Fiverr Forum

How Much Of Your Fiverr Income Do You Save For The Future?


#1

We all know that Fiverr is not stable source of income.

So to ensure stability as a freelancer on Fiverr, what percentage of your Fiverr income do you save for the future after paying your bills or other necessities?


#2

I just spend it all ! ahahah

Moved to a new house, new city, living with my girl, so yeah, there is always things to buy, there is no savings!

(Well we’ve a 1000€ emergency saving for some emergency that we will never touch.)

An emergency fund is the first golden rule for stability and to not do silly credits.


#3

leinad4mind

Even though you spend all your Fiverr income on bills, its good to here that you already have 1000€ of emergency funds saved for future so you wont have to worry…

Have you ever consider cutting some of your expenses so that you can save a huge chuck of your Fiverr income for the future too?


#4

Maybe in the future. Right now I’ve too much things to buy yet.
But I’ve thought on that, and after having all the basics things we want for the house, then I’ll keep all fiverr income for paying vacations. Since we both love to travel. :slight_smile:


#5

Saving some for my new car :wink: Fiverr will generate my car money…

I earn around 1k on avg and save half of it… I never have planned what will I do with the money though… But as time passing, I am realizing, I should chalk out some plan… following to see how other freelancers are spending it…


#6

leinad4mind

That is good to hear that you would start a savings plan for your Fiverr income after having all the basic things that you want for your house done…

And yes, the money you save from your Fiverr income can be used to travel the world because everyone loves traveling…

Good luck in all your endeavor


#7

zubairfb

That is good that you spend half of the income you make on Fiverr and you save the rest for the future… You won’t have to worry if you don’t get any client from Fiverr for one month because you already have money saved up…


#8

I’d say I try to save 50%. The thing with Fiverr is that there are good times and there are dry spells so I try not to finish the money from the good times too fast, considering my expenses aren’t a whole lot.


#9

It is vital for freelancers to both create an emergency budget and to plan for the mid- to long-term future. My strong recommendation is that as soon as possible you need to save between three and six months worth of expenses, and also contribute towards longer-term investments like retirement plans.

This is the best way to find financial peace-of-mind as a freelancer, and will save you a lot of stress and anxiety. I save and invest around half of the income I make (both on and off of Fiverr) - originally I put it into an emergency budget, and once I had that in place I spread out any extras among retirement plans, mid-term stockmarket investments, and a couple of other areas.

Don’t forget to put money aside for taxes as well.


#10

daniquegray

That’s good that you would try to save 50% of your income for emergency purposes because there is no guarantee that one would make money on Fiverr every month…


#11

paulmaplesden

That is right all freelancers on Fiverr should save between three and six months for future expenses, taxes and retirement because it would give people a peace of mind for the future…


#12

Hi spends all of money which I earned from the fiverr.but saved the bucks I generated from another platform.


#13

ocean7media

That’s good that you use the money you generate from another platform as your back up plan by saving it while you spend the money you make from Fiverr…


#14

I don’t have enough money to save lol. Still a student, so I guess that’s pretty normal.

It definitely does even out my spending with my earning though.


#15

somaginer1996

That is fine that you’re still a student But, If you live below your means and you don’t use the money you make from Fiverr to party every weekend like most students do, you would be able to save some of the income you make from Fiverr…


#16

I hate how this is everyone’s assumption of what I do as a college student: party and waste my money. I know, millennials are ruining everything. But I don’t work three jobs through the school year just to burn through all my money.

(Honestly, my biggest expenditure at parties is $3 party-size bags of popcorn because I’m more of a eater than a drinker, and that’s only $3 every other week.)

Aside from my phone bills, most of my money goes to plane tickets because I live a long way away from my family. Sure, I might be able to save up a few hundred from Fiverr by the end of the semester (I’m only part-time on here, after all). But when each trip is a few hundred dollars, even visiting once or twice a year will eat up all your money. Hopefully you don’t view that as a waste of money lol


#17

somaginer1996

I partied when I was college. I also over spent my money at bars and clubs every weekend when I was in college…So it not an assumption of what college students do…

But after reading a lot of financial planning and money saving books, I started to realized that I need to cut my expenses in order to save a ton of money because my college years taught me how to mismanage my money…


#18

Well, you said “like most students do”, so I guess it’s a generalization rather than an assumption? :stuck_out_tongue:

Aside from plane tickets, there is very little that I spend money on other than food. I dine out occasionally, but that’s it. I’m a really cheap person lol.

A few $10-$20 meals here and there, and then a few plane tickets that add up to $500 at the end of the year…if only I were one of those people who lived close enough to drive home.


#19

somaginer1996

That’s really good that you’re frugal because you would be able to save money as your fiverr income grows in the future…


#20

I can only hope so! I don’t know if it will grow so much as I’ll probably get a traditional job in the future and work on the side as well (so, still part-time), but perhaps I’ll learn some skills there that I can apply here :slight_smile: