Over the past few months, we’ve witnessed more than a few Chaturbate models score some major tips. I’m not suggesting that all the cam girls on Chaturbate land these big pay days, but most earn a very respectable living by modelling online – the money just materializes over a longer period of time.
But here’s the catch. When you start modelling online, you will experience a sudden bump in disposable income. You’ll probably be earning much more than you have in the past. But do you have the money management skills to make your new earnings work for you over the long term?
Let’s cut right to the chase. Cam girls have a shelf life. Most (but not all) work for a few months, some a few years, then move on to other forms of employment. Do some work as a webcam models over the long term? Yes. But they are the minority. You have some models who work for a month or two, earn enough to cover expenses for six months, then return to webcam modelling when their funds start to run low. Point is, while every performer has a different shelf life, they all share a common trait; the fact that most will earn a considerable amount of money in a rather short span of time. This article is all about helping you make the most of your earnings by reinvesting some of your income into the most important asset of all – you.
If you’re new to webcam modelling, the first thing you need to do with your new earnings is invest in a decent computer, webcam and internet service. You might have started out with hardware and connectivity that just barely made the cut. If that’s the case, now is the time to get some lights, a decent computer and a high quality HD webcam. And most important of all, bump up your internet connectivity to the best available speeds in your area. These initial investments will pave the way to higher earnings, so they really matter.
Once you’ve topped up your equipment and connectivity, it will be time to upgrade your online persona. Two words. Go wild. Load up on the makeup, lingerie and hair styling. Personal grooming really matters here, and when you look good, you’ll feel great. Oh yeah, and make even more money.
So now that you’ve made these initial investments, you’re probably seeing the results in the form of higher earnings. Good for you. Now it’s time to think about the mid to long term.
One thing I love about the internet is how it allows anyone to earn a decent living without having to resort to an ivy league education and the mountain of student debt it entails.
I study at one of the best online schools on the internet. I get to choose from a wide variety of online courses taught by the best teachers in the industry. All for only $25 per month. In just a few weeks, I learned about web hosting and how to create a blog using WordPress. Do you need to be a genius to do this. No. All you need is determination and the willingness to take the first step. Once you master one skill, trust me, you’ll be hungry for more.
So here is my challenge to you.
Sign up for a free 10 day trial over at Lynda.com and make yourself the following commitment – that you’ll complete the WordPress Essential Training course within 1 week. This will accomplish two things.
The first is that you’ll discover just how easy it is to setup your very own blog.
But the second accomplishment is the one that matters. You’ll discover that you can learn just about anything when the training is self paced and delivered by the best instructors in the industry. Not only will you feel great about having learned a new skill, your self confidence will increase and it will be the first step towards learning even more skills and diversifying your income streams.
Does this mean you can stop being a webcam model. Not at all. It just means that when you do decide the time has come to hang up your webcam, you’ll have acquired real world skills that are in demand. In short, a $25 a month subscription to Lynda.com is the best investment you can make for your long term success. Invest where it matters. Invest in yourself!
So far, we’ve discussed very important investments, but they really only add up to chump change when you consider your overall income. What you really want to do is put money aside for the future.
Before I go on, I want to state that I’m not a financial adviser. I’m just a regular guy writing a blog. But I’m someone who takes a long term approach to saving for my future. I’m going to share with you how I manage my money. Because this works for me, does not mean it will necessarily work for you. Everyone has different ways of making their money grow. So having said that, here I go.
I’m no investment expert. I don’t know how to judge one stock from another. So instead of picking individual stocks (with some exceptions that I will explain below) I tend to simply buy a low cost ETF fund that shadows the returns of the S&P 500. I put about $3,000 a year into this ETF then close my eyes. You’ll have some good years. You’ll have some down years. But over time, the economy grows, and so does the overall value of the stock market. Over the long term, this is a great strategy to grow your money.
I also invest in the Vanguard Health Care ETF. With baby boomers entering their golden years, healthcare and pharmaceutical stocks are poised to do very well over the medium to long terms. Like the S&P 500, I threw in $3,000 and closed my eyes.
My next investment is my favorite. I invested $30,000 in about 5-10 high quality dividend stocks. These are stocks that pay a 2.5% to 4.5% dividend every year. Once purchased, they usually earn me about $100 a month in dividend payments. I plan to increase this part of my portfolio until they return a steady $300 a month.
So what do I do with the rest of my earnings? Good ol’ cash in a bank. One with a solid reputation and balance sheet. Never put all your eggs in the same basket. Grow your money, but do it in a diversified way. I invest half my money, and keep my other half in cash. This strategy works for me, and some variation of it could work for you. Just make sure to consult a qualified financial adviser before investing any of your own money.
So there you have it. You’re a successful webcam model. You’re earning decent money, and you’ve got some extra cash to spend. Invest in yourself, your skills and your future. Think of your new found wealth as a springboard to the next level. After all, you won’t be a cam girl forever – might as well start planning for the future now.