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Thread: An Interesting Way to Save Money

  1. #1
    Veteran Member LilyAnderson's Avatar
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    Default An Interesting Way to Save Money

    Today, I had a brilliant idea.
    Most of my income is from clips4sale, MFC, and chaturbate.
    I don't really use Streamate that often, usually only an hour or two a day.
    So instead of receiving a paycheck every week, I set my minimum to $10,000.00 on there.
    That way, I still continue to work every day, make a bit of cash, and one day,
    a 10,000.00 check will come my way when I don't expect it.


    Thought I'd share my little thought ^-^


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    Default Re: An Interesting Way to Save Money

    Daaaaaaaaaaaaamn. Lol I love the idea and immediately though I would use MGF for this purpose, but I don't think I could hold back from cashing out!! I'd probably reach like... maybe $4k max, and then want to cash out! XD It'd be so exciting though to not cash out until something like $10k!!!




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    Default Re: An Interesting Way to Save Money

    Quote Originally Posted by Incantatious View Post
    Daaaaaaaaaaaaamn. Lol I love the idea and immediately though I would use MGF for this purpose, but I don't think I could hold back from cashing out!! I'd probably reach like... maybe $4k max, and then want to cash out! XD It'd be so exciting though to not cash out until something like $10k!!!
    I'd be to scared to do it. On MGF, anything 50+ I cash out immediately.

    They'd just like...ban you and take all the money $.$ Buncha assholes!

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    Default Re: An Interesting Way to Save Money

    This sounds like an excellent tactic, for your very consistently working camgirl, in theory but I can't help but feel that a part of me would be paranoid that the higher the earnings got, the more likely something could happen to the site or the account (flagged/banned/etc) that could completely screw me out of nearly $10,000. I don't want to get into too many specifics because it's technically heresy but a similar situation happened to a close friend of mine and a few other camgirls, using Kink Bomb. It wasn't over that much money (maybe a few grand?) but it was enough that it ruined the business of a few girls, fucked their pay extremely, and is one of the main reasons I won't touch Kink Bomb with a 10-foot pole. You have to remember that the site is looking at your earnings, too and while one would think "why would they fuck a model out of payments when she's the one making them money?!", this industry thrives on the impulsive greed of the site owners. All it takes is one douchebag whom you don't even know exists and you'll never see to decide to sabotage your entire business, just because he can. It's knowing full-well that there are far more users and money-makers than just the one model saving $10K, so who cares if she raised hell about her lost cash for a couple of months, gives up, and then goes away forever?

    I would save a couple grand maximum, on a site, and stick to a bank. If you want to be really smart, just have the money routed into a money-market/ROTH IRA account and contribute to your liquid retirement fund.
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    Default Re: An Interesting Way to Save Money

    Quote Originally Posted by CanadianRuby View Post
    I'd be to scared to do it. On MGF, anything 50+ I cash out immediately.

    They'd just like...ban you and take all the money $.$ Buncha assholes!

    O_______________________________________O


    Fuck...

    Has anything like that actually happened on MGF?




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    Default Re: An Interesting Way to Save Money

    Quote Originally Posted by Incantatious View Post
    O_______________________________________O


    Fuck...

    Has anything like that actually happened on MGF?
    I have heard stories.

    I know one girl from Tumblr mentioned the other day they they banned her before Christmas along with several other women. Apparently near x-mas they give girls the boot because that is the time of year they need money the most......

    Suppose we'll have to wait and see if that happens! They pull some shady bullshit there though.

    Like, deleting all of the models comments recently in several threads in the forums. Comments about the chat not working, site glitches, problems......

    Instead of answering us, they have ignored any comments from the models in the forums for the last months ever since they added in that stupid sidebar feature on our profiles @ "You might also like".

    I know their wiki page 'says' if something were to happen with their account status, that you would still receive your money - but I know if your account is temporarily unverified, you cannot cash out and get your money....so I don't know what to believe.

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    Default Re: An Interesting Way to Save Money

    Semi-related, more as a gentle warning I suppose.

    Back in 98/99, or somewhere thereabouts, yet another in house cam site had opened up out in Hollywood. Cool - some of my friends who I worked with at various other cam sites decided to check it out. So, we start working there during our off hours from our main site, going in for anywhere for 4 - 8 hours at a time. We got paid an hourly wage, plus paid for any private shows we did. By the time two weeks rolled by for paycheck time, several of us had accrued enough hours and shows to be expecting checks in the 2k range.

    Wellll... we all show up on Friday, and the main guy who is in charge of paychecks is not there. We get told that he is still down in Texas, and will be at this location tomorrow, and could we show up then? A lot of grumbling was heard, but we agreed to show up then - what else could we do? They did not have the money to pay us on site, and the office manager had nothing to do with our payments.

    Show up the next day, and - you probably guessed it - nothing. Turns out that since the site had taken off so well, and we were bringing in the bucks, that the guy ended up taking all of the money we had earned, plus all of the money that the investors had dumped in to the site, and spent it. All of it. Close to a million, is what we found out, The guy went nuts - spending it on limos, super expensive restaurants, strippers - all in the name of "business expenditures". All of the money was gone. We never saw a dime of what we should have been paid.

    I never did find out what happened to the guy exactly. I just know that some of us were a little.. peeved. I remember one girl straight picking up the office fax machine, and walking out with it. Sucked, because that check would have paid for a car I was getting at the time.

    In this business, you never know when companies like these will go under, or what will happen to them. Sure, the ones who have been around for years are more likely to be trustworthy, but even then I have seen some twists and turns even with the most "solid" of adult related companies. This business is on the proverbial fringe, so fucked up shit can happen at any time.

    I would just proceed with caution. It is, however, a good idea for saving.


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    Default Re: An Interesting Way to Save Money

    Quote Originally Posted by vivianbear View Post
    If you want to be really smart, just have the money routed into a money-market/ROTH IRA account and contribute to your liquid retirement fund.
    Great idea. The thought of SM earning interest while they hang on to your hard earned money...No bueno.
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    Default Re: An Interesting Way to Save Money

    I agree with the ladies above, if u wanna save do it on ur own using bank services and all, dont trust cam sites.

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    Default Re: An Interesting Way to Save Money

    I would never do this. you don't know if u r going to get banned suddenly and lose all ur cash. cam sites can just suddenly ban u for no reason and not even tell u why.

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    Default Re: An Interesting Way to Save Money

    It does sound good and it feels amazing just to imagine that 10k paycheck coming your way one day, but I agree, I wouldn't do it. I would be a nervous wreck the entire time.

    You never know what the future holds, for example, I got pregnant and was so sick throughout the first trimester that I couldn't work at all. Now one site I worked on won't let me back in, they didn't say why, I just don't show up on the site at all and when I emailed them about it, they said "unfortunately they can't let me back this time". I wasn't away for that long. They can do anything, it's their business, anyone can be replaced in a minute, however scary and sad this may sound.
    I'd rather trust my bank! However, if you decide to try it, good luck, and I do admit, it does sound tempting

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    Default Re: An Interesting Way to Save Money

    I used to do this (not quite that high though) but now I'm way too scared that something will happen to my account (banned, site goes down, etc). I just send different site paycheques to different bank accounts. Example: my clips4sale money gets deposited straight to my savings account, my kinkbomb money goes to the bank account I use to pay rent & bills... That way the money is IN my possession so I don't have to worry about the sites having problems, but it's already split up and allocated to different accounts so that I can easily save money.


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    Default Re: An Interesting Way to Save Money

    As someone who has been in the cam business since 2003 I think this is a BAD IDEA for one of the reasons the girls stated. You NEVER know when a site is going to shut down and then you cannot even get your payment.. I suggest learning more self control and discipline, Open a money market account and put a few bucks a day in it.. Play a game with yourself.. Not with these cam sites.. they are sooooooooooo unreliable.. the very first cam site i started on was called CAMANIA.. I made 100 bucks and awaited payment they shut down and never got paid. It's a wonder I am still in this business it has happened multiple times.

    Quote Originally Posted by LilyAnderson View Post
    Today, I had a brilliant idea.
    Most of my income is from clips4sale, MFC, and chaturbate.
    I don't really use Streamate that often, usually only an hour or two a day.
    So instead of receiving a paycheck every week, I set my minimum to $10,000.00 on there.
    That way, I still continue to work every day, make a bit of cash, and one day,
    a 10,000.00 check will come my way when I don't expect it.


    Thought I'd share my little thought ^-^

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    Featured Member HaydenBlue's Avatar
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    Default Re: An Interesting Way to Save Money

    Yeah agree with not holding that much, at any website. Have it in your hands and invest/save it in a savings bank like smartypig.com where you are insured !

    Plus wouldn't a random 10k check or deposit be a HUGE red flag to a bank????? It's not like your getting regular 10k checks all the time - they'd side-eye you so hard.







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    Veteran Member LilyAnderson's Avatar
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    Default Re: An Interesting Way to Save Money

    Maybe I'll make the amount lower, to around 2000.00 instead of 10,000.
    I'm COMPLETELY and UTTERLY against using a bank other then depositing my check and withdrawing it RIGHT AWAY. (I used to work at a bank. All a bank account is, is a figurative number. Sure, you have 50,000 in your account? Try withdrawing it when you need it. You won't be able to.)
    Literally I usually only have 10 bucks in an account. Nothing more.
    I keep all my cash in my own safe

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    Veteran Member LilyAnderson's Avatar
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    Default Re: An Interesting Way to Save Money

    I'd LOVE to watch everyone with a bank account try to withdrawal all of their cash. The banks would fail. The central banking system would fail. Go underwater. And then, would be a shitload of angry, angry people.

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    Default Re: An Interesting Way to Save Money

    Quote Originally Posted by LilyAnderson View Post
    I'd LOVE to watch everyone with a bank account try to withdrawal all of their cash. The banks would fail. The central banking system would fail. Go underwater. And then, would be a shitload of angry, angry people.
    What you're describing is called a "bank run" or a "bank panic". It's one of the major contributing factors in the Great Depression so I think we already know what that would and could look like. It's also largely a self-fulfilling prophecy that pulling all of your cash out of banks protects you from a banking crash/crisis which really only happens when you panic and pull out all of your cash. I'm not quite sure what you're ultimately trying to protect yourself from but hey, whatever. All I know is that there are plenty of other vehicles to contribute cash to that gain interest (the whole point of having capital is that it produces more capital) besides just your typical BofA savings account. But if people prefer to have their money just sit there and be money (rather than make you more money), go for it.

    I do find it a bit ironic that the chick starting the thread about how "brilliant" it would be to keep literally all of her earnings held within the most unreliable, most untrustworthy means (via the site earnings) one could possibly imagine is somehow utterly opposed to utilizing a basic, insured, liable savings account. I mean, even a safety deposit box is better than an at-home safe. Your house could burn down with cash you can't even prove existed. Again, hardly the road i would travel but hey, it's your future. :/
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    Default Re: An Interesting Way to Save Money

    ^^^^ This. A thousand times this.

    Seriously, you can either keep your earnings in cash, or assets (car, property, jewelry, etc) OR you can keep your earnings in a theoretical "holding cell" - bank, building society, stocks, bonds, or simply accruing on a site.

    I can absolutely understand a dislike for using banks, and preferring to keep your money in your hand - although that way, you lose out on interest, lose out on the credit that would allow you to purchase assets (mortgages, car loans), and can end up paying more in taxes (as keeping money in a tax-free savings account can save you a bundle).

    However, if you are going to keep any money in non cash-asset form, a bank is a much smarter move than keeping it on a camsite. Like others have said, you risk the site going under, being banned and losing the money - all those risky things. On top of which, depending on how you receive the money, you could draw unwanted attention to yourself. Suddenly running 10K through your bank account is going to raise some eyebrows at the bank, and possibly at tax time - especially if you are usually cashing small checks each week. And if you are running it through a payment processor - e-wallet, payoneer, etc - some may have issues with a transaction that large.

    If I was going to do something like that - I would open a separate bank account with a higher interest rate and a requirement to give notice before withdrawing any amount. Then I would just wire it directly and let it accrue.
    I take cash, debit or credit. I just don't take shit.


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    Default Re: An Interesting Way to Save Money

    Well?? the money you have in the bank they loan out for car loans , and mortgages etc etc to other people.

    Quote Originally Posted by LilyAnderson View Post
    I'd LOVE to watch everyone with a bank account try to withdrawal all of their cash. The banks would fail. The central banking system would fail. Go underwater. And then, would be a shitload of angry, angry people.

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    Default Re: An Interesting Way to Save Money

    Well there's two ways to look at it.
    Sure, the site could technically "end."
    The site could technically "ban" me for "no reason."

    But those earnings that were made previously before the site ending need to be distributed regardless unless they would like a lawsuit from everyone that has worked on the site.
    Considerably, I wouldn't put a minimum amount on the account if I was prone to breaking the rules and had a liable reason of getting banned.

    Just a thought though. You say these accounts are "gaining interest."
    Interest does not exist. Interest is simply a made up number made up from some guy that "provides interest" to accounts that are over $10,000.00 and so forth. Which, therefore means, you aren't GOING to withdrawal that money. You aren't going to touch that money, most likely, therefore meaning the bank has more money to pay back the interest loans that the central bank has to offer.

    The reason I am so AGAINST interest and banks is because this economy is SHOT because of it. The central banking system cannot work unless there is debt distributed to other banks. The banks owe the central bank that distributed the cash to begin with with "interest,"
    therefore "offering interest" to those who deposit a large sum of money into the bank that they "cannot touch." Because the money is figurative.



    This was just a simple thought. I did make adjustments to the first thought and decided it would be better off to make the minimum amount lower, to around 2,000.00 like I said previously.

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    Veteran Member LilyAnderson's Avatar
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    Default Re: An Interesting Way to Save Money

    I appreciate all of the warnings and feedbacks.
    Thank you guys.

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    Veteran Member beauvoir's Avatar
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    Default Re: An Interesting Way to Save Money

    I was banned on AW once (they reinstated me after we sorted it out) and all the money I hadn't withdrawn was stuck. I got it back when I was reinstated, but knowing that potentially I had lost it made me hyperventilate. Now when I hit a certain amount, I withdraw.

    When I try to save, I take it and put it straight into a savings account without touching it.

    If someone breaks into your home, or there is a fire or something, that money is lost and it's uninsured so you cannot get it back. Regardless of what you think about banks or building societies, there are better ways to invest money that keeping it in cash.

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    Default Re: An Interesting Way to Save Money

    Well everyone already said what I would have said about it being a bad idea....

    So why not just set it lower and deposit it into a savings account? That way you can also earn interest. There's A LOT more contributing to a shot economy than using banks and banks charging or paying interest....


    Edit: sorry I didn't read the entire thread word for word before I posted... Of course if you try to withdraw $50k it might take you a day or so for the bank to have that much money in that one location, but you COULD do it. And yah, if EVERYONE tried to withdraw all their money at the same time, it wouldn't work. We've seen this happen.

    But the chances of going to your bank and NOT being able to withdraw your money are a lot less likely than allowing 10k to build up in a cam site and then something happening with the cam site and you never seeing the money again.
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    Default Re: An Interesting Way to Save Money

    she won't use a bank and i understand why, i won't use one either for other reasons besides the ones previously stated..just be sure its very safe, in a VERY well hidden lock-box that's fire proof lilyanderson! have you thought about investing it? because it loses its value just sitting there

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    Default Re: An Interesting Way to Save Money

    Quote Originally Posted by LilyAnderson View Post
    But those earnings that were made previously before the site ending need to be distributed regardless unless they would like a lawsuit from everyone that has worked on the site.
    In theory yes, but the amount of time that a lawsuit takes to be filed and to be won is not as short as you my think. (I was in a relationship with someone who worked for Microsoft for the whole lawsuit about them being a full-time employee thing.) Plus if it is a class action lawsuit you are not guaranteed to get your money. We were both living in Europe at the time so they told him that because he was not going to be in the country during the time of the court ruling he would not receive any of the settlement.

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