Finances and Budgetting

There is a current conflict in the band that gives me the opportunity to bring this topic.

For the sake of not point fingers at anyone in the band, for it isn't necessary to know who did what in order to learn from this, I will not use names. A, B, C, and D will represent all four members.

Let's face it, music in general is not cheap, especially when it comes to equipment. So it's really important to budget when it comes to making such big investments.

And it is in those kinds of situations you get to learn the real financial skills of each member. And sadly, the HARD way.

A, B, C, and D had made a deal concerning the purchase of a rack, and that within a month the money would be ready to do go through with the purchase.

A and B don't have a job. A had invested for most of the equipment so far back when he had two jobs, and feels like the rest should start pitching in. Though looking for jobs, no luck so far. He is already having trouble paying off credit from the equipment he bought earlier this year.

Lesson from A: never, ever, put something on credit if you don't have the exact amount of money to begin with. Don't buy something you don't have the money for. Easy rule that he had to learn the hard way. Never depend on the next paycheck either. If you get laid off... where is the cash supposed to come from?

C and D both have jobs. D has been investing in equipment and spending most of his cash for that. C got injured and couldn't work for 4 days. Yet, knowingly that the band really needs the rack and that his injury may push back the purchase of it, he goes out and buys a $100 jacket. When the band brings it up to him, he chooses to not take responsibility of his action and gets defensive about it instead.

Don't get me wrong, any member has his own financial freedom. But what is wrong with this picture? The fact that C disregards that one member is already in some sort of credit debt because of his financial miscalculations for the band? The fact that C doesn't look at the fact that D has been spending most of his cash for the band? The fact that C ended up not going through with the deal made with the band without giving heads up? Or that C can't recognize his lack of reasoning when coming to the jacket?

Lesson from C: you might have to put up with a member who won't make smart financial decisions. You need to be able to see it, and try to handle it the most mature way possible, which is not an easy task. Money isn't easy to handle, and sometimes you have to teach each other and learn from each other about financial responsibilities.

Is this whole situation a big deal? No, but nonetheless important. The rack could be bought in the long run some other time. But having a band is like having a job, you just can't blow it off without taking the necessary responsibilities.

It's actually an important problem to face now, rather than later down the road, and I'm glad we're actually going through this. It helps all of us reflect on ourselves and learn from all this.

Let's hope this dilemma gets handled properly, in adult manner.