My Biggest Financial Mistakes (And How They Almost Ruined Me)

I almost went broke twice doing this NYC escorting work. Both times because I made stupid money decisions. Let me save you from my mistakes.

Mistake #1: Spending money like it would never stop coming.

My first few months making good money, I went crazy. Designer clothes, expensive dinners, luxury everything. Felt like I was rich.

Then I had two slow months and couldn't pay rent. Burned through savings buying stuff I didn't need.

Learned the hard way that irregular income requires different spending habits. Now I budget based on my worst months, not my best ones.

Mistake #2: Not tracking business expenses properly.

I was keeping receipts but not organizing them. Come tax time, I couldn't prove half my legitimate business deductions.

Lost thousands in potential tax savings because I was lazy about record keeping.

Now everything goes in labeled folders immediately. Hotel receipts, clothing purchases, health testing, advertising costs. All documented.

Mistake #3: Trusting the wrong financial advisor.

Found an accountant online who seemed to understand sex work. Turned out he was judgy and incompetent.

He categorized my income wrong on tax forms. Made mistakes that triggered an IRS audit. Cost me way more than I saved hiring him.

Get referrals from other sex workers for financial professionals. Regular accountants don't understand our situation.

Mistake #4: Not having emergency savings.

Kept telling myself I'd start saving "next month" when money was better. There's always some excuse not to save.

When COVID hit and work disappeared, I had maybe two weeks of living expenses saved. Had to borrow money from family.

Now I save 30% of everything automatically. Emergency fund gets filled before I spend money on anything else.

Mistake #5: Mixing business and personal money.

Used the same bank accounts for escort income and regular expenses. Made it impossible to track business costs or manage cash flow properly.

Also made banking more difficult when they started asking questions about deposit patterns.

Separate accounts for everything now. Business income, business expenses, personal money, emergency savings. All completely separate.

Mistake #6: Not planning for taxes.

Figured I'd deal with taxes when tax season came. Didn't set aside money throughout the year.

Owed way more than expected and didn't have cash available to pay. Had to work extra just to cover tax debt.

Now I set aside 30% of all income for taxes immediately. Quarterly estimated payments so there are no surprises.

These mistakes cost me thousands of dollars and months of stress. But they taught me to treat escort work like a real business with proper financial management.

If you're making good money in this industry, don't assume it will last forever. Save aggressively and spend conservatively.

Your future self will thank you.