Tech Tools for Tunes: Financial Apps Every Music Artist Should Know

Managing your finances as a music artist can sometimes feel like a juggling act. Between tracking gig payments, organizing royalty distributions, paying for equipment, and saving for future projects, it’s easy to get overwhelmed. Thankfully, technology has your back! With the right financial apps, you can simplify money management and spend more time focusing on what you do best – creating amazing music.

Here’s a list of must-have financial apps for music artists that can transform the way you handle your money.

1. Mint – Budgeting Made Easy

Managing your budget as an indie artist has never been smoother. Mint is a free app that helps you track your income, expenses, and savings goals all in one place.

• Automatically syncs with your bank accounts to provide real-time expense tracking.
• Lets you set spending limits for categories like gear, software, and rent.
• Sends helpful reminders so you never miss a bill or spend more than you planned.

It’s the perfect app for musicians who need to get organized without spending hours crunching numbers.

2. Wave – Simple Invoice Management

Whether you’re invoicing for a private gig, a music lesson, or a session recording, Wave is a lifesaver.

• Free to use with no hidden charges.
• Lets you create professional-looking invoices and send them directly to clients.
• Tracks payments so you know when it’s time to follow up.

Wave also offers expense tracking and basic accounting, making it an excellent all-in-one tool for indie musicians running their business.

3. SoundExchange – Tracking Your Royalties

Streaming services and online plays can be a major revenue stream for many artists, but figuring out where your money is coming from can be a headache. That’s where SoundExchange steps in.

• Helps you collect royalties from non-interactive streaming services like Pandora, SiriusXM, and internet radio.
• Offers transparent reporting so you can see how much each platform contributes to your earnings.
• Gives you easy access to claim royalties that might otherwise get lost in the shuffle.

If your music is online, you need a tool like SoundExchange to ensure you get paid for your work.

4. YNAB (You Need A Budget) – Taking Control of Your Money

YNAB isn’t just a budget app; it’s a money philosophy. This app is perfect if you’re looking to take your finances to the next level.

• Encourages you to assign a job to every dollar you earn, ensuring you’re saving and spending purposefully.
• Helps you prepare for irregular income streams, so quiet months don’t catch you off guard.
• Offers detailed reports to help you analyze financial patterns over time.

While YNAB comes with a small monthly fee, its accuracy and comprehensive features make it a worthwhile investment for serious artists.

5. Qapital – Automating Your Savings

Saving for that dream studio upgrade or a self-funded tour can be hard, but Qapital takes the stress out of the process.

• Allows you to create specific savings goals (new guitar? Mixing console? Tour fund?).
• Automates savings through “rules,” like rounding up your purchases and saving the spare change.
• Offers helpful insights into your spending habits.

Qapital is like having a virtual piggy bank that works in the background while you focus on your creative projects.

6. Evergreen – Royalties and Publishing Made Simple

Evergreen is specifically designed for independent artists and music professionals. It’s a royalty management app that ensures you’re getting paid what you’re due.

• Tracks music publishing income, royalties, and licensing fees.
• Simplifies data from multiple sources (like Spotify and Apple Music) into user-friendly reports.
• Acts as your virtual accountant for managing the business side of your music.

Evergreen’s focus on the music industry makes it a standout tool for artists looking to stay organized.

7. Acorns – Investing for Your Future

Being a musician means thinking long-term and preparing for the future, and Acorns makes this super easy.

• Lets you invest spare change from everyday purchases into diversified portfolios.
• Requires no prior investment knowledge, making it beginner-friendly and stress-free.
• Helps you build wealth over time so you can fund future music projects or simply save for a rainy day.

Acorns is especially great for artists who want to explore long-term savings opportunities without spending hours studying the stock market.

8. Splitwise – Simplifying Shared Costs

Collaborating with other people often means sharing costs, whether it’s studio time, gear rental, or meals on tour. Splitwise makes dividing expenses ridiculously easy.

• Tracks shared spending and calculates who owes what.
• Sends handy reminders, so you never have to awkwardly chase after payments.
• Integrates with payment platforms like PayPal to settle debts in just a few clicks.

With Splitwise, you’ll spend less time on awkward money talks and more time creating art as a team.

Final Thoughts

Financial management doesn’t have to be a burden. With the right tools in your pocket, you can stay on top of your earnings, plan for future expenses, and even save for your dream projects. These financial apps are tailored to meet the unique challenges of a music artist’s life, giving you the freedom to focus on your craft while ensuring your money is working just as hard as you are.

Start with one or two apps that resonate with you and your workflow. Once you see how much simpler managing your finances becomes, you’ll wonder how you ever lived without them. It’s time to harmonize your tunes and your wallet!