For many starting out in IM it can be a struggle. But the real struggle is not making money, its managing the money you do make. For instance, johnny starts out and lets say he makes $300. He gets excited about how easy it is, and he goes out and buys a new laptop! He makes another $300 a few more times, and goes out and puts a down payment on a new car. Then, lets say business slows down a bit, and before you know it, Johnny loses his internet, gets evicted, and loses his nice new car. This type of thing happens to alot of people when they start out because they get too excited. (Trust me. It happened to me once). So below, I will give some detailed tips on how to manage your money when starting out in IM. Part 1 (Living Expenses) You want to first figure out how much it costs you to live each month. So I will list a few examples, then we will add them all up and divide by 30 days to get an average daily expense. Rent =$1000 Internet =$100 Phone =$50 Electricity =$300 Water =$50 Food =$500 Total =$2000 Daily =$67 Part 2 (Dividing your earnings) Your minimum earnings (based on the list above) should be no less than $67. This is how much you need to earn daily, just to live. So now you need to figure out (if you havent already) what you are going to promote. Your magic number is $67 a day. As long as you earn this much, you will be able to survive. Anything over $67 a day would be extra money. Now what we are gonna do below is make up a list of earnings for 30 days and add it all up at the end. $100 $75 $80 $150 $110 $100 $90 $70 $85 $80 $100 $105 $95 $110 $100 $75 $70 $85 $95 $80 $100 $110 $105 $120 $170 $85 $180 $125 $100 $75 Total =$3025 Part 3 (Managing the extra money) Now, for this part, I'm just gonna give a couple of examples of ways you can manage the extra money you earn. When it all comes down to it, you need to manage in the best way that works for you. So we're gonna say that half will go into savings, and the other half will go into investment opportunities. According to the list above, you made an extra $1025 for the month. Savings =$512.50 Investing =$512.50 The reason for savings is obvious. This will assure that you can make it if business slows, or if you lose money on a bad investment, or if an emergency comes up, or many other situations. And the reason for investing is very simple. You invest in projects that will bring you profit (maybe software, stocks, business ventures ect.) I'm not saying that everyone has to follow that exact formula, but this is just to give an example of managing money. If you manage your money properly, you will have more financial freedom in the long run.