Music is all I do for a living. Just one band, nothing else. I used to work for an electronics engineering firm before this, and I loved my job there, but I had to choose. I can always go back to what I was doing before but hopefully I won't have to for a while, and by then, I'd rather take my electronics background and apply it to the music industry in the form of product development/manufacturing etc., from my experience as a touring/recording musician.
I've had to make major trade-offs for music though. None of my friends in smaller bands can make the kind of commitment I made to do this. I stripped my life of many important things, an almost complete lifestyle change. I harbor almost no debt. The band pays for my apartment rent, my cell bill, and I'm on a monthly allowance when we're not touring. All my gear, except for my Friedman Marshall, and a couple of my guitars, were free from endorsements or provided by the band. I don't really pay out of pocket for much. The amount of money I get to save is more than I was able to save when I had a full time day job after all my bills and expenses.
Part of it is being able to change the way I network from being a douche bag band guy. Most gigs I go to, I can get in at the door at no cost, girls/cougars/crazy fans, buy me drinks. I get clothes and stuff from clothing companies that have deals with the band etc.
I have a new record being released in the U.S. this Fall through EMI that will be supported by intense touring, and our last record just hit the shelves in Japan! I have to get my passport in order.