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Another challenging year ahead as financial issues take a toll on mental health and wellbeing Many of those working in Ireland’s creative industry are still in crisis mode financially as the sector starts to reopen after a tough 19 months of restrictions.
One of Ireland’s leading voices in the Irish music scene advises those working in the sector – both artists and event personnel — to take some time and use available resources to help plan for their financial future.
Minding Creative Minds Director Kim O’Callaghan says that while the arts industry is opening up, there is still much uncertainty and challenging times ahead.
“At the moment it’s challenging for people in the industry because a lot of them are on the PUP payment meaning they don’t have a lot of savings. What we’d like to see is people speaking to likes of Minding Creative Minds, Money Cube or Live Wire and start planning for the long term financially.”
A big challenge in the creative industry is that a lot of the work is sporadic in its nature, “Sometimes it’s about people doing something as simple as sitting down at the start of the year and figuring out what definite work they have and what can be done with those finances. Anything else that comes in then is a plus.”
According to Kim, people who call for Minding Creative Mind counselling services, “a huge amount them are calling with financial concerns that’s causing them to feel stressed. If you deal with the finances and take that time to plan, it can take that pressure off. People can in turn be more creative and enjoy the job more.”
Kim O’Callaghan is a project manager and deputy event controller for MCD’s Slane, Croke Park, RDS, Pairc Uí Chaoimh and Aviva shows. She is a Director of Minding Creative Minds, an organisation established to offer a free wellbeing and support programme for the Irish creative industry.
“We need to help people out of crisis mode. Many in the creative sector — not just artists — will have been surviving on PUP payments which are now being cut and, while it might not seem like a lot for some people, it could make or break others. Financial issues are also impacting on overall wellness and taking a toll on people’s mental health,” she says.
She is also on two working groups — EPIC and the Department of Tourism, Culture, Arts, Gaeltacht, Sports and Media Live Entertainment Working Group — established to assist the performance industries impacted as a result of Covid-19.
Kim also established the #We Are the support act fundraising initiative in April 2020, which has raised over €450,000 to help fund much-needed resources for personnel in the live events industry.
Kim O’Callaghan says: “As the industry starts to open up, many will be facing financial challenges in both their personal and business lives. Even those who are good with money and were saving for a rainy day would not have expected that rainy day to continue for up to two years. Many who work in the outdoor sector might not have worked since the summer of 2019 and may not end up working until the summer of 2022.
“People should not feel bad; it’s not their fault. They were caught completely off guard. Even those who have saved will have used all their savings and need help and support to re-plan. It has been tough even for successful business and many are just trying to keep their heads above water. While many are still just trying to get out of crisis mode, we need to plant the seed for planning for the future so if they are out of work for another other reason in the future, they are prepared.”
Kim urged those in difficulty to visit mindingcreativeminds.ie where they can access free business, personal and wellbeing advice. She also noted that the A.I.S.T Hardship Fund — open to all crew and production staff in the live event, arts and entertainment industry — has opened a new round on September 13; .
Online platform for investments, savings and platforms, Moneycube.ie believes that with the right advice, everyone can take charge of their savings.
Co-founder and head of financial advice, Moneycube.ie, Ralph Benson, says: “We’ve focused on people in the creative sector because we know they need help to rethink and reorder their finances after such a difficult year.
"Working in the arts and performance industries brings some special considerations from a financial perspective. For example, earnings can be very uneven, with high earnings due to an exhibition or launch in one year, and a quiet year the next. Many people in these industries are also self-employed and work flexibly. That means a need for a little more planning and resilience than if there’s a steady cheque coming in each month.
"Fact is, there is almost always something each of us can do today to improve our financial situation — from revisiting old pensions, to starting new ones, and building our savings and investments. With some smart planning and by taking advantage of the incentives that are out there — including pensions — there is a huge amount that people working in the arts to put their finances on a stable footing and grow their money.”
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