How do you budget for camming expenses?

[fantasy707]

Do you use a certain set percentage of your checks or what? So i.e. how much money do you set aside for panties, lingerie, bras, tech stuff, etc?

 

[SaffronBurke]

I don't have a set budget, but I also don't find it necessary to buy new lingerie all that often. I started out just camming in tank tops and panties I already owned, and gradually added new things when I wanted to. I'll go anywhere between a month and a year between purchases.

 

[Brianna_XO]

I have read a few times, (cant remember where) that it is advisable to save 10% of your income to re-invest back into your business (aka lingerie, tech stuff)! This is what I plan to do! This might be more useful when you're just starting out and don't have a lot of toys/lingerie but as you build up a collection you might not need to do it as much!

 

[curvyredhead]

I have separate savings accounts for large purchases that I see in the future, this includes work related things such as a new computer or conventions as well as nonwork-related things such as flights to Florida a couple times a year to see my guy. But this is mostly so that it doesn't get mixed up with my "real" savings. I add to it once a month at the same time I add to my "real" savings. Whatever I make over my goal gets split between the two, with the vast majority going towards my "real" savings. If I know the purchase is within 6 months of being made I will set a goal and add to it more generously.

 

[fantasy707]

I have read a few times, (cant remember where) that it is advisable to save 10% of your income to re-invest back into your business (aka lingerie, tech stuff)! This is what I plan to do! This might be more useful when you're just starting out and don't have a lot of toys/lingerie but as you build up a collection you might not need to do it as much!

Thank you for this useful info!! I love having specific algorithims to put into place, since I’m young and come from a family that I cannot trust with career and/or financial advice

 

[AudriTwo]

I have two checking accounts. One I use for short term reserve, while normal checking for the first. I usually like to keep a certain amount in, which is used to budget for any unexpected pricey purchases. I spend maybe $100 every three months on camming related items. I dress pretty casual on cam too, so my camming clothing expenses are pretty affordable.

 

[Minny Minx]

I use a separate debit account for all work related stuff to make saving and doing taxes so much easier. 10% is the standard reccemmonded minimum, if you're able to reinvest more after paying bills do it.
Having a separate account allows you to see your savings for your business which can be useful when planning purchases

 

[Deleted member 43650]

Not necessarily budgeting, but a tip for those who don't know already: SAVE ALL RECEIPTS. Anything you buy that is used for camming or clips can be written off when you pay your taxes. This includes clothing (hell, I wrote off my gym briefs because I technically wear them in clips)! If you're savvy enough, you can even write off a percentage of your rent (sq footage), electric bills, and wifi. I'd save these gray-area things for an accountant, though.

 

[ElaySmith]

Anything you buy that is used for camming or clips can be written off when you pay your taxes.

Be careful with this bc there is a bit of a loophole. Technically if your average everyday person would buy it then in then its not suppose to be written off. For us ladies makeup and lingerie are great examples.... I do write off a portion of those purchases but I don't write off everything per the advice of my tax lady.

 

[sexyvanessa4u]

I don't have a set budget, but I also don't find it necessary to buy new lingerie all that often. I started out just camming in tank tops and panties I already owned, and gradually added new things when I wanted to. I'll go anywhere between a month and a year between purchases.

Same here-I don't buy new outfits specifically for camming very often at all. When I do, I usually get them for cheap at Wal-Mart or Target or online at wish.com. I've made more money sometimes in a hoodie and sweatpants with the hoodie just slightly unzipped to show some cleavage than when I'm dressed in sexy lingerie. It's mostly the freeloaders who ask "Why u so covered up bb?" lol

 

[Lintilla]

Not necessarily budgeting, but a tip for those who don't know already: SAVE ALL RECEIPTS. Anything you buy that is used for camming or clips can be written off when you pay your taxes. This includes clothing (hell, I wrote off my gym briefs because I technically wear them in clips)! If you're savvy enough, you can even write off a percentage of your rent (sq footage), electric bills, and wifi. I'd save these gray-area things for an accountant, though.

You can't write off those briefs. I can't imagine cam models are a high priority for the IRS, so although everyone talks about writing this stuff off, it won't really ever come up, and most will get away with it. But if you COULD wear those briefs in real life (and you did! (even if you didn't)), you can't claim them. You can only claim costumes and costume makeup.

 

[Sillykitty]

If I want something new for camming, lingerie, interactive toy, webcam etc- I will work extra that week to be able to afford it. So whatever my goal is that week, I'll add extra hours until I also make enough to cover my purchase. Then I wait to purchase the item until that extra money is in my account.

As for lingerie, or clothing for camming, I hit up thrift stores for cute stuff to wear, and only get lingerie or shoes if there is a sale or I have coupons. amiclubwear has sales a lot, so does yandi, and I get victoria secret coupons in the mail and have friends save me theirs as well.

I decorate my space from target and 5below, so if i want to spruce it up a bit I'll try to make 100 extra for the week.

For tech stuff, i also shop all the sales. I try to never get anything full price. Both my comp and webcam were on sale. I think the only thing I've paid full price for was a studio lighting set, but that was maybe 50 dollars. When i set a target and save in advance, and make myself wait for the actual money in my account, i know I'm not gonna blow my bill budget, or overspend.

 

[Deleted member 43650]

You can't write off those briefs. I can't imagine cam models are a high priority for the IRS, so although everyone talks about writing this stuff off, it won't really ever come up, and most will get away with it. But if you COULD wear those briefs in real life (and you did! (even if you didn't)), you can't claim them. You can only claim costumes and costume makeup.

Probably should have included that after the "savvy enough". This is certainly a gray area and everyone is right to be wary about it. I paid for a good accountant and do all my adult media through an LLC (legitimate, that is - not trying to imply here that it's anything but). An S-corp opens up a realm of possibilities and a nice reprieve from the good ol' IRS raping that is a 1099. Tax management is 50% of wealth management. I'd say the more you're willing to invest into good accounting, the more you go from "risky loophole" to verified write-off.

But your point is absolutely legitimate and I know not everyone can afford to pay for accountants (which can get very pricy). I mostly spend so much on accounting to protect my actual day job, but if camming/adult media IS your day job, yeah, I wouldn't touch the gray area stuff either.

 

[LaceyRoyce]

I do wanna mention here talking about budgeting for expenses.. for any newbies...

The very first thing you do when you get paid from ANY SITE is you calculate 30% (or whatever your tax rate will be, some states and countries will be higher or lower and your personal situation will vary) and you send that SOMEWHERE YOU CANT SEE IT. A nice little savings account that ONLY exists for taxes is best IMO.

Do not start budgeting or doing anything with your money until that money is set aside for the tax man. Do not do what I did and dip into it like it was a loan account when i started or you'll end up on a payment plan with 40k of IRS debt like this girl over here....

Carry on...

 

[LaceyRoyce]

also gonna throw in a plug for YNAB.. its a software that helps you budget with money you HAVE not money you will *earn* which is really handy for people like us who don't have steady paychecks. It IS a big ole learning curve, but it's helped me track my money so much better (and keep track of expenses for taxes better too)

Basically the concept is say you have $1000 in the bank you give every $ a job to do. So $300 is set aside for taxes, $500 for rent $100 for food an $200 for car loan repayments. Even if your rent is $1000 and you only have $500 to put towards it right now, you can add more to that "pot" when you get paid again or move money from something else but you're NOT budgeting with expected paychecks or 'future moneys" or anything else. If you do it right you'll hopefully end up ahead of the game and you'll be paying important expenses like rent and bills with money you earned last month instead of money you will earn this month.

 

[DJ_Pioneer]

Do any of you budget for pension savings? I think that is something that should be considered if you are camming full time.

 

[LaceyRoyce]

Do any of you budget for pension savings? I think that is something that should be considered if you are camming full time.

yep!

Moving a 401k to a rothIRA or a IRA this month i'm trying to figure out which one is best for me. It seems like a guessing game to figure out which tax bracket i'll be in when im an old lady lol

 

[curvyredhead]

Yes I contribute to my Roth IRA regularly