Lies! All lies!
Seriously though, people make out an art career as far more bohemian than it really is. The key to succeeding financially is looking for the right niche.
In other words, don't expect to make big bucks if you only want to study studio painting. But graphic designers and conceptual artists are ALWAYS in demand somewhere. Movies, video games, television shows, book illustrations, comics -- you don't even need to make your own like most manga-kas do, in America they hire several artists just to work on one issue of a monthly comic book. (However, you'll have to have a well-developed style). They need people to do backgrounds, layouts, character designs, poster/merchandise art, you name it. More often than not these are one-time gigs or on a comission basis, but they pay handsomely enough.
If you want to go into art-related fields that are more stable and commercialized, might I suggest graphic design? There are many opportunities for being both self-employed or to work for a firm. Your work could be on billboards, magazines, even on the net. It can involve making layouts, color schemes, custom graphics, or your own original artwork. Lots of open opportunities.
Personally, I am an aspiring animator. I'd love to work in 2-D, but I'm also very open to the possibilities of 3D as well. I cannot tell you how many times someone's told me things like: "Oh that field's too competitive. Try something easier", or "Art's not a suitable career. Why don't you do something worthwhile?" Yes, these are ignorant and irritating statements, but take into account that an artist ought to be well-rounded in their field of choice.
I'm currently taking an associate's degree program in "Digital Imaging Technology" which covers everything from basic graphic design, photomanipulation, layout and printing, sound and video editing, flash and 3D animation, website design, and portfolio management. They also have a good work-study program, too. And after I'm finished here, I'll get my BA in either animation, general art, or telecommunications at a 4-year university. That way my priority is to do what I love, but I won't run out of options for a more "practical" career path should things not go as planned.
So never let anyone tell you that your aspirations aren't good enough. With some careful planning, you can find many things to do in a field you enjoy. Besides, the only Person with any business telling you how to live your life is God.