My current life revolves around working 2 jobs, some university courses and sports training.
Time is limited as the above schedule combined with necessary life tasks take up a lot of my time (I'm working on time management). So I need to learn to budget time but also the financial side of budgeting is what have questions about.
I have approximately $100 (US) per week to spare after paying for my life expenses. I have stripped my expenses back to the essentials with a focus on clearing debt from loans I got in the past.
I have no lump sum to start with so will still have to save for some time before starting my first venture into AM. Once I do get up and running I have 2 questions.
1) Would I need to save $1000 each time before starting each campaign ? (meaning I could do 1 campaign approximately every 2.5 months ?
2) In the newbie sectio it mentioned having $1000 per campaign and that it takes about 15 campaigns before you get a successful one. I read this to say I'd loose $15,000 before I made a $1 ? Or have I misunderstood that. The reason I ask is because $15,000 would go a long way to paying off some the debts I have with others
thanks for any advice or input.
If you have a lot of debt, I would really urge you to pay these off first. You really need to make very unemotional decisions in AM, and this is hard to do if you are feeling desperate or under tremendous financial stress. It is very easy to become like the guy in a casino who keeps doubling down his bets until he is left with nothing.
As for budgets, it really depends on a whole range of factors. If you are starting out as a true beginner, it will take some time. However, it will not take $15,000. Usually the first few campaigns you will spend say $100 and make $20 ... if you keep on improving, the next campaigns you will spend $100 and make back $60 etc. If you spend even $1000 and you make back 0 then something is seriously wrong.