Just made $100/day. Should I move out of my mom's basement?

8 years ago

I would advise you to stay in the basement - working your patootie off - until you have saved 6 months worth of

rent (plus any deposit needed on top of that)
utility fees (plus any deposits on top of that)
transportation, if necessary
food and personal expenses

Once you have the hang of it and can create long lasting working relationships, no reason why you can't maintain your income. Give yourself a fighting chance to stay out of the basement once you leave it!

If you can maintain the income - won't take long to save up the money you need.

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Kieran D

8 years ago

Originally Posted by Kay King

I would advise you to stay in the basement - working your patootie off - until you have saved 6 months worth of

rent (plus any deposit needed on top of that)
utility fees (plus any deposits on top of that)
transportation, if necessary
food and personal expenses

Once you have the hang of it and can create long lasting working relationships, no reason why you can't maintain your income. Give yourself a fighting chance to stay out of the basement once you leave it!

If you can maintain the income - won't take long to save up the money you need.

I agree with Kay. You should stay in your Mom's basement until you have some more savings behind you.

Kieran

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Steve B

8 years ago

I'd say it's too early to be taking on a major payment like rent just yet.

If you can continue to make $100/day consistently for 3 or 4 months to prove your method and system you should be OK. But to put a lot of pressure on yourself until you have a proven (over time) system in place, IMO, is creating undue pressure for yourself.

If you're over 25, then get out of your mom's basement now . . . regardless.

Steve

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shaunybb 8 years ago

hey there

I think you should stay in the basement and consistently earn $100 a day for a period of at least six months. A lot of people experience income problems online with the many changes, for example...the google algorithm updates.

I would also try and figure out more income streams, because if this fails and this is your only one then you have no income at all. Provide yourself with many income streams. As much as you can handle of course.

You seem to be doing really well so keep it up, but don't run before you can walk, like kay said also have some savings behind you incase your income dies off!!! Be smart and work smart...good luck my friend!
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- dvduval 8 years ago
  
  Sometimes you decide what you want for your life, and then you simply make it work. Moving out of your mom's basement could be the thing that motivates you too. There have been times in my life where I thought about downgrading because my income had fallen, and sometimes I took that road. But sometimes the stress you get from what would happen if you fail is the very thing that will inspire you to succeed. Choose wisely!
  
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RogozRazvan

8 years ago

Originally Posted by Steve B

I'd say it's too early to be taking on a major payment like rent just yet.

If you can continue to make $100/day consistently for 3 or 4 months to prove your method and system you should be OK. But to put a lot of pressure on yourself until you have a proven (over time) system in place, IMO, is creating undue pressure for yourself.

If you're over 25, then get out of your mom's basement now . . . regardless.

Steve

I have to agree with Steve on this one. If you are a young adult, then you should leave your mom's basement no matter what. Life involves a lot more than IM and not a lot can happen there.

Try AirBnb for a while. It is rather cheap. See if you like the idea. Or get a room-mate, get a dorm room, something in this area. Nobody tells you to go and rent the first penthouse you see but if you are over a certain age, it doesn't serve you not to have your own place.

PS: You should never base your long term expenses based on what you've earned only in a month. The theory is that your rent and utilities shouldn't be more than 1 / 3 of your total income. Assuming that you have at least 3 months worth of rent, food and spending money saved, you can take the leap. You shouldn't listen to strangers on a forum telling you what to do though. It is about your own reasons for moving out. Maybe you want peace and quiet or maybe you want to get laid more often. Find those reasons and then ask yourself what you're willing to do for them.

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Randall Magwood 8 years ago

Originally Posted by Steve B

If you're over 25, then get out of your mom's basement now . . . regardless.

Steve, I'm offended by this comment.

I'm 45 years old, and i still live in my dad's garage....(rent free too! ) Hahaha.

No no back to OP for a second...

Good job on the $100/day. It's a milestone. But don't move out just yet. Stack that paper up, and draw out a plan on how you plan to live on that $100/day when you move out.

Think about an apartment, food, entertainment, even a job (for extra advertising money - or to pay your bills and let your $100/day be your 100% profit), and even a girlfriend. Don't rush. Take your time, and go celebrate at Olive Garden. I hear they serve a mean manicotti (i think that's what it's called).
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- Rory Singh 8 years ago
  
  Originally Posted by Randall Magwood
  
  I'm 45 years old, and i still live in my dad's garage....(rent free too! ) Hahaha.
  
  I agree 100%.
  
  I left my moms home when I was 23 and by 24 I was married and my new bride already had a 'bun' in the ole oven.
  
  The bun is now called Christopher and he is 19.
  
  Yes I did learn how to become 'responsible' and fend for myself. And while I was home, my mom charged me $300 rent from 18 to the age of 23.
  
  That 300 bucks would probably have the buying power of $1,000 or more today.
  
  Now on the flip side...
  
  My mom is now 69 and still working by choice. She is 'old' school and loves working.
  
  But her boss (a multi millionaire) is 45 years old and still lives with his mom.
  
  Go figure!
  
  And if anyone is wandering about ethnicity, her boss is Italian. Almost every Italian that I know personally is doing well for themselves.
  
  We are in a terrible economy but there are some folks who still 'prosper'.
  
  They will prosper because they are 'thinking' differently. Times keep changing and those of us who can not adapt to change will perish or at least suffer.
  
  Kids nowadays are forced to live at home longer.
  
  It's a personal choice 'old' or new school.
  
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StayFrosty

8 years ago

Great advice in this thread that I would like to support. Get your 6 month safety net/emergency fund taken care of first and then (and only then) think about increasing your monthly burn rate by moving out. That should also give you a good amount of time validate your systems and processes to make sure they are based on solid fundamentals and not just limited instance successes. If you stay focused you could probably even grow that $100/day to much more before you hit that date.

Keep up the great work!

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Synnuh

8 years ago

Man, be smart with your money.

I went from splitting $30,000 a month to splitting $500 a month in the matter of 6 months.

I wouldn't plan on moving out for at least 6 months to a year.

I'd make sure I had at least $30,000 in the bank saved up, and was making at least $5,000 a month -- $2,500 to $3,000 a month after taxes and expenses.

Not saying it will, but shxt happens -- I know all too well. Be prepared for it, and it's just another bump in the road, not a complete detour.

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arrival7 8 years ago

Everyone that has posted , has given some awesome advice. Listen to them, and stay in the basement! Keep on working and increase your profits. Best of luck.
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HelpingYouBeAnExpert

8 years ago

Basement is good, stay in the basement for a bit longer till you get it figured out! Don't get loans don't get mortgages etc...

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Jaasper

8 years ago

i think... first of all you have to check that your earning is coming continuously and stable.
Then you should take a decision.
Good luck

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Joan Altz

8 years ago

I say you are doing good enough to give your poor mom a break and move out. Things don't need to be perfect for you to at least try to make it on your own. People have done it with less. Seems clear you have a variety of income streams, and if one of them goes down, you'll work harder on the others and be fine.

Don't be afraid to be a man. Be brave and get going. If all your income streams die, then move back. At least you really gave it a go and your mom will be proud of you for trying, I'm sure.

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Rory Singh

8 years ago

Are you making 100 bucks every day?

And if you did, what would that equal? $3,000 per month?

Here's some advice:

1- Never ask for financial advice in a marketing forum.

2- If you are not as yet paying your mom rent, please start doing so ASAP! If you are, then good for you.

3- Rent or mortgages and the cost of living seems to be 'sky high' right now and the powers to be (people in charge of the world) seem to have lost minds especially lately.

They keep 'increasing' the cost of living but wages are either staying the same or even dropping.

$3,000 is not much to live on these days especially if you live near or in big cities.

Don't make any 'drastic' changes. Remember that old saying?...

A fool and their money are soon parted.

4- Read the book...A Millionaire Next Door.

I am not saying that you are a millionaire by making a hundred bucks some days, what I am saying is this book will help you realize that just because some people have money, they can still choose to spend it wisely.

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Troy Herbert 8 years ago

yeah how old are you? There comes a time when it's just too old to be living at home!
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- Marvin Adam 8 years ago
  
  Don't be too quick with your decisions, the internet changes every day a little so your profits might decrease once more, or hopefully just grow over time - nobody knows. Start saving up some money and look constantly how you can improve your earnings. Then maybe in a few months move.
  
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- daftdog 8 years ago
  
  Originally Posted by Troy Herbert
  
  yeah how old are you? There comes a time when it's just too old to be living at home!
  
  Firstly well done on making and achieving $100 a day.
  
  A few things,
  
  How long have you been getting these days for?
  
  The idea of moving out of your mums basement is good, how old are you, if you are over 23ish you could try moving out and work on your current business as well as creating more income streams(treat it like a full time job and work 7 to 8 hours a day)....and will your mum let you move back in if 'touch wood' it all comes crashing down?
  
  I have never been in your kind of situation as I left home and my country as soon as I turned 18 but I would love to know that If I needed some help that I could go and stay with family, so your are lucky in many ways.
  
  Before you move out you could create a product about your method which would give you a huge cash boost....just an idea...
  
  Anyway I won't write more as I am sure there are many more factors that we don't know about, like your savings, where you live, do you have a girlfriend? (Well to the last question I would guess the answer is no...Girls and Moms basement don't go well together lol)
  
  I genuinely wish you all the best and keep us all updated,
  
  Cheers
  
  Marc
  
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nicheblogger75

8 years ago

I think the OP has found a solid income stream that will probably never dry up. There will always be a need for content creators as long as the Internet exists.

However, that does not mean that your own personal business will not see it's ups and downs. All businesses do. That's why when it comes to making an income online, you should NEVER put all your eggs in one basket.

However, I also think if you wait and wait you'll never get anything done. I agree with the others who have said that you should save up a nice nest egg and then get your own place. If you can save up enough so that if something happened you would be able to maintain your standard of living for at least 3 months with no money coming in then I think that would be sufficient.

BTW, great job at hitting $100 a day. Now set your goal for $200 a day and start working toward that.

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nahid7

8 years ago

You are on a good track, continue that.

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mark112 8 years ago
Sometimes, we can really get funny especially in our quest to be free. However here is what you should know.

It is not about moving out, It is knowing exactly the following:
- Why do you want to move out?
- When you do move out, where are moving into?
- What are the current benefits of where you are living now and what would you lose if you leave now?
- What will you face out there?
- Are you ready for everything you will be facing?
- What really are you planning and what goals do you have for life in general?
WHile there are many other questions to ask, this can at least get you thinking.

"Failure is not fatal and Success is not final" - Zig Ziglar
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talfighel

8 years ago

If you method still makes you $100 per day in 3-4 months, then I would leave and get your own place.

As of right now, save some money so that you have at least 6-12 months of rent.

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Garymgar

8 years ago

How long do you work per day to make your 100 dollars?
Could you get a job with your current schedule if needed?

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EPoltrack77

8 years ago

lol,, instead go for $500 per day! When you can do that constantly then sure why not

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discrat 8 years ago

If you are a grown man over the age of 22 or so you should be out of your Mom's house PERIOD.
Doesn't matter if you have a million dollars or not a pot to pee in.

Go out and scrounge and hustle like every other adult has to in this World !! You will end of thanking yourself down the road.

Sorry, I'm old school and that is how I was brought up.

(And I do apologize if that particular age demographic does not include you)

- Robert Andrew
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Marvin Lex

8 years ago

Stay in the basement as long as you can. One thing is for sure: if you move out to your own flat and experience all that comfort, you can never live in the basement again without having a mental breakdown

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seogurus

8 years ago

I say YES! move out asap lol. Putting yourself in a sink or swim situation will only bring out the best in your creativity and motivation imho.

That's what I did back in the day when I first started out. Yes, it was hard at first but I am waaay better off because of it.

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RS3RS

8 years ago

Online income is volatile. It can change in an instant.

How long did it take you to reach $100/day? Make sure you have enough money saved up to cover at least that period of time before you move out. You never know when something will happen and you'll have to rebuild.

One of the elements of my WISE method (for building a reliable online business) is diversification. If all your money is coming from one (or even two) sites, or if you're relying on just one monetization method, or one traffic source, you're setting yourself up for disaster if you rely on that income alone.

Diversify all of that, and then you're pretty stable.

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irawr

Banned 8 years ago

Originally Posted by The Pharmacist

I'm really glad my daily profits went from $20/day to $100/day in half a year. Earnings are from content writing on freelancer, clickbank, adsense and ebook sales.

Here's the question: should I move out? So how stable in your experience are online profits? Did anybody pass regular 100$/day, thought he is financially stable, and then saw his profits diminish under $100/day?

I'm working from my mom's basement and think now it's really good time to rent a place but I'm concerned my profit will fall down the cliff and I'll have to drag my sorry ass back.

Great, keep doing what you're doing. Try to learn from the people who are hiring you and then start building your own sites. Build up an internet business with the flow of income you have now.

100$ a day is not a lot of money, I spent 500$ yesterday on freelancers and honestly that's kind of light for me.

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04real

8 years ago

Save money. Stockpile your earnings. You'll always have an opportunity to move somewhere 'nicer' later on, but at this stage of your life, take advantage of your situation. Sure, help your family out as well, but do as much work as you can before committing to buying a house (cash or mortgage).

I live on my own but some friends of mine still live with their parents while running their business. There's no shame in living in the basement. Once your greatest work is accomplished and you get your business rolling, you'll open yourself up to a lot of options for how you want to live your life.

(Plus, living in the basement = free meals... no? lol)

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Steven of Polonius

8 years ago

Originally Posted by The Pharmacist

I'm really glad my daily profits went from $20/day to $100/day in half a year. Earnings are from content writing on freelancer, clickbank, adsense and ebook sales.

Here's the question: should I move out? So how stable in your experience are online profits? Did anybody pass regular 100$/day, thought he is financially stable, and then saw his profits diminish under $100/day?

I'm working from my mom's basement and think now it's really good time to rent a place but I'm concerned my profit will fall down the cliff and I'll have to drag my sorry ass back.

Good questions. Regarding stability, I can say I have hit a goldmine in the past that I thought would both last forever and be indicative of the ease with which I could replicate that success in the future only to find out that it was a lucky uncommon break.

Definitely would plan on staying in the basement until you've got multiple avenues of consistent inbound revenue.

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Van Dam

8 years ago

Moving out and getting your own independence is a good idea BUT you have to think things like do you see longevity in what you are doing, I mean is it going to last? Will you continuously make the same amount of money?

I'd say stay where you are for the moment, build up some savings and be sure that the income stream is lasting for you and then make the move.

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sogeshirts

8 years ago

Grind in the basement and build your savings for a year, and then move out.

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reachintan

8 years ago

Do not rent an office until you have a team of people...I am a content writer myself and doing very well without an office...unless I have a team of content writers or other IT technical staff I do not intend to rent an office because then there is no end to office related expenses...

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jasonbw 8 years ago

stay in the basement for a while till you ramp up your income.
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DURABLEOILCOM

8 years ago

Originally Posted by The Pharmacist

I'm really glad my daily profits went from $20/day to $100/day in half a year. Earnings are from content writing on freelancer, clickbank, adsense and ebook sales.

Here's the question: should I move out? So how stable in your experience are online profits? Did anybody pass regular 100$/day, thought he is financially stable, and then saw his profits diminish under $100/day?

I'm working from my mom's basement and think now it's really good time to rent a place but I'm concerned my profit will fall down the cliff and I'll have to drag my sorry ass back.

I would recommend to build a nest egg savings account that would = 12 Months of Rent, utilities, food, and services you will need before moving out.

Most people move out prematurely and end up back in their parents house with more debt.

If you are comfortable in your mom's basement then maximize your income/earnings while saving at the same time.

Take the money you are currently earning and get yourself some nice functional furniture and tech you might need to work harder and continue your growth.

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ContentPro22

8 years ago

I moved out of my parent's house when I was making just $1,000 to $1,500 per month. I got by just fine. That was years ago though (and I was living in an inexpensive city at the time).

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Jake Sacks

8 years ago

If you are doing task based ways to make your money, you will more than likely continue to make this amount. You are not relying on site rankings or anything of the sort.

You can also try to supplement your income somehow as well in another area of marketing.

However, if you make that much you should have no issue moving our of your parents basement after you have saved for a few months.

Just save for 3-6 months, and then move out. You will have a more clear picture on if you will be making at least $100 a day from there, and you will have saved up a nest egg in case the rails fall off.

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fernelis2009

8 years ago

Build your list and take risk, moving on your own is one of those risk you have to take. Brace yourself!

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Just made $100/day. Should I move out of my mom's basement?

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