Stryper Frontman Michael Sweet took to social media on Friday (July 5th) to share his thoughts on a big misconception that he believes fans have about rock stars - that they all "rich and wealthy".
Sweet shared via Facebook, "Music is an extremely tough business. If you're not tough, you'll never make it in this business. Or at least, you won't go far. It takes hard work, disipline and determination. Relentless. Even then, it's not easy. A constant up and down battle of trying to balance everything. Spending money to make money, making money to spend money. Balancing budgets and trying to constantly and continuously makes things work financially. And even if you are very successful, you must still be very cautious and smart. Invest, save, budget. Don't make the mistake of "living like a rock star". Live modestly and think about the future. Success in the music business is seasonal. On and off.
"This is why you must have great management. People who know how to direct you on your path but more importantly, keep you from going bankrupt. Most musicians don't think about finances. They overspend and under save. Eventually you'll find yourself in a disastrous situation. You have to be smart with your success.
"There is also a huge misconception that all rock stars are rich and wealthy. It's all relative to what you invest (time, effort, labor) back into it but it's really not a 'big return' business. The pay off for me is to get to do what I love! That's my return! Regarding finances? I'm blessed to have a smart wife and great management so I don't spend all my money on guitars and amps But at the same time, we don't make a lot comparatively. For the time and effort we put into everything it's probably less than minimum wage to be honest.
"What's my point? If you're in music or getting into music - Be smart. Be wise. Be frugal. It won't be an easy journey or a smooth road. You will feel bumps along the way and even fall into some deep holes (wondering how you will get out). If you have a calling on your life and you know that you're put on this earth to bless people with music, never give up. Never stop. Keep investing back into that calling and you will be blessed for doing so. You'll thank me later"
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