{"id":2583,"date":"2021-05-25T11:08:51","date_gmt":"2021-05-25T10:08:51","guid":{"rendered":"https:\/\/www.vivastreet.co.uk\/blog\/?p=2583"},"modified":"2023-09-13T10:09:48","modified_gmt":"2023-09-13T09:09:48","slug":"sex-work-and-managing-finances","status":"publish","type":"post","link":"https:\/\/www.vivastreet.co.uk\/blog\/sex-work-and-managing-finances\/","title":{"rendered":"Sex work & finances: Tips on how to manage your money"},"content":{"rendered":"

Working in the <\/span>sex industry<\/span><\/a> means there can be peaks and lulls in your personal finances.<\/span><\/p>\n

Some months may see an <\/span>influx of clients<\/span><\/a> and revenue, while other periods can be quieter (e.g., during the <\/span>COVID-19 pandemic<\/span><\/a>).<\/span><\/p>\n

But that\u2019s okay. You can help your financial situation by adopting some basic money management techniques to stay afloat.<\/span><\/p>\n

Read on to find out how to manage your finances and stay in financial shape.<\/span><\/p>\n

Find out your monthly income and expenses<\/b><\/h2>\n

The first step to taking control of your finances is finding out, on average, your monthly income. This can involve your salary\/wages, revenue from sex work, and any profits from side-hustle ventures.<\/span><\/p>\n

After calculating your earnings, it\u2019s essential to work out your monthly expenses. This should include everything you spend money on, from your household bills to living costs (e.g., food, clothing, healthcare, etc.) as well as <\/span>work-related costs<\/span><\/a>.<\/span><\/p>\n

Note: You can work out your ingoings and outgoings by looking at your bank statements from the previous three to six months.<\/span><\/p>\n

We understand that your expenses can vary over time. However, it’s important to find out a rough estimate, as it will help you to understand what you\u2019re spending your money on and how you can prevent financial difficulty.<\/span><\/p>\n

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\"Woman<\/p>\n

Budgeting<\/b>\u00a0<\/span><\/h2>\n

Budgeting will help you to keep on track of your finances. The aim is to ensure that your expenses do not exceed your income. In other words, your income should cover all of your expenses.<\/span><\/p>\n

Once you\u2019ve worked out your monthly expenses, you will have a clearer view of where the majority of your money is going and which areas you can cut back on.<\/span><\/p>\n

For example, are you still paying for a gym membership you hardly use? Or are you spending too much money on cosmetics or clothes? Perhaps you would be better off finding cheaper alternatives, like exercising in the park or shopping at less expensive shops, for instance.<\/span><\/p>\n

What are the benefits of budgeting?<\/b><\/p>\n