3 Pieces Of Financial Wisdom From Taylor Swift's Billion-Dollar Journey

By the time Forbes released their billionaire list this April, the world and its uncle knew that Taylor Swift was going to be its most talked-about new entrant. Swift, the first artist to reach this milestone solely through songwriting and performing, is a shining example for young people looking to build wealth steadily over time.

Here are the top 3 lessons we can learn from her:

"It Was Mine First": Own Your Work

When negotiations to buy her master recordings from her old label fell through, Swift decided to take matters into her own hands. In the last couple of years, her re-recorded albums have raked up millions of streams, set multiple records, and established new precedents for musical artists to own their masters.

The biggest financial lesson we can learn from Swift is to always, always, protect your work. Never compromise when it comes to your rights over your own creations.  

"Look What You Made Me Do": Make A Plan And Follow It To The Tee

You don't become a pop culture juggernaut and a Forbes-certified billionaire without planning. Swift (and her team) make sure to plan each and every money move she makes. Be it re-recording her older songs, releasing multiple versions of her albums on digital and vinyl, or tying up directly with AMC to release The Eras Tour Movie, each decision is masterfully crafted keeping her best interests in mind.

So, get on the app of your choice (or pen and paper if you're old school), and draft a long-term plan to build your wealth and take over the world.

Don't leave a "Blank Space": Build Multiple Income Streams

Swift began her career as a country music but quickly branched out into other music genres, film roles, selling merchandise and even offering cruise trips. Instead of sticking to one thing, she got smart and found new ways to bring in cash. She took control of her brand and assets, boosting her business power.

You can learn from Taylor’s playbook. Take a close look at what you’re good at and what makes you unique. Then, find different ways to cash in on those skills. Just like Taylor juggles music, merch, and media, you can find multiple streams of income to boost your bank account.

Featured image via Shutterstock.