In Escort Service, relatively high profits await you if your bookings are regular. This means you can afford one or two luxuries. Nevertheless, the escort service remains a performance-based occupation. Months in which you are rarely booked may alternate with months in which you can hardly keep yourself busy with requests. What does this mean for you?
Let's assume you earn between 1500 and 3000 Euros in a week with three dates. From this value, you deduce a monthly income of 6000 to 12000 Euros. In this model calculation, you already disregard the fact that it can also be more in individual months. Many people earn considerably less. You can be quite satisfied with these values.
At first glance, there is nothing to be said against a little variety between work phases. You treat yourself to a wellness weekend, that great designer outfit and a short holiday with your best friend. Soon enough, the money is spent. But so what? You only live once. Next week the bank account will be full again. And what if it isn't?
Since you are not in an employment relationship, many situations can occur where there is a temporary lack of income.
If you are ill for only one week, you will miss up to 3000 Euros. Longer periods of illness may be covered by insurance to a certain extent. However, the sickness benefit will not fully correspond to your income. In addition, one or two or three clients may fall ill. The flu season sometimes hits hard, so the losses can add up.
Every self-employed entrepreneur must assume that business will not be equally good at all times. Statistically speaking, such lulls are put into perspective over time, but if you don't have any reserves, this prospect won't help you much. Running costs want to be covered immediately.
Force of circumstances
Fate often doesn't want it our way, and therefore both you and your clients may encounter major problem situations that make a date impossible. In addition to minor crises such as poor planning, care gaps (children, pets), traffic disruptions and personal conflicts, natural disasters and accidents sometimes occur that make it impossible to work for an extended period of time. Think of house fires, floods, or even the pandemic that prevented thousands of people from pursuing their employment for months.
The above-mentioned disasters sometimes also represent an extreme of additional expenditure. Fires and water damage are costly. But smaller problems can also cost a lot: the tree that causes roof damage, the broken washing machine or a car accident with a total loss.
Then there are the monthly living costs. At least these can be planned. You can get an overview of your monthly expenses just by looking at your bank statements. If you know what you have to pay for
you have an approximate idea of what income is essential for you. They reflect your minimum income. This is the amount you need to have on hand each month, whether from current income or reserves.
And you should have reserves in any case. The problem situations mentioned above can escalate very quickly. If you have no financial resources, you have no base for promoting yourself. If your electricity is cut off or you lose your internet/telephone access, you will not be able to get new clients.
If you are with an agency and have unpaid bills, you will also be barred from working there. The bills are piling up and the chance of someone granting you a loan under these circumstances is quite low. No job, no money.
How do you prevent such an extreme situation? Well, first you should get a picture of your regular expenses. Your reserves should cover this amount for at least half a year. This way you are covered for the worst crisis situations.
In the rarest cases, these amounts are simply "over". If they are, invest them directly in a form that is comfortable for you. If not, you try to develop a savings plan. Here you can proceed in different ways.
Option A: You set aside the amount you have calculated as the reserve at once.
Option B: You set yourself a time limit (let's say 12 months) and put aside the twelfth part of this amount every month, unless your income does not cover this option in exceptional cases. (Then you add a month at the end).
Option C: Variant C is an extension of variant B. However, you do not stop your savings programme when you reach the required value, but continue to put aside a fixed amount in order to be prepared for all eventualities.
Option D: In addition to the running costs, you set a value for luxury expenses; everything above this is saved. Disadvantage: You will certainly see it immediately - the danger is great with this approach that in a few months there will simply be nothing left at all.
Option E: You set a percentage savings amount. This means that you put aside a set percentage of the money you earn each month over and above your fixed costs, e.g. 50%.
Many claims can be insured against in advance. If you live in a flood area or near a landslide zone, take care of additional insurances. It's a nuisance and involves a lot of paperwork, but it can be a huge relief in an emergency.
Don't underestimate the tax payments you'll have to make at the end of the year. If you make 100,000 euros in profit, you should set aside at least 35,000 euros. These amounts are collected in one go and should then be in your account accordingly.
It is absolutely understandable if you want to enjoy your life in the wake of high earnings. However, as long as you do not have the necessary reserves, you should be critical of higher expenses and permanent decisions.
For example, it is not advisable to choose a flat for more than 2,000 euros cold, if you know that no government agency will pay for its upkeep over several bad months.
Similarly, instalment purchases should be questioned critically. Of course, 500 euros a month for your car doesn't sound much at first. But if, instead of 10,000 euros, you earn only 3,000 euros a month without reserves and your basic costs already swallow up 2,800 euros of that, things will get tight.
As you can see, it's not a matter of constantly doing nothing out of fear of possible disasters, just of consciously keeping an eye on one's finances.
In the case of irregular income, this can also include written cost control. You will have to document your income for the tax office anyway, as well as business expenses. It is therefore no great extra effort to note down your personal expenses in detail. This way you can keep track of everything and, with a little discipline, you are largely protected from unpleasant surprises. Would you like to earn several thousand euros a month as an escort lady? Then apply with us right away.