Some of the most talented and creative people are also the most self sabotaging. They struggle with money not because of external forces but, rather, because of their own lack of judgment. Sometimes these problems mask deeper problems. How many times do we see the artist who makes it big, only to blow it? So what makes some creative people sabotage their success?  I have a few theories.

One is that some creative people have such low self esteem that when they do make it big and get their hands on a lot of cash, they don’t feel they deserve it, so they do everything in their power to squander it.

Some artists just never took the time to learn what to do with money and keep making the same mistakes over and over again.

Som creative people couldn’t care less about money, so that is how they deal with it: carelessly

Finally, many people just aren’t ready to handle their newfound wealth, so they go crazy and blow it all not knowing any better or figuring they will just make more.

Let us look at these and other potential pitfalls in more detail:

•  A day late and money short.  Some creative people who rely on their right brains have no sense of time, so they take on more than they can chew (or do) and end up overcommitted, unable to do the work or do good work – both of which can ruin their reputation and potential for future work.
• She got the ring, I got the finger.  Divorce can be a disaster on many fronts, but monetarily it can become a bigger burden than you ever could have imagined. Don’t just split up – terminate all joint financial obligations. You may be liable for things you didn’t deal with. Money is the leading cause of divorce, with sex being the second biggest factor. Divorce is a legal issue, but it is also emotional. Many divorces start out civil, but when lawyers get involved it becomes a civil war. Couples end up spending more on lawyers and end up with less. When the dust settles the reality sinks in. Now you have to live on less income or pay alimony and child support. Now divorcing from your significant other is  hard enough, but breaking up with a business partner can be even worse. Be very careful who you go into business with
• Careless does NOT equal carefree.  If you haven’t a care in the world, then you aren’t paying enough attention to what is happening around you. If you let others manage your money you still have to pay attention. Blind trust could allow someone to rob you blind.  Another way carelessness can cause financial problems is by not protecting what you own with insurance and/or alarms and locks. You might also get lazy and leave your purse out in the open at work and have money (or worse, your identity) stolen. Maybe you leave your wallet or laptop in the car overnight, and someone breaks in and steals them. This can be very costly in time and money.

ACTION TIME

Your story.   Look at your life and recall all the highs and lows that led you to where you are today. Put these events on a lifeline. If you want, you can put the positive things on one side and the negative events on the other. Next to each event look at the lessons learned and ask yourself what happened, why it happened and what was the end result. Write this next to each event. Then see if you can spot any patterns. What conclusions can you come to about how you handle success and failure and how you make decisions about what to do?