In this economy, actors must invest wisely, says Kannada actor Sonu Gowda

April marks the start of a new financial year, and given the film industry’s volatility, even with careful planning, artistes can face unexpected financial challenges like delayed payments and unforeseen expenses,” shares Kannada actress Sonu Gowda. In a chat with Bangalore Times, she speaks about how she manages her money, and shares some tips for surviving in showbiz irrespective of financial circumstances. “Money invested is money earned. Don’t try to put all the eggs in one basket. Branch out, make every day an opportunity to learn new things, and having Plan B can really help in taking the financial burden off your shoulders, especially when working in showbiz,” she shares. Excerpts:
‘Gold is your best friend, always’
I started my career at the age of 17. I did not get paid for my first film Inthi Ninna Preethiya. I started getting paid only from my second film. I had a bank account even before I started earning. So when the money started coming in, I opened a mutual funds account and started investing small. I did my own permutation and combination and studied the market. Back in the day, there wasn’t much information or help available about investments, and we had to go through brokers. I used to ask bank managers about where to invest. Simultaneously, I started buying gold. When I started, gold only cost 2,000 per gram, and today we all know how much it has appreciated. So, as soon as I used to get some money, I would go and buy 1 gram gold coins. Then again, when I wanted money, I found out that they wouldn’t give you loans against coins. This was a very big lesson for me. So I started buying simple gold chains, which I could pledge for money whenever needed. Put your money where it is easier to pull back whenever necessary.
‘Keep your false prestige aside’
There is a false notion among many that an artiste, especially a hero or a heroine, should arrive in a specific costly car, and that they should look rich. I say, keep that false prestige aside. Audience feedback is your biggest reward. Don’t heed the pressure of looking a certain way or owning a specific car just to impress someone you don’t even know. Actors shouldn’t get into this business of wanting to create a false image of looking rich. If you buy an expensive sports car, the minute you take it out of the showroom, its value decreases. This need to look rich itself can prove disastrous in the long run if you don’t plan your finances well.
‘Investments can save you from embarrassment’
We have seen the case of many senior artistes now seeking financial help from other actors or sometimes from the film chamber. Back in the day, the industry was very small and actors were limited too. So, they were under the impression that there would always be work in one film or the other. But I think as the industry grew and more and more people started coming in, reality hit. Take the case of my dad (Ramakrishna, a make-up artist in the Kannada film industry). He used to work for two films at a time in two different shifts. But when he went abroad and returned around the early 2000s, he had no work! That’s when he realised that savings and investments can save you from a lot of embarrassment. Asking for money is extremely uncomfortable for both lenders as well as borrowers as the industry is small. Invest a part of what you earn so when the storm hits, you will have some backup and no dependency.
‘Money, time management are very important for actors’
As we all know, the industry is very volatile, and we got a very big dose of reality when Covid-19 hit. I had a lot of monthly commitments when the pandemic hit, and I went to TV. I don’t understand this mentality of branding artistes as ‘TV actors’ and ‘film actors’. Actors are actors, and it is extremely important to work wherever you get an opportunity. For any actor, money and time management are very important. After Kiragoorina Gayyaligalu, I did not have work for 3-4 months in 2017. I went to Ranga Shankara and did plays. It is so important to keep yourself active when you have no work. Hit the gym, travel, go do something that helps you grow. Just don’t sit idle, and remember, sitting at home and watching films will not help you as an actor. Travel has helped me reconnect with myself and helped me understand what I want and don’t want. My Onthara Bannagalu co-star Praveen used to work in an office the entire night and come and shoot with us in the morning. Yes, the waiting period can be disappointing and discouraging. But use that time to find something that could be your Plan B. Looking for both work and money in the industry can be burdensome and will stress you out. Branching out will help you get that stress out of your head.