Money Saving Tips For Cam Girls

Camming is an occupation that often results in fluctuated earnings week to week. This happens to just about every model and it’s something you need to consider. It’s common for webcam models to mismanage their money. 

Sure, it’s understandable that saving and managing money can be hard, but it is not impossible. Spending all those hard earned dollars seems like fun today, but it’s not a good idea. 

Today I’m going to share some tips that will help keep your finances under wraps and hopefully boost your savings account as time progresses. 

You need to be thinking about preparing for the future today – not tomorrow. If you’re smart with your money, you’ll find it much easier to avoid the end of month scrambles when it comes to paying bills. I’ll cover a few different approaches depending on your financial situation. 

Basic Money Saving Plans For Webcam Models

The first plan or approach I’ll be covering is what I refer to as the survival plan. This plan is for those struggling to make ends meet. It’s for models making just enough money to cover their typical expenses.

The costs I am referring to are rent, mortgage, utilities, food and other unavoidable monthly payments. With this plan, you’re not going to be able to save a ton, but every little bit counts – trust me. 

The Basic Plan

If you’re on the basic survival plan, then you’re likely not going to be able to save a lot of money. The objective here is to save what you can with the end goal being saving 10% of your income. Let me break this down for you…

Let’s say you earn $100 during a private chat session with a CamSoda user. You’ll want to save $10 from that $100 for future use. This sounds like a small amount of money, but even $10 will help you build up your savings account. 

These savings overtime will increase and the interest earned on the account will help it grow as well. That’s the most basic level of responsible money saving out there. 

Where Should Your Money Go? 

For those curious about what they should be spending money on, this is a simple breakdown for you. Again, it’s simplified so it may apply to most models.

50% – This is the amount of income that you should be putting towards essential expenses. Things that fall under this category are: 

• Food
• Rent/Mortgage
• Car/Transportation
• Utilities

Basically, half of your money should be spent on essentials required for living. If you’re spending it on expensive bags, fancy shoes, and watches, then you’re doing it wrong. 

It should go without saying that each person is unique and their “essential” costs may differ from yours. You get the point though I think. 

20% – This is the percentage that should be going towards financial debts outside of essentials. Things like student loan payments, credit card payments and things of that nature. 

Allocating this spending should help you get ahead financially and beat down those non-essential debts that keep you up at night. 

10% – About 10% of your income should be going towards savings. I mentioned this already but I want to reiterate the importance of saving money for a rainy day. This is a must do and you need to always pay yourself before paying others. 

Make sure you save when you can. This means setting something up at a local bank, not just storing money in a shoebox. 

20% – The remaining 20% goes to lifestyle spending. Okay, so maybe this is a bit on the high side, but you only live once and should be enjoying life. 

Many financial experts will probably disagree with me on this percentage, but this is the advice I’m comfortable giving. If you’re working hard, then you should reward yourself with things that make you happy.

The Advanced Savings Plan

The advanced money saving plan is just slightly different and with a strong emphasis on saving. For example, if you’re able to save more than 10% of your income, DO IT. 

This money can be invested in other ways versus just a basic savings account. For those making enough money to cover their survival expenses, financial debts, basic savings, and luxury lifestyle spending, then you’ve got more options to consider. 

For example, you will want to reach out to an accountant or investment firm to find out more about setting up an IRA or 401K if offered by your employer. 

You will also want to think about setting up an investment account on Robinhood where you can invest in the stock market. 

If you’re really making a lot of money, you might want to look into investing in real estate. All of this is dependent upon the amount of disposable income you have after taking care of all your expenses. 

All these actions will basically lead to – FREE MONEY (if all goes according to plan)

I will leave you on one final note. Remember, money comes and goes. What’s most important is knowing how to manage it when it comes, which prevents it from going faster than you’d like.

If you want to make more money, then the first step is to start with a basic model account! This page provides everything you need to know in order to get started.