Prince Kaybee Gives Artists Financial Advice on Spending Income Before Fulfilling Obligations
- Prince Kaybee gives artists financial advice on spending income before they fulfil their obligations
- Kaybee said if six venues pay upfront, and the artist spends the money before performing at those shows, then they are in debt
- His advice resonated with a lot of people who agreed with him and said artists are in debt if they spend their income before earning it
Source: Instagram
Artists going broke or being knee-deep in debt might be eradicated should they follow Prince Kaybee's advice.
Kaybee says do not spend income upfront
Better Days hitmaker Prince Kaybee took to X to share some unsolicited advice to artists about managing their finances. Kaybee said artists should avoid spending their bookings monies before they actually go and perform at the venue.
Kaybee said that if six venues pay upfront, and the artist spends the money before performing at those shows, they are already in debt.
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"Dear artist, you are technically in Debt. If 6 shows ahead of you, have all paid you upfront, but you have spent the money already. It chases future labour with income that is already reflected; you will be rendering a service without the service capital."
Mzansi agrees with Prince Kaybee
His advice resonated with many people who agreed with him and said artists may find themselves in debt if they expend their income before actually earning it.
@PJMoneyMan3k:
"School them."
@FlowVersatile:
"In accounting, different income is not recorded as revenue until contract obligations are satisfied, so that money is a liability until you finish the 6 shows."
@Mlungu_Wajehova:
"I hope they hear you and this is applicable also in general life."
@afripedimedia
"Your first sentence is as obvious as daylight. If I've already spent both December salaries, my January financial obligations are f*d. Rather, offer advice such as don't spend it until you've rendered the service or whatever you deem constructive advice for artists. Don't flex."
@S2Hadebe:
"Wise words but only a few will listen. Financial management is very important, but nobody takes it seriously. Do they buy these expensive clothes in cash, or it's just debts and debts piling up with interest?"
Prince Kaybee shades Mnike
In a previous report from Briefly News, Prince Kaybee said that he doesn't connect with Tyler ICU's hit song, Mnike.
A fan claimed that the DJ/ producer made a remix to the song, to which Prince Kaybee denied the claims, saying he wouldn't consider remixing it."
Source: Briefly News
