How to Stop Being Weird About Money: Insights from Paco De Leon

Many artists and creatives feel that managing money can hinder their artistry, leading them to avoid financial discussions. Yet, understanding money can provide the freedom to create without constraints.

The Intersection of Art and Finance

You're not alone if you've ever felt a sense of anxiety about money as a freelancer or artist. Paco De Leon, a musician and financial consultant, emphasizes that many creatives view money as a burden rather than a tool. This mindset can stifle both your artistry and your ability to pay the rent.

"Money is a proxy for power." — Paco De Leon

He believes that understanding finances is crucial for artists battling the struggle to maintain creativity while managing bills. Focusing on money doesn't compromise your art; instead, it can empower you to take control of your schedule, commissions, and future projects. Finance might seem intimidating, but with the right strategies, any artist or freelancer can navigate it confidently. At the core of Paco’s advice is the idea that you can be good at managing money—your creative freedom depends on it.

Understanding Your Value

Managing money effectively begins with understanding your worth. This can be daunting for artists who are often conditioned to undervalue their contributions. You may feel uncertain about assigning a dollar figure to your work, whether it’s a painting, a melody, or a design project.

Paco encourages creatives to explore ways to evaluate their output by considering both tangible and intangible benefits. For instance, before setting a fee, reach out to past clients or peers and ask: “Would you pay this rate for my service?” These conversations provide real feedback about market expectations and help you refine your pricing. When you set rates that accurately reflect your skills and the value you deliver, people respond with respect rather than resistance.

Breaking Through Financial Shame

Financial shame can keep you stuck in a cycle of avoidance. Whether you're embarrassed about debt or uneasy about your earnings, these feelings can be paralyzing. Paco reflects on his time as a debt collector, observing how often people reacted with anger or fear when discussing money.

He points out that "we are all weird about money." This shared struggle can be the first step toward community and healing. One effective strategy for overcoming shame is journaling. By writing down your financial thoughts and emotions, you articulate hidden fears and reframe your beliefs. Recognizing that shame often stems from societal expectations lightens its weight. When you confront these feelings openly—perhaps by talking with a friend or mentor—you foster connection and reduce isolation.

Practical Steps to Financial Empowerment

So, how do you start feeling empowered about your finances? Here are a few of Paco's actionable tips that can help streamline your journey:

• Create a Buying List: Instead of succumbing to impulse purchases when you scroll social media ads, keep a “buy list.” Jot down what you want—size, color, style—and let it sit for several days. Often, the urge fades before you commit.
• Set Up Different Accounts: Separate your spending into distinct accounts. Designate one for essentials, another for taxes, and a third for discretionary expenses. This artificial scarcity prevents accidental overspending.
• Understand Opportunity Costs: Before making financial decisions, consider what else you could do with the same resources. That mindset keeps your long-term goals in focus.
• Validate Demand: As a freelancer, talk directly to your network about your prices and offerings. A simple conversation can confirm whether your rates align with market value and avoid undercharging.

Implementing these steps helps you build confidence and replaces anxiety with clear actions.

Shifting Your Mindset on Thrift

Thriftiness is often misconceived as being cheap, but for Paco, it's about consciously allocating resources to activities that matter most. When you understand opportunity costs and trade-offs, you realign your spending with your priorities. Investing in skill development, a mentorship program, or even new art supplies becomes a mindful decision rather than an impulsive expense. Viewing thrift through the lens of power means you’re not just saving money—you’re directing funds toward experiences or projects with the greatest potential for growth.

Confronting Financial Wealth and Power Dynamics

Paco also tackles the complexities of the financial system itself. By learning the rules, histories, and enforcement mechanisms—like insider trading regulations—you equip yourself with critical knowledge. This understanding transforms information into power and levels the playing field for those who feel excluded from the finance world. His mission is to demystify financial concepts and make them accessible, so everyone can decide which aspects of the system they wish to retain or reshape.

The Path Forward

Navigating the world of finance doesn’t have to be a solitary experience. Open conversations about money within creative communities can dispel stigma and foster collective growth. Whether you’re just starting or have years of experience, continuous learning is key. Incorporating financial literacy into your artistic journey frees you from living paycheck to paycheck and unlocks new opportunities for creative exploration.

How do you view your relationship with money? What steps can you take today to empower yourself financially?

• Be proactive: review your accounts, set up dedicated spending buckets, validate your pricing with peers, and establish a consistent journaling practice to confront money shame.