This is my first posting on THINQon, so please be gentle!
I agree with Linda in that I am not really sure that "living like an artist" is the only way that your career (or the way you generate income) could be part of your wider life. I imagine it must be very rewarding if the two are congruent, but that it would be easy to persuade yourself (and others, like family) that your "artistic" endeavours are more important than buying groceries or doing the school run. So, as with many things, moderation is probably the key.
Personally I find it preferable to keep my work and home separate (something like Wemmick in Great Expectations, although hopefully not quite to the same degree!).