I'm spending anything over $5k in my bank from now on!

Hey,

This is kind of a personal finances thread.

I don't understand much about money, and I have a tiny tiny bit of it.

Currently I make about 800-1000 USD a month, with exactly 5200 USD cash in bank.. and about $30 in my wallet

I don't know what people do, but I came up with this: Anything over 5k in my account, Ill spend. between investing and living costs, mostly investing ideally..

It sounds too simple, and kinda dump.. I'd like to know what you think of it, or how you organize your money?

If you're asking why 5k in bank, for safety. If I lose all sources of income, I'll stay alive for about 6 months, thats all

It’s better to have savings because in case of emergencies you don’t have to borrow

traffictrappers said:

It’s better to have savings because in case of emergencies you don’t have to borrow

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Yes, hence the 5k

Do you have a website or websites at the moment?

Stoner88 said:

Yes, hence the 5k

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I mean that’s great I did the same at one time but with 2k sit on it until you find something great to do with it. It’s wise of you to have security anyway

polecat said:

Do you have a website or websites at the moment?

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One adult site - when I tested ads it was doing $60/month - took off ads now
One Amazon affiliate, no movement yet
Awaiting delivery of 6 adsense sites from a guy here on BHW

Thats all

Stoner88 said:

One adult site - when I tested ads it was doing $60/month - took off ads now
One Amazon affiliate, no movement yet
Awaiting delivery of 6 adsense sites from a guy here on BHW

Thats all

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Sounds good so far.

Does your current money come from your job?

polecat said:

Sounds good so far.

Does your current money come from your job?

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Yep, all from job

Stoner88 said:

Yep, all from job

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Good well if you have I guess guaranteed wage each month or so lots of possible things you could do then.

You could do this sort of idea keep back $1000 from your saving just in case something maybe goes wrong .

Use the other $4000 into your other websites such as get backlinks such as Guest posts,Niche Edits or pbns.

Why did you take your ads off the adult site?

You can also invest your money in a charity that will benefit others.

polecat said:

Good well if you have I guess guaranteed wage each month or so lots of possible things you could do then.

You could do this sort of idea keep back $1000 from your saving just in case something maybe goes wrong .

Use the other $4000 into your other websites such as get backlinks such as Guest posts,Niche Edits or pbns.

Why did you take your ads off the adult site?

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Job is guaranteed, but it's not like a 100%, could lose it.. That's why I'm too scared to have below 5k in cash

So instead of touching that, planning to spend most of the monthly salary on sites ect

For ads, the site was getting 600-900 users a days, when I added ads rankings dropped heavily.. so decided to wait until it's a bit bigger&stronger, to add ads back

I am Ak said:

You can also invest your money in a charity that will benefit others.

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Think that's donating, not investing lol

Stoner88 said:

Job is guaranteed, but it's not like a 100%, could lose it.. That's why I'm too scared to have below 5k in cash

So instead of touching that, planning to spend most of the monthly salary on sites ect

For ads, the site was getting 600-900 users a days, when I added ads rankings dropped heavily.. so decided to wait until it's a bit bigger&stronger, to add ads back

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Sounds good well the porn site does seem good or at least okay so far you may want to keep the ads on it but maybe for example purposes only have one to max of porn ads on the site for now to decrease ranking drops for now.

If you are concerned about losing your savings or job then keep hold of the $5000 for now but invest your other money into your other sites then go further sales wise in the future or so/

I would suggest you do something like this focus your attention on two sites one your adult one and another Adsense site keep the other ones without you investing in much for now while you focus your attention or money on your two main sites when your money level goes up then you can invest into the other websites.

What are your goals?

Where do you want to be in X years?

Save as much as needed to reach your goals. Enjoy the rest.

$5k? You can buy 10 months worth of cheap marketing.
You also need a product which would be costly in development.

If you are on this forum and think about something else than building business, you are on the wrong forum.

So your next question should be "what type of business". Choose 5. Try all of them and see what is the easiest to go with on the market.

It's sort of trial and error at this point. If you don't do this, you will not have more money in the future.

Simple as that. Get rich or die trying.

It all depends at your age at what stage in your life you are in. If you are still young and have no family responsibilities, your plan is valid.

Stoner88 said:

One adult site - when I tested ads it was doing $60/month - took off ads now
One Amazon affiliate, no movement yet
Awaiting delivery of 6 adsense sites from a guy here on BHW

Thats all

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I would not waste my time with these, but I'm here for 10 years almost!

You can use Amazon to sell, but their affiliate programs are s*it and it's direspectful to do this IMO.

Adsense sites are super hard to build. You can make one mistake, choose a wrong niche and waste all your efforts.

Try one of these: copywriting (not writing blog posts! more like selling with text), programming or in-person sales (i.e. real estate agent).

You should consider growth hacking since you are almost poor, so you need to use some means that will allow you to make a lot in couple following years.

Invest in portfolio. This is something nobody can take from you. Notice you can fake a little bit and quicken building your brand.