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During her 40-year career as a music teacher, Jan Mouser, NCTM, has found that there is more to being an independent music teacher than just teaching. To operate a studio, one needs to wear many hats--financial planner, juggler and motivator, to name a few. Just in time for graduation, Mouser shares her insight with MTNA's collegiate members, both here in AMT, and during the Collegiate Exyo at the 2006 MTNA National Conference.
Wear the Hat of a Financial Planner
* Devise a small business plan.
* Start investing and open an IRA immediately.
* Charge what you're worth, plus a little more--be expensive.
* Whatever your tuition fee, insist on payment at the first of the month or term. Better yet, arrange for the same year-round income each month.
* Invest in disability insurance. You have no sick leave.
Source: HighBeam Research, Things I wish I'd known when I started my piano studio: "hat...