Prince Kaybee, the outspoken musician, has wasted no time in sharing his wisdom with fellow artists as the new year begins.
In a recent social media post, DJ Prince offered some valuable advice to his colleagues in the music industry, urging them to steer clear of debt.
Using a clever illustration, Prince Kaybee explained the concept of being technically in debt. He highlighted a scenario where an artist receives upfront payment for six upcoming shows but ends up spending the money before the performances even take place.
According to Prince Kaybee, this situation is akin to chasing future labor with income that has already been reflected. In other words, it’s like rendering a service without the necessary capital to support it.
Dear artist you are technically in Debt IF 6 shows ahead of you have all paid you upfront but you have spent the money already. Its chasing future labour with income thats already reflected, you will be rendering a service without the service capital.
— K A B I L L I O N (@PrinceKaybee_SA) January 4, 2024
Prince Kaybee’s advice serves as a cautionary tale for artists who may find themselves trapped in a cycle of financial instability. By emphasizing the importance of managing one’s finances wisely, he encourages artists to avoid falling into the debt trap.
As the music industry can be unpredictable, with income often fluctuating, it’s crucial for artists to adopt a responsible approach to their finances. Prince Kaybee’s words of wisdom remind artists to think long-term and consider the implications of their financial decisions.
By avoiding excessive spending and ensuring they have the necessary capital to support their services, artists can safeguard their financial well-being and maintain a sustainable career in the music industry.
Prince Kaybee’s candid advice is a reminder that success in the music industry goes beyond talent alone. It requires artists to be savvy with their finances and make sound decisions that will benefit them in the long run. So, let’s take a leaf out of Prince Kaybee’s book and strive for financial stability alongside our artistic pursuits.