How to Budget Like a Band - Not Like a Hobby

Being in an unsigned band costs money. Rehearsals, travel, gear, artwork, merch, releases - it all adds up. And if you’re not keeping track, it’s easy to lose control fast. That’s when the pressure builds, mistakes get made and progress stalls.

You don’t need a finance degree or an accountant. You need a simple system - and the mindset that your band is a project with potential, not just something you throw money at and hope for the best.

Start by getting clear on what you spend. Sit down as a band and look at the last few months. What have you paid for? Rehearsal rooms, printing, video shoots, petrol, guitar strings? It all counts. Don’t guess - track it properly. A shared Google Sheet or a free app like Splitwise can work wonders.

Then look at income. This includes gig fees, merch sales, streaming payouts (even if they’re tiny), donations, grant funding, anything. Even the £20 you made from that open mic night - track it. You need to know what’s working and what isn’t.

Once you’ve got that down, split your expenses into two types: essential and optional. Rehearsals? Essential. £500 on a music video you’re not planning to promote? Probably optional. This isn’t about cutting corners - it’s about knowing what’s strategic and what’s just draining your wallet.

Plan ahead for releases. Don’t finish a song and then panic about how to afford the promo. Budget before you record. Set money aside for artwork, PR, a music video if it fits, and post-release promo. Same with tours. Work out fuel costs, accommodation, gear hire, and build a plan that won’t leave you broke on day two.

Agree on how you handle band money. Is there a shared kitty? Does one person manage it? Do you split every payment or reinvest everything into future projects? Get clear. Bands fall out over money all the time - don’t be one of them.

And don’t forget to pay yourselves if and when you can. Even if it’s small. Even if it’s just covering your own strings or vocal warm-up sessions. Respecting your time and effort is part of taking your band seriously.

A lot of unsigned bands burn out - not because they don’t have good songs, but because they can’t afford to keep going. But the ones who treat their band like a business, even just a small one? They stay in the game longer. They grow faster. They make smarter choices.

Budgeting isn’t about limiting your creativity. It’s about giving it a better chance to go somewhere.