(Art &) Money

The New York Times reports today on Annie Leibovitz money troubles and it made me think about how little most art schools prepare their students for the real world. I went to a major university (twice) to study art history and photography. My alma mater is also home to one of the best business schools in the world, but I never took advantage and never took any business classes. My dad always wanted me too and I should have listened to him (Sorry Pappa!).

I think art schools and probably all colleges should add financial planning (or shall I call them financial awareness) classes to their required curriculum. I know we are all ultimately responsible for ourselves, but school is one place where one should be taught & guided.
(Art) schools often completely neglect to prepare their students for real life (and leave some students also with huge debt). If you are lucky enough to actually make a living at what you love, often (as a creative person) you end up with a small business. And when you do, you have to learn on the go and fast -- especially in New York.
I am still playing catch-up when it comes to my financial education. And it is not even just about succeeding in the market place, it's also about how to manage money long-term -- Ms. Leibowitz's current situation illustrates this clearly.

You can find The New York Times article For Annie Leibovitz, a Fuzzy Financial Picture by Alan Salkin by clicking here.