Our latest episode is out, and it’s all about budgets, baby!

In this episode, Mackenzie and Lauren break down:

• How to set reachable financial goals
• How to track your income and expenses like a pro
• How to stick to a budget that supports your lifestyle (and your sanity)

Whether you’re saving for a new instrument, booking travel for your next gig, or just trying to stop stressing about money, we’ve got the strategies you need to stay on track.

Tune in for real-world advice, budgeting tools, and some fun (yes, fun!) tips for securing your financial future! 

SMART GOALS:

Specific – Make sure your goal is clear (e.g., save $200 for oboe maintenance).

Measurable – Define how you will measure progress (e.g., check in every week to see if you’re on track).

Achievable – Is the goal realistic given your income and expenses? Yes, $200 is doable

Relevant – Does this goal align with your long-term career as a musician? Yes, I need good oboe lol

Time-bound – Set a deadline for when you want to achieve the goal. 2 months (8 wks)

If we want to save $200 in 8 weeks, use $200/8 to get your savings goal per week, so $25 a week. Not so out of reach when you break it down into manageable chunks, huh? Frameworks make the drame work! Close enough.

Now let’s apply this idea to an entire budget. We’ll assume:

• You’re a classical musician between 23–35
• You have mixed income: teaching, gigs, maybe some freelance or part-time work

Monthly income: let’s say $2,000/month or $500 a week for now, understanding that this is adjustable!

You want to keep it realistic but start making progress towards your short-term, medium-term, AND long-term goals. That’s incredible, you go Glen Coco!

Budget Breakdown – $2,000/Month

Category	% of Income	$ Amount	Notes
Essentials (Rent, food, bills)	60%	$1,200	Keep this lean, but stable
Short-Term Savings	8%	$160	Audition costs, instrument upkeep
Medium-Term Savings	7%	$140	New instrument, projects, grad school
Long-Term Savings	5%	$100	Roth IRA or emergency fund
Spending/Fun	10%	$200	Still important for mental health & balance
Flex/Miscellaneous	10%	$200	Buffer for debt, surprises, extra savings, etc.

Episode Links:

https://www.nerdwallet.com/article/finance/free-budget-spreadsheets-templates

Best Budgeting Template & Spreadsheets (expert picks)