While camming is just about the most atypical job you can have, what you do with the money you earn should not deviate too much from the norm. Yes, you may be earning crazy money each month that you never thought you could, but you still need to be smart about how you spend it and what you do with it.
Camming is different from a “normal” job in this key way, and to be able to succeed and prosper as a camgirl, you need to take it into consideration.
Camming Career has an Expiration Date
Sad, but true: You cannot rely on camming to provide for you until retirement, due to the influx of new (read: young) girls joining cam sites every day as well as your own ongoing satisfaction with the job, which can include a lot of safety concerns as well as burnout. I talk about this more here and I estimate the length of an average camming career to be 3-5 years. Bearing that in mind, even though you may believe you will cam forever, you need to make sure you put away enough money each month to not end up broke and with a huge gap in your employment history if you have to look for other, “vanilla” work.
What are the steps to take to ensure a better financial future as a camgirl?
Have an Emergency Fund
I would first recommend having at least 3-months worth of living expenses saved in a savings account as your emergency fund, and have it be easily accessible, so you can use the money asap if the need comes. Since camming is so volatile, to feel safer, you should put away 6-months worth of basic living expenses, and not touch it unless an emergency comes up. This is basic financial advice that makes sense whether you work a 9-5 job, or cam for a living, though it’s particularly important to follow as a camgirl.
Invest Slowly and Wisely
Once you have an emergency fund, put at least 10% of each paycheck into an investment account to watch it grow. You don’t need to know anything about investing to be able to passively invest your money. One of the best platforms to do it on is WealthSimple that is “set it and forget it”. You can set up automatic monthly contributions to make the process even more easy and passive, and you don’t have to do it with a lot of money, either – even a few bucks here and there will do.
They do the hard work in selecting the right ETFs (exchange-traded funds) for you, and rebalancing multiple times a month, so you get the best return on your investment. It is the number #1 best thing to do for your financial future. Plus, it’s extremely satisfying watching your money grow each day. WealthSimple also offers a High Interest Savings account with rates higher than all the major banks offer. Click below to check out more!
Create a Budget, or At Least Strive to Spend Less
Separate your needs from wants. I know it’s tempting to spend money on things for yourself like clothes, lingerie, new electronics, etc, but you have to be mindful of the fact that your current income level might not last long. You don’t want to be regretting those purchases when you are scraping by without any means to pay for rent or food. You can make a budget in Excel or have a written one in a notebook, but the most important thing is that you try to stick to it and make it a priority to spend money on things that hold their value. Of course, this doesn’t mean you shouldn’t spend any money at all, because it’s nice to treat yourself to things that you’ve worked hard for, but you have to keep the basic math in mind.
There have been too many instances to count where a camgirl gets used to her current income and then suddenly loses her highest tipper, or needs to stop camming suddenly, and has zero savings or anything to show for all the years she’s worked. Don’t make the same mistake, and put away money and invest even a small percentage of your income as early as possible. The financial security you’ll feel will be worth it.
Disclaimer: I am not a licensed financial adviser. The above references opinions and is for information purposes only. It is not intended to be investment advice.