bills, bills, bills #17

A week in the life and wallet of an artistic director in the rural Northeast

Bills, Bills, Bills is a monthly series of anonymous money diaries from theatre workers curated and edited by Jenna Clark Embrey. The full archive is available here.

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editor’s note

This month features our first ever artistic director! There is probably no position more underrepresented in the Bills, Bills, Bills submissions than artistic and executive directors; my hat is off to this month’s columnist for being the bravest. I think this month’s column really speaks to the daily grind of being a leader and the reality of how poorly this industry (and our country at large) prepares people for retirement. As I was editing this column, I have been simultaneously preparing to speak to a group of undergraduate students in the next few weeks about the financial realities of being an artist. I’ll leave this note with the same topline advice I’m giving them: Start saving for retirement now. Even if it’s only $20 a month, open an account and make regular deposits and never, ever, ever touch it.

Job/Position: I am a Producing Artistic Director of a theater company with a $500,000 operating budget that I co-founded over a decade ago. I co-lead the company with a Managing Director, who's been with the company three years. I am also a director, although I don’t freelance much as a director since the pandemic. My role as Producing Artistic Director runs the gamut from season planning and hiring our artist teams to donor relations and grant writing to managing staff, dealing with HR issues and budgeting. I have done and continue to do it all, even cleaning the bathroom and vacuuming the office sometimes.

Age: 50 

Location: A rural area of the Northeast

Yearly Income: I have been able to grow my income to $57,000/annually. I get paid $854 weekly after taxes and deductions. (This comes out to about $3,700 per month after taxes.) Myself and the managing director make pretty much the same and our ongoing pay equity work ensures that no one in the company makes less than $20/hr and most make over $25/hr. (The living wage in our county is between $27-$35/hr so we have put lots of effort into growing our hourly wage and will continue to scaffold that growth over the next few years.) I also get $120 a month for a technology stipend that goes towards the use of my own computer and phone for my job. My job also reimburses me up to $5,500 towards health insurance. This year I also will make $8,000 as a freelance director for a show in the fall. 

After working as an artist for over 25 years, I have come to the conclusion that even though I have grown my salary to be enough to pay for a middle class lifestyle for a single person, I am unable to prepare myself adequately for my future. That is one reason I’ll be leaving this current job at the end of this year with the goal of finding a job that makes, at minimum, around twice what I make currently. Over the last few years, I dedicated some time to becoming as financially literate as possible and have therefore worked very hard to increase my own salary at my current job and diversify my financial portfolio as much as I can — but even with that, and with the savings I have, a retirement calculator indicates I need to make a change. I have hit the second cliff of our industry. Additionally, after 14 years growing a company and over 25 years in the theatre, I am ready for the next leap in my career. 

Debts:

• Mortgage: $113,113 

• Car Loan: $4,472

• Credit Card: $417 (I put the majority of all my food purchases on there — groceries and restaurants — and pay it off with my third week of pay as part of my budgeting efforts.)

Assets:

• Retirement: $649.14 in my retirement bank account (2% of my weekly pay goes in there and then at the end of the year, I transfer it to my Roth IRA at Vanguard)

• Overseas Retirement Plan: $27,000 from four years of teaching overseas in my mid-30s.

• Vanguard ROTH IRA: $25,767. I try to put the $7,000 max every year. I reinvest my dividends, plus the 2% I save every week and then move some of my investment money into the ROTH IRA to ultimately save on taxes when I eventually use it. My work also started a retirement plan last year and I have a under $2,000 in there.

• Savings: $12,218. I put $110 from each week’s salary into this account. I’m aiming to get three months of living expenses into the account at minimum. I’d love to always have that in there, but I’m especially motivated as I’ll be stepping out of this job at the end of this year and want a cushion in case I don’t get another job right away.

• Investment Accounts: $53,302. Vanguard Investments in ETF bonds and stocks, some of this is from a lump sum alimony payment I got from a divorce a few years ago. And $86,088: my half of the shared retirement savings from my divorce, also in a variety of stocks and bonds.

• Checking: $949.76

• Dreams: $820.15 ($35 goes in there from each week’s paycheck; This is for vacations or other dreams)

• Emergency: $305.25 ($60 goes in there from each week’s paycheck; I had more in there last week but had an unexpected service to my car that cost $140)

• Health Insurance Account: $3,521.27 ($465 gets transferred into checking each month on the 15th to cover that months’ health insurance which is done through auto-pay — when I get the $5,500 from the company, I put it in here and then transfer monthly)

Monthly Expenses: 

• Mortgage: $650. Auto-paid for with my first weekly paycheck, total amount indicated in debts above.

• Condo Fee: $538. Auto-paid with my second weekly paycheck. This covers my heat, hot water, internet, snow removal, landscaping, garbage, and recycling.

• Electricity: $60, depending on season (auto paid with my first weekly paycheck).

• Massage: $120

• Food: $640 ($180 for a bi-weekly Green Chef meal box which comes out of my checking, rest on groceries or restaurants which goes on credit card and paid for with my third weekly paycheck)

• Gas: $80 on average 

• Tolls: $22 

• Netflix and Apple Subscriptions: $18

• Monthly Donations: $10 to a Patreon project

• Automatic Savings: $440 into savings, $240 into emergencies, $140 into dreams, $100 into retirement

• Car Payment: $235 

• Car Insurance: $85 

• Phone Bill: $114. I get unlimited data and add international so I can reach my parents.

• Healthcare: $465. Covered by the health insurance reimbursement I get paid once a year by my job for health and dental.

Total Monthly Expenses: $3,956 

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Sunday

I wake up around 9:30 — a good ten hours of sleep, which I needed after two previous nights of not nearly enough as I balance directing a show and co-leading the company. It’s a holiday today so I’m having a brunch Facetime date with my parents and sister. It’s also the one day off I have this week as we started tech yesterday for a show that opens next Sunday. After brunch, I finish cleaning my condo so I can feel good going into tech with a clean home and then head out for a six-mile hike. I know I’ll be sitting a lot next week so I want to get a really good day of movement in, plus the weather is perfect for a hike and nature provides a good mental health boost. I listen to one of my favorite podcasts as I walk, Ten Percent Happier, a subscription for which I pay $100 a year.

When I return, I sit outside in a chair in the sun and eat the rest of a meal kit dinner that I had in the fridge and do some scheduling with my agenda to organize and look over the coming two to three weeks. I try to pay a health care bill that’s been hanging over me, but the phone number to call to pay by phone doesn’t work. This is a bill I got for some additional testing that needed to be done that wasn’t covered by my insurance. I was lucky that I got a referral from a helpful acquaintance in the health advocacy office for a grant fund that I applied for that covered some of the bill, so my remaining cost is around $227 (which will come out of my emergency fund).

I also make the decision to book a fall retreat long weekend that I’ve been waffling about doing as it will cost $1,400. Another friend has attended these in the past and raved about it. This is not something I would ever normally do, especially as I’m working hard to save money to have in the bank next year when I’ll be job searching, but the registration fee was waived as I’ve been invited to attend and my friend is going to help with lodging, so I’ve decided to go for it. I’m heading into a career change so I figure it will be inspiring to attend this retreat, which will be full of thought leaders in different sectors. Attending may help open some ideas and doors for me. I am going to see if I can figure out how to get the cost covered by another grant between now and then. We shall see. 

After doing my physical therapy exercises and meditating to a few Ten Percent Happier meditations, I make some tuna salad to have on hand for the week. I prep a few other things and make a mental note of how I’m going to eat this week without spending a lot of money on food — always a challenge during tech. 

I check in with my parents again in the early evening. My mom has been experiencing health issues and is elderly so my sister and I are part-time caregivers, which means I spend a lot of time going to spend time with them. I then watch some television and chat with my boyfriend via Facetime. He lives a couple of hours away. I love the quiet evenings and finally relaxing and always have a hard time getting myself to bed in time as I always long for a bit more down time. 

Total Spent: $1,400 

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Monday

Woke up around 8 and did a short meditation. I wrote a graduation card for my niece and gave her a $400 check, as I did for her sister: $200 for her and $200 to donate to a person or organization of her choice. I paid the health bill ($271.46), my monthly health insurance payment came out of autopay today ($465), and also booked an R&R day for my upcoming birthday for my beau and I at a local wellness center. I used a gift certificate from last year so that doesn’t cost me anything. Did a couple of hours of operations work and development calls at home before mailing the card and heading to the theatre for our first 8 out of 10. Had some of my pre-made tuna salad for lunch. I always like this first day of tech because the company has a potluck provided by our volunteers, which is just a lovely tradition and a great way to feed everyone that first day so no one has to worry about food on the first day of tech. The weather was beautiful so we sat outside and enjoyed being together and getting to know the new additions who joined us at tech on our two-hour dinner break. Did our first full run-through in costume in the evening followed by notes and a production meeting. Called my beau as I drove home and had a lovely bath with some scrolling through the news and my social media sites before drifting off to sleep. 

Total Spent: $1,136

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Tuesday

Today was a day off from tech. I had a full day of meetings and calls, starting with a meeting and followed by development calls to raise the remaining funds needed for a match we are planning, plus some phone calls to finalize playbill stuff. I had my tuna salad for lunch sitting outside on a bench outside our office. A good chance to relax and be mindful. I attended a late afternoon community event honoring a dear friend of mine, where I saw lots of community colleagues and had some great catch-ups. I was close to an Aldi, so, after the event, I went and did my grocery shopping for two weeks so I’d be prepared for the rest of tech and for some friends who are visiting next week. Shopping at Aldi has saved me so much money in groceries since the new year! I also went to one other store that has some stuff Aldi doesn’t ($81.70 + $41.10). When I got home from the event, I made my final meal kit meal from my delivery two weeks ago for dinner and put away the new meal kit box for this week and next week that had arrived that day ($90). Even though I didn’t feel like it, I also made a large batch of quinoa salad to have for lunch for the next few days. I Facetimed with my parents while eating dinner around 8pm to catch up with them. I then did some operations work and caught up on emails for about an hour before Facetime with my beau. At 10pm I watched a couple of episodes of a show and caught up on the New York Times and BBC before heading to bed. Watched a few episodes of something and went to bed later than I would have liked. Always hard for me to have the discipline to get to sleep. Always tempted to stay up a little later. 

Total Spent: $212.57

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Wednesday

Woke up at around 8:45, scrolled through some emails and news. Had toast with almond butter for breakfast and then headed out for a four-mile hike followed by some meditation and physical therapy. A good way to start day two of tech! Lunch of quinoa salad and then hit the theatre. Did our work list until 3:30, recorded the curtain speech afterwards in a dressing room, then caught up on emails until around 5pm. Went to get a spa pedicure in anticipation of summer and Sunday’s opening being warm enough for open toed shoes ($50 with tip). I normally get 1-2 spa pedicures a summer and it’s always a treat. Back to the theatre for our final invited dress rehearsal. We had about 25-30 people and they loved it! The reactions were so wonderful…to hear people laugh and be involved or to hear a pin drop in the quieter moments. What a blast. Feel really proud of the show. It will be my last show as the artistic leader of this company and it’s a great one to go out on. A good notes session afterwards, the final long one for the actors. Our first preview is tomorrow so I will give fewer and fewer notes as we are in such great shape and the actors are all starting to own it already. Home around 10:30. Caught up on a few emails, called my beau and tried to unwind with a bath. My sister is helping me out this week by calling our parents each night so I can focus on the play. 

Total Spent: $50

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Thursday

I have a 9:30am meeting so I’m up early and scrambling to get myself awake and ready. Kale and blueberry smoothie for breakfast. We have our first preview today! Had some administrative meetings in the morning, a monthly meeting with our work office landlord, a check-in with the Managing Director, some phone calls with donors and then off to the theatre for some work notes. Brought food for lunch and dinner so I didn't spend any money on food today, which felt great. Plus a really solid first preview, with a good crowd, which feels amazing after the last three challenging years. We finish the first preview with a lovely toast onstage. A lovely tradition marking the handing of the show over to the stage manager and a paying audience. I am not in the mood to call my beau on the way home so I text him and instead I take a long bath, catch up with the news and try to relax. 

Total Spent: $0

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Friday

I wake up around 9 as I have a Facetime scheduled with my family at 10 to see how things are going and say hi. I give my beau a quick morning call to check in, then, after my family Facetime, I have some admin meetings in the morning and some good final hours of rehearsing a few things in the afternoon while preparations for the weekend’s opening festivities swirled around us. Brought all my own food so I didn't have to spend any money. I eat and chat with the artists during our dinner break. The weather is lovely so we can be outside. I also take some quiet minutes to myself to lay on the grass and relax. 

Another good preview. I can feel the output of this week starting to wear me down. The combination of dealing with ongoing HR issues, preparing to announce succession, other operational and show meetings, completing rehearsals and giving the play away to an audience, all while trying to carve out some time to Facetime with my family and connect with my beau, is taking its toll on my nervous system. It’s amazing how much I go through being in the theatre with an audience. Giving the show away, as both director and co-producer, is so vulnerable. I can tell they are enjoying it, which feels so good after the past few deeply challenging years. Hearing an audience laugh is bliss. The material is also heavy at times and I am someone who takes on the energy in the room. I think, as I sit and take notes during the previews, that this is an area I still need to work on as a director and artistic director: remaining calm and centered in this time period of the show’s process, when I experience nerves around what could happen in the audience. So, after the show, I quietly slip away home where I Facetime with my beau and then have a long bath before happily heading to bed. I’m hoping that a quiet day tomorrow will restore me enough to feel good for Sunday’s opening. 

Total Spent: $0

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Saturday

Wake up really early, filled with excitement for the weekend. Intentionally do some deep breathing to calm myself down. I spend much of the day in bed in my PJ’s, writing cards, doing some final preparations for succession emails, listening to the birds chirp, giving permission for myself to be quiet and calm. It feels good to catch up on emails and make sure I'll be all set for next week. I’ll be spending it with my beau having the R&R day and I can’t wait…that was good planning! I get myself ready to greet the patrons but don’t watch the final preview as the show is in really good shape and it’s good to hand it over. Instead, my beau arrives and we have a take-out burger at home that he picked up and bought for us on his way.

Looking forward to tomorrow’s opening!

Total: $0

Weekly Total: $2,798.57