As an entertainment attorney for over 15 years, Ive had the chance to
work with and represent major recording artists especially with respect to the
negotiation of their recording
agreements. In any recording agreement,
the record company will usually pay the recording artist an advance, that is, a sum of money that
is ostensibly supposed to be utilized by the Artist to live on while
recording their album. Unfortunately, some artists spend their advance
unwisely. The following are 10 things
you should not spend your artist advance on (in no particular order).
1) THE MERCEDES BENZ / BMW / CADILLAC CAR DEALERSHIP:
hard to get that record deal and you
deserve to treat yourself but you
dont need to get that brand new
Benz, Caddy or BMW first time out. Get a
pre-owned Benz, Caddy or BMW that
has reasonable monthly payments. Why get the brand new 2007 whip? A lease may be the way to go since you can
probably write the expense off and trade the car in when your album goes
double-platinum. However, if youre
still living with your mom, I suggest you get an apartment first (see #5) and
cab it for a while.2) GETTING ICY:
As Kanye says,
avoid the conflict diamonds and stay away from the jewelry store until
youve sold at least one million records (at
which point, everyone will be giving you free jewelry!) Also, avoid diamond encrusted grillz and
make an appointment with your dentist first!
BAD BREATH CAN BE A CAREER KILLER!
3) POPPIN BOTTLES WITH YOUR WHOLE CREW EVERY DAMN
HUNDRED AND FIFTY ($250.00) DOLLARS on a bottle of anything at a club is just plain retarded. Better to buy your crew a round at the bar.
Your wallet wont leave the club with a hangover.
4) GOING TO THE STRIP CLUB EVERY WEEKEND:
Not only are you
spending money buying drinks but youre also paying for lapdances and still
going home alone!! Can you spell
5) BUYING A HOUSE:
Usually a good
idea but not with your first advance unless record labels were in a bidding war
to sign you and you got a million dollar advance!! In that
case, move to Atlanta
and buy a crib. Matter
of fact, buy two!! Otherwise, get a nice
apartment in a neighborhood thats
on the come up!
6) BUYING CLOTHES & JEWELRY FOR WOMEN OTHER THAN
You got a record
deal and an advance you havent
sold a record yet! Look out for mama and
your kids (if you gotem) but avoid the groupies and golddiggers cause it
cant possibly be that good!!7) BUYING CLOTHES AND JEWELRY FOR YOUR MAN EVEN THOUGH
HE HAS 5 BABY MOMMAS:
wishes she read this before dealing with K. Fed: Can you spell P-I-M-P?? Girl, it cant possibly be that good!!
8) GOING ON A SHOPPING SPREE
Its a fantasy
of most to be able to walk into the priciest store in the city and drop money
like it means nothing. An occasional shoe,
bag, jacket purchase is cool but blowing $20k in one store in one day when you
dont even have an album out yet is retarded!!
9) PAYING EVERYTHING FOR YOUR WHOLE CREW:
Being down with
the crew is a good thing but dont take it to extremes. Its not your job to hire everybody in your
crew or to pay their rent, buy diapers for their kids, etc. Tell them to either keep their day job or to
get one!! This is not Entourage and
you are definitely NOT Vince!!
10) BUYING WEED OR ANY ILLEGAL MIND-ALTERING DRUGS:Unless you have
glaucoma or youre a Rasta, its not a good look.