviews
(REAL NAME)   

This review is from: Money Music 101: Essential Finance Skills for Musicians, Artists & Creative Entrepreneurs (Paperback)

This book should be on every music student's reading shelf alongside Jerry Coker's Patterns For Jazz or Walter Piston's Counterpoint. Money Music 101 has the look and familiar vibe of the instruction manuals packaged with professional recording software like Protools, Reason or Cubase. The heck of it is that, as musicians, we have a tendency to put off reading those manuals too, at least until we've exhausted all of our self-inflicted brilliant dead ends bringing us mercifully to the point at which we will at least establish a strained relationship with the book, leaving the thing on the bathroom window sill for periodic research.

And in the same way that we know-it-alls think we can operate a DAW on a plug-and-play basis without bothering to find out what the book might say about the red button and what it might actually be for, we bungle our way through our finances dead sure that eventually we will get the royalty check or sell enough of our old gear or hear of the right great aunt's passing that will finally turn our careers into a profitable life-choice.

We can all do ourselves a big favor, save valuable time and actually get some creative work done if we would just read the book before pushing buttons haphazardly. Music Money 101 taken daily with our without food, while not being a guarantee for artistic success, will provide the minimum daily requirement of sanity if taken in sufficient dosages.

Highly recommended!

5.0 out of 5 stars A Classic Introduction to Personal Finances, July 21, 2011

By 

Cecil Smith - See all my reviews

This review is from: Money Music 101: Essential Finance Skills for Musicians, Artists & Creative Entrepreneurs (Kindle Edition)

This clear and concisely written guide to personal finances should be on every young adults must-read list. Although marketed to musicians, it offers a treasure trove of fiscal building blocks anyone can use to improve their own financial situation.

I particularly enjoyed the way the author simply yet elegantly educates us on the history of the institutions that make up our money and banking system and gives us easy to follow methods to calculate the end results of the finance terms we hear bandied about everyday yet truly don't understand.

You'll marvel at the ease in which you can learn to build your essential finance skills while giving you a solid foundation for growth as your career progresses. Highly recommended!!