In this week’s episode of the pre-LDI Artistic Finance podcasts, host Ethan Steimel and I sit down with lighting and visual production designer Kat Borderud for a deep dive into the financial journey of a touring lighting designer and programmer. We caught Kat when she was on tour with the music trio Khruangbin. They were playing at The Factory in Saint Louis, Missouri when we chatted with Kat, who shared insights on managing the ebb and flow of rates, balancing financial priorities, and networking within the live events industry. Here’s a recap of the interview.
Money as Energy
Kat reframes financial thinking by viewing money as energy—something that flows and returns based on how we navigate life and careers. It isn’t something to beholden to but just a part of how society moves. This perspective removes the taboo pressure around discussing money. “You put energy out there, and it finds its way back to you,” she says, reminding freelancers to embrace financial discussions openly rather than letting them become mental roadblocks.
Setting Rates
In a freelance career, setting rates is a moving target. Kat has a flexible approach, balancing her rates based on the nature of the project and the budget at hand. While she might accept a less than ideal rate for bands she loves working with, she looks to other gigs with consistent payrolls or higher budgets to balance her income. This approach underscores that earning isn’t solely about “following the money.” It’s about finding the balance between financial goals and aligning with people and projects that resonate with you.
Red Flags and Knowing When to Walk Away
Kat pointed out a red flag when negotiating fees. When a client pushes back on your fee, it often signals a mismatch in budget expectations. Kat emphasizes not to take it personally if an agreement can’t be reached; step back without hard feelings. Trust your instincts and recognize when it’s prudent to pass on an opportunity that doesn’t meet your needs—both financially and creatively.
The Importance of Lighting in Live Events
Reflecting on the live events industry, Kat reminds us that lighting is an important and necessary part of live events. As such, there are well-paying jobs for the professionals who make it happen. For those entering the field, her advice is simple, start by finding a job in the industry that puts you near where you want to be. Work, learn, and earn a living, and from there look for opportunities you want to take. Exploring basic production jobs or niche roles can serve as stepping stones to a career in lighting or wherever you want to be in the production industry.
Invoicing and Tracking Payments
Kat’s take on invoicing was a reminder that tracking finances is an ongoing task. “That’s just how it is as a freelancer,” she notes. Invoicing and following up are essential parts of running a freelance business, and staying organized ensures you get paid for the work you put in. Freelancers don’t have an external system to keep account of invoices and payments, so remember to track your payments.
Big Financial Obligations: The Mortgage Mindset
Taking on a mortgage is a major commitment, and Kat sees it as a motivator. With a home loan comes the responsibility to keep working at a level that supports that financial obligation. Kat’s pragmatic view adds a layer of accountability and aligns with her belief in maintaining balance between financial needs and wants, especially in lean times.
Investing in the Future
Kat emphasizes balancing present needs with future investments, whether that’s setting aside part of a paycheck for retirement or building assets that may increase income later on. Putting aside today’s earnings to fuel tomorrow’s growth.
Learning on the Job
Finances are a journey of trial and error, for all freelancers. Kat’s learning curve is ongoing, recognizing that growth comes with experience and adjusting strategies over time. The freelancing life is filled with lessons, and adapting to them is part of building a sustainable career.
Military Upbringing and Nomadic Life
As a military brat, Kat’s background naturally complements her career as a touring lighting designer. The constant moves from base to base during her upbringing carried forward to the nomadic touring life in entertainment.
Recognizing Burnout
Kat stresses that everyone has their limits, and it’s crucial to find a personal balance. Taking time off might feel counterintuitive in the fast-paced world of live events, but it’s a necessary step for longevity in the industry.
DIY Finances and Taxes
Kat handles her own taxes, which gives her a clear view of her spending and helps identify potential adjustments. Yet, she also consults an accountant to make sure she’s on the right track—a solid reminder that you don’t have to go it alone.
A Home as a Retirement Plan
A home may not be everyone’s idea of a retirement plan, but Kat sees it as a valuable asset that can offer financial stability down the line. Owning a home brings options, whether it’s reducing monthly living costs in retirement or having a property to leverage if needed.
Giving Back and Growing Together
For Kat, networking is as much about helping others as it is about personal growth. She believes in supporting those who show up to learn and take their place in the industry. Her advice to newcomers is to take on production jobs, even in a places as obvious as the rental shops because that’s where the tours get built. That is a place to learn the gear, materials, and building techniques that will be used out on tour.. Working in rental shops offers practical knowledge and opens doors to future opportunitie
Whether it’s learning to manage money, setting boundaries with clients, or finding a balance between income and personal satisfaction, Kat’s insights are valuable for anyone navigating the live events industry.
To listen to the interview, visit artisticfinance.com/170bonus
Kat will be part of the Women In Lighting session at LDI on Sunday, December 8, at 4:00pm: 4:00pm: Growing The Culture Of Women In Lighting
Want to listen to a LIVE recording of Artistic Finance at LDI? Join us on the 8th and 9th at 11 a.m. for LIVE recordings!