Money Management Tips For Escorts

Working as an escort has its fair share of advantages. These include making more than the average worker, VIP treatment by clients, luxurious gifts, and being treated like a celebrity. However, one major drawback is the uncertainty of the income and fluctuations of this profession.

One day you have a wealthy client who loves to shower you with tips, and the next day he decides to get married and stay committed. But if you learn to manage your money, you have nothing to worry about. Earning money is hard, and your hard-earned money certainly deserves better management!

TIP# 1 Set Aside an Amount for Your Necessities

If you want to start managing your money, you should first make a list of the necessary expenses. There is no doubt that as soon as you get stacks of cash from your client, you would want to buy yourself a gorgeous outfit or get your hair colour changed. But, you do not want to spendthrift spontaneously and then find yourself unable to pay the necessary bills by the month-end.

Start by making a list of all the expenses you incurred in the past two months. Cut out all the expenses you could have survived without in that list. When you start making a list, you will be surprised to look at all the huge amounts you have been spending on unnecessary things and will have an instant urge to amend your spending patterns.

After you cut down your wants, it will be easier to make a separate list of needs. This list includes the expenses you have to pay every month, no matter what. The necessary items will include rent, food and bills.

Before finalizing the list of things you need for survival, see if you have cheaper alternatives for the necessary things and then calculate the total cost needed for the necessities every month. Set aside the budget and 10 percent extra for those things.

Tip# 2 Make a List for Discretionary Expenses

After you have made a list and set aside the amount for your needs, the next thing to consider is spending on your wants. This amount will cover your trips to movies, friends' birthdays, outings and dinners. It will cover all the spendings other than necessities.

You can check your bank statements if you are unsure how much you spend on your wants. If you notice spendings you are not satisfied with and expenses you could have avoided, it's about time you change your spending pattern.

For instance, if you notice spending a huge amount on gifts you have given to friends or luxury dinners, you'd know how to manage money in a better way. This by no way means you have to stop spending on the things you like altogether; this just means spending sensibly on the things you like so you can later spend on the things you love.

You can still go out for dinners and give gifts to your friends; you just have to make sure the cost is not as high as previously. Next time you could give your friend a scented candle rather than a branded bag and could eat out two times a week rather than every day.

TIP# 3 Make Sure Your Service Charges Cover Your Costs

As an escort, there are some things you have to spend on to make sure your service is splendid. The essential spendings of people working in other professions are significantly different from sex workers. Of course, one cannot expect a corporate worker to spend as much on condoms as escorts.

Often escorts forget to consider the expense they have to put in to satisfy their clients. These expenses include the cost to cater for your client in incall services ( meals, champagne) and cost incurred in outcall services (petrol etc.).

Apart from the services, costs that are often ignored by escorts are the shimmery dresses they have to wear, the gorgeous makeup they have to put on, and the stunning hairdo and other costs on their appearances they have to incur before meeting clients. 

To earn a better profit, ensure that all such costs are covered in the service you profit from. The profit you want to earn will vary majorly on your goals, experience and saving patterns. However, no matter your profit goal, the first thing is to cover all the expenses you incurred for your client.

Tip# 4 Invest In Long Term Beauty Products

As discussed earlier, escorts have to spend a good amount on their dressing and stunning looks. A sensible approach will be to cut the costs you spend on your dressing by investing in products and dresses which will help you long term.

Buying 10 outfits of good quality is much more favourable than buying 20 different outfits for 20 different clients of cheap quality. Buying stunning outfits that you can reuse and wear for multiple clients will save your costs to a great extent.

It is also recommended to invest in one good cleanser and moisturizer, rather than concealers to cover your pimples. If you find yourself spending a lot on your blow dries, you can also consider keratin or any other thing that is better for the long term. (Of course, after consulting your hairdresser). The winning factor is to stop recurring costs on beauty products and invest in long-term self-care.

TIP# 5 Calculate How Much You Have to Make

The beauty of working as an escort is that it is distinct from all other careers. But, all careers do have their pros and cons. Unlike most professions, escort work does not guarantee a fixed salary. Whatever amount they make depends solely on how much services they provide. As a result, escorts must track how much they must work.

It is important to consider the cost of your needs and wants. The total amount you need for the month is 4000 pounds. That means you would need to make 133 pounds a day(4000 divided by 30 days). Depending on your service cost, you will have a rough idea of how much you have to work every day to make that amount (133 pounds)

However, dividing your expenses by 30 days means you have to work and make money every day. It is a good technique if it makes you more motivated, but you can try other ways. For instance, you can divide money every week.

Tracking how much money you need to make weekly will mean you have to make 1000 pounds every week. Hence, you can make the amount by working 5 days and taking off two days a week and vice versa.

TIP# 6 Track Your Spendings

There is no denying that the escort world is fancy! You might have elite clients whose lavish houses you often visit for outcall services and reach the destination in luxurious cars. Such fancy encounters can impress anyone and lead them into spending carelessly on luxury. Having such clients is a cherry on top of your income(extra tips, expensive gifts), but you should remember to be cautious in your spending.

It is essential to track your spendings to avoid giving in to the urge to spend recklessly. You could do tracking daily, every alternate day, or every week. It depends on what works for you. 

Keeping track of your spending will give you a sense of responsibility before you splurge. If you make lists of whatever you spend on, you are more likely to keep the budget in mind rather than avoid it. Tracking your spending is always better! After all, you can avoid the thought of your thrift but cannot avoid its consequences.

You could use the traditional way of tracking; for example, you can keep a diary to record your transactions. You could also use technology and install tracking apps on your phone to keep track of your expenses.

Tip# 7 Save First, Spend Later

Do you have a dream destination you can't seem to save enough for? Do you have an eye on a gorgeous but expensive dress? Like everyone else, you must have your bucket list that you want to tick off. But, achieving your expensive dreams is extremely hard if you rarely save.

One common mistake amongst many people is they spend first and save later. People believe they can spend on whatever they want and save whatever is left at the end of the month. A smart escort will not follow that route and plan for big things instead.

Save for the goals you wish to achieve by the end of the year. Say, for example, you wish to buy a new phone by the end of the year. Allocate its cost to each month's savings. This way, you will save a certain amount before spending your income. In other words, you will save first and spend later, which is a brilliant way to manage your money.

Tip# 8 Have an Emergency Fund

Usually, when a worker gets sick, they can call in sick while still benefiting from a stable income. Benefits such as holiday pay and sick pay are alien concepts when making a living as an escort. Hence, being sick as an escort means being unable to provide service, which means no income at all.

The working fundamentals are different in the escort profession, but at the end of the day, we are all humans at equal risk of getting sick or getting hit by an unforeseeable event. Hence it is crucial to have an emergency fund set aside for unfavourable circumstances.

It would be best if you remembered that emergency funds are not the same as your savings account. As discussed before, savings are for achieving the goals on your bucket list, not for emergencies. 

Ideally, your emergency fund should be enough to cover your 3 months expenses. Of course, saving that amount will take some time, but eventually, you will get there. Having an emergency fund will save you from hassles and debts.

Tip# 9 Know Who to Trust with Money

Money, money and more money! Greed is something that takes over the best of us. Managing your money better also means not giving in to any scams. Nowadays, several companies and people are using technology to lure people into their fraud by promising more money. Stay safe from such frauds and do not trust everything you see on the internet.

It is only natural that you want to invest and use your money efficiently, but do extensive research before you invest. 

It would help if you also were cautious of the scammers in the escort industry. You will come across many new people when it comes to escorting, some genuine ones and some fake ones. You can come across people who will be fascinated by the money and tips you get from your clients. For example, if they read good reviews about you on Toronto Escort Reviews and know you are in demand, they can ask for your financial help. Giving out loans that others might never return can seriously impact your financial goals, so when it comes to money, do not trust easily!

Tip# 10 Cut Yourself Some Slack

Saving money is a lot like dieting. If you do not have cheat days now and then, you might become too starved (exhausted) and give up on your goal altogether. Being too harsh on yourself in terms of money management can also frustrate you, and you might end up getting a burst and spending too much.

That's why it is necessary to cut yourself some slack at times (but not too often!) and spend on something you are craving and can afford.

You can always have cheat days and cover for them later. Hence, if you had a cheat day where you drifted apart from your financial goals, you could compensate for it with no-spend days. As the name suggests, you could choose a day where you refrain from spending anything to make up for all the splurging.