It's difficult to save money as a cam girl because you never know how much money you're going to make each day. Even the top girls with very high webcam earnings fluctuate in earnings each month. Not knowing how much you'll make each day, let alone each month, makes saving money seem next to impossible. When you have a great day camming it can be tempting to treat yourself and splurge on something fun and frivolous. Unfortunately, with that kind of attitude towards finances, you could find yourself struggling to buy groceries.
If you're smart about your money you can help avoid an end of the month scramble to pay rent. You could even find a way to save your money for long term goals like buying a house, planning for retirement, or starting a college fund for your children. Depending on your income level there are two fool proof plans to save money. The first plan is the basic survival plan. If your camming income barely covers your rent, food, and bills, you won't be able to save a lot, but if you put away a tiny bit each paycheck your bank account (and stress level) will thank you.
50 percent of your income should go towards essentials. That may seem high but once you consider what falls into that category it makes financial sense. Things such as housing, food, transportation, and utilities are all essentials. Obviously each person has different essential costs (i.e. you may live in a location where your rent is cheap but it costs you a lot in gas money to get to work) so adjust accordingly.
20 percent of your income should be put towards financial obligations. That may sound similar to essentials but these are items that will help you get ahead financially versus things you need to pay to survive. For example, paying off student loans, planning for retirement, and putting away money for emergencies are all financial obligations.
bill and you can always decrease the cost of your cell phone bill. Those items are completely personal choices and that's why we put them in the lifestyle category.
1) Buy groceries and make food at home instead of eating out or ordering take out. If you spend $10 on each meal out you're spending $210 or more a week on food. You can reduce your cost of eating by finding recipes that stretch your meals. Think about roasting a chicken on Sunday night and using that chicken throughout the week in burritos, salads, and soups.
2) If you cam from somewhere other than you home try to find a rideshare program to reduce your gas bill. There are tons of programs that help people find rides to and from work. It's good for your wallet and it's good for the environment.
3) Write down what you spend your money on everyday for an entire week. Even if it's a couple dollars on a cup of coffee see where you could save money. That cup of coffee could be made at home for a fraction of the cost of a Starbucks espresso.
If you feel like you're not able to control your webcam earnings on your own speak to an industry friendly financial specialist. There are many financial advisers versed in the adult industry and the financial trappings that come with working in this field. There are lots of resources that can help you budget your money and save up for things as small as a pair of shoes or as large as buying a condo.