Maria Bamford gets personal (about) finance
Planet Money
Deep Dive
Why did Maria Bamford decide to give away her $10,000 commencement speech fee to students?
She felt guilty about negotiating the fee and decided to give the money away to students in the audience to help pay down their student loans as part of her speech.
How did Maria Bamford's financial transparency philosophy develop?
Her philosophy developed after decades in a Debtors Anonymous support group, where she learned the importance of full financial disclosure and practical financial tips to manage her finances effectively.
What was Maria Bamford's net worth as of the podcast episode?
Maria Bamford's net worth was $3.5 million, a figure she openly shares with anyone who asks.
What financial advice did Maria Bamford receive from her Debtors Anonymous group?
She was advised to write down all her expenses and debts, create a pressure relief group for accountability, and treat herself to something nice, even while in debt, to maintain a balanced life.
How did Maria Bamford's pressure relief group help her manage her debt?
The group helped her find affordable housing, secure temp jobs, and address specific obstacles like getting dressed for work, all while ensuring she maintained a sustainable financial lifestyle.
What is Maria Bamford's approach to financial transparency in her career?
She practices open book accounting, sharing her financial details publicly, including her net worth, earnings from shows, and even the payments she makes to her employees and collaborators.
How has Maria Bamford's financial transparency affected her relationships with collaborators?
Her transparency has led her collaborators, like her opener Jackie Cation, to become more open about their own earnings, fostering a sense of fairness and mutual support in the comedy industry.
What was Maria Bamford's initial reaction to being offered $0 for her commencement speech?
She was surprised and felt it was too low, leading her to counteroffer $20,000, which was eventually negotiated down to $10,000.
What role did Maria Bamford's business advisor, Mr. Elliot Cation, play in her financial decisions?
He advised her on negotiation tactics, suggesting she ask for a high number to either secure a significant amount or avoid the job altogether, which she applied during her commencement speech fee negotiation.
How does Maria Bamford handle ticket affordability for her shows?
She offers free tickets to those who cannot afford them, allowing them to email her directly for entry, plus one guest, unless the show is sold out.
- University's initial offer: $0
- Bamford's counteroffer: $20,000
- Final agreement: $10,000
- Bamford donated the money to students to pay off their student loans
Shownotes Transcript