Turning Debt Into Opportunity Podcast Por arte de portada

Turning Debt Into Opportunity

Turning Debt Into Opportunity

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 BOSSes Anne Ganguzza and Danielle Famble tackle a crucial and often uncomfortable topic for voiceover professionals: money and debt. Prompted by Danielle's recent experience with an unexpected studio investment due to a flood, they delve into whether voice actors should go into debt to fund their careers. This episode explores personal relationships with debt, strategic financial planning, and the importance of financial literacy in building a sustainable voiceover business. They emphasize distinguishing between impulsive spending and calculated investments, advocating for a data-driven approach to financial decisions. 00:00 - Anne (Host) Hey bosses, Anne Ganguzza here. Are you ready to take the next step in your voiceover career? At Anne Ganguzza Productions, I specialize in target marketed coaching and demo production that gets you booked. If you're thinking about elevating your performance or creating an awesome demo, check me out at anneganguzza.com. 00:21 - Speaker 2 (Announcement) It's time to take your business to the next level, the boss level. These are the premier business owner strategies and successes being utilized by the industry's top talent today. Rock your business like a boss a VO Boss. Now let's welcome your host, Anne Ganguzza. 00:40 - Anne (Host) Hey everyone, welcome to the VO Boss Podcast. I'm your host, Anne Ganguzza, and you are here with the Boss Money Talk series, and I am here with Danielle Famble. I am so excited, Danielle. It's been so long I feel like it's been an age since I've spoken to you. Hey. 00:56 - Danielle (Host) But it was just last month. Yeah, I know it hasn't been that long, but it's good to be back. 01:01 - Anne (Host) Yay, and you know talking about. One of our favorite subjects is money, money, money, money. And speaking of, I noticed you're in a sparkly new booth there, oh, this whole thing it looks like a. 01:12 - Danielle (Host) Studio Bricks. To me this is a Studio Bricks One Plus booth and I've had it for a little while now and, yeah, it's great. 01:23 - Anne (Host) Well, having investigated those studios myself, I do know that's quite an investment it is quite the investment. 01:31 - Danielle (Host) It is an investment that I took quite a long time to get to. It was not an impulse buy, but it was a purchase of necessity. 01:41 Sad news is my apartment flooded and I lost my previous apartment and also booth along the way, and so it was time to get a new booth, and I knew exactly what I wanted to get. Is there insurance for that sort of thing, like for my apartment? And so it was. My previous booth was reimbursed essentially the cost of that booth, but it was not. It was a less expensive booth than this one, obviously, so there was a delta that I had. 02:16 - Anne (Host) So you do have. Yeah, so you did. You did have some, you did have some recovery money for that but you know, it, it. It poses an interesting question. You know you, it seems to, I did yes voiceover talent. Or should you know people that want to get into the voiceover industry go into debt to pay for something like a booth or to pay for their entrance into the industry? I think that would be a good topic to chat about. 02:54 - Danielle (Host) Yeah, that's really interesting. I mean, you hit the nail on the head for me. Obviously, my apartment flooding was an unexpected expense, so therefore, the emergency fund really came to be used for its intended purpose. And I you know that's a really good question, because not you don't always have the money to go after the necessities of your dreams. You know, a booth like this is quite a big investment, or even things like your demos or your equipment microphones, coaching, all of those things. 03:28 It costs quite a bit of money. I, because of my personal experience with debt and getting myself out of debt, I am pretty debt averse, so I choose to have my emergency fund pay for the things that are knowable expenses when it comes to building a life and building a career. That's what I try to do. But I can see a reason why there are ways to use debt to your advantage if you know what you're doing. But for me personally, I try to not use debt, especially if I know that something big is coming. Obviously I didn't know that I needed to get a studio bricks, you know when my apartment flooded and also moving and those kind of costs that were incurred and the stress of it all. I was living in a hotel for three weeks because I did not have a place to live. So obviously those things you know. If you don't know and you can't incur those costs because you can't predict it then debt is a tool that can be used. 04:31 I'm just debt averse, and so I try to use other tools before utilizing the lever of debt. But what do you think, Anne? 04:39 - Anne (Host) Yeah, I mean, I think really, it a lot of it has to with and we had talked about this before if you have any type of money blocks, if you grew up with a certain set of beliefs about...
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