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Microstock Photography Forum - General => General Stock Discussion => Topic started by: Pixart on October 29, 2007, 11:07

Title: How often do you collect your earnings?
Post by: Pixart on October 29, 2007, 11:07: My intention with this poll is less about your need for cash, but more about your faith in the stability of the agencies. I know that some here have lost earnings when an agency has collapsed. Often the Internet won't allow me onto a site or two and I think "Oh no, I shoulda cashed out when I had the chance!" And earlier in October some were worried about delayed payouts from a certain site.

I've also heard that some full-timers treat their stock earnings like a payroll.

Myself, I normally collect "what I can" at the end of the month, but now that we are in busy season and earnings are somewhat higher, I wonder if I should cash out "when I can".
Title: Re: How often do you collect your earnings?
Post by: fotografer on October 29, 2007, 11:10: I usually collect earnings about once a month but not necessarily at the end of the month. Sometimes don't wait a month if I have bills that need paying.
Title: Re: How often do you collect your earnings?
Post by: ludesal on October 29, 2007, 11:19: Twice a month. :)
Title: Re: How often do you collect your earnings?
Post by: maco0708 on October 29, 2007, 11:24: I didn't even vote because I don't fit in any category.

I don't need my earnings since I have enough money in my account so I try to cash out when I have at least $500 to minimize the impact of the transaction fee from moneybookers. And also I try to "catch" a good exchange rate so I get more money from the overly weak dollar.
Title: Re: How often do you collect your earnings?
Post by: sharply_done on October 29, 2007, 11:37: I cash out once per month. I usually request my payments on the 21st or 22nd so that the money will be in my bank account by the end of the month. It bothers me that I can't get my SS money until the first week of the following month.
Title: Re: How often do you collect your earnings?
Post by: berryspun on October 29, 2007, 11:38: Whenever it reaches $100.
I also appreciate the professional approach of SS with their monthly automated payment.
Title: Re: How often do you collect your earnings?
Post by: madelaide on October 29, 2007, 17:37: Although I chose the first option, I don't actually collect earnings "as soon as...". I wait a bit until I have money from other sites to collect and make a good enough amount to transfer from MB to my bank account. Right now for instance I have more than US$50 at FT, but I'm waiting a bit to get IS and StockXpert pay-outs too.

Another aspect I consider is in StockXpert and BigStock, where they pay whatever we have in credits as we ask for a payment. In other sites I may have 120, ask 100 and leave the 10 to help make the next payment closer, but in BigStock and StockXpert I don't have that choice.

Regards,
Adelaide
Title: Re: How often do you collect your earnings?
Post by: pr2is on October 29, 2007, 17:44: With the way USD is dropping - as soon as I can. Each day makes it cheaper si am better off taking it ASAP.
Title: Re: How often do you collect your earnings?
Post by: a.k.a.-tom on October 29, 2007, 18:04: Usually as soon as I hit the magic number...
Title: Re: How often do you collect your earnings?
Post by: Tomboy2290 on October 29, 2007, 18:39: I collect whatever I can at the end of each month into paypal. I might let it sit there for a while praying that our dollar might go down against the green back before I can't resist any longer and transfer it out. At the moment the aussie dollar is buying 92 cents american and thats really putting a dent in my profits >:(
Title: Re: How often do you collect your earnings?
Post by: pixelbrat on October 29, 2007, 20:50: I didn't choose any of the options because there really isn't much rhyme or reason to my payouts. It really depends. Sometimes I will just leave my earnings in there as a pseudo savings plan and cash out when I reach the amount of whatever I'm wanting to buy. I usually only do this for big-ticket items. It seems to keep me honest and prevents me from dipping into the pot, so to speak. Then there are times when I cash out as soon as I hit the magic number.
Title: Re: How often do you collect your earnings?
Post by: Bateleur on October 30, 2007, 02:29: Quote from: madelaide on October 29, 2007, 17:37
Although I chose the first option, I don't actually collect earnings "as soon as...". I wait a bit until I have money from other sites to collect ...

Same here. I chose the first option, because it was about the closest to the way I do it. But none of the options really fit my pattern. Sometimes I take out as soon as it reaches the limit. Other times (like now) I will take out from several agencies all at the same time, then let the earnings build up side by side in each of them to see how they compare.
Title: Re: How often do you collect your earnings?
Post by: leaf on October 30, 2007, 03:56: i keep it as a bit of a pay roll and cash out once a month
Title: Re: How often do you collect your earnings?
Post by: kosmikkreeper on October 30, 2007, 07:41: Once a month for me as well. Usually the 1st of every month.
Title: Re: How often do you collect your earnings?
Post by: mattb on October 30, 2007, 09:40: I try to time them so I get them around the same time, hopefully before my credit card bill, seeing as I've already spent the money. :)
Title: Re: How often do you collect your earnings?
Post by: madelaide on October 30, 2007, 16:15: Quote from: pr2is on October 29, 2007, 17:44
With the way USD is dropping - as soon as I can.

BTW, wasn't FT going to increase prices exactly because of the difference between USD and EUR/UKP? USD lost value even against the Brazilian money! :o

Regards,
Adelaide
Title: Re: How often do you collect your earnings?
Post by: Peter on October 30, 2007, 16:26: Weekly. (fotolia).
Title: Re: How often do you collect your earnings?
Post by: snoozle on October 31, 2007, 10:29: Quote from: pr2is on October 29, 2007, 17:44
With the way USD is dropping - as soon as I can. Each day makes it cheaper si am better off taking it ASAP.

I'm hoping that the dollar won't keep falling against the pound so am trying not to draw any at the moment. Hopefully I'm not being unduly optimistic or
it may soon be $100 for a loaf of bread the way the exchange rate is going.
Title: Re: How often do you collect your earnings?
Post by: Lee Torrens on October 31, 2007, 13:04: Once per month provides the efficiency of 'batching'. Unless you have a compelling circumstance, there's no point doing something twice if you can do it once.

As for the currency, I'm lucky in that I spend money on other things in USD and can usually pay directly from PayPal. This way I'm partially hedged against the currency fluctuations.

If you operate in a currency other than USD, have the USD currency added to your bank account. Most banks will do this, and if not, find one that will.

This gives you three advantages:

1. You can earn interest on your money while it's still in USD

2. You can take advantage of the bank's better exchange rates (always better than PayPal and Moneybookers)

3. You can wait for the foreign currency cycle to be in your favour before exchanging your money. Even if you need to have your money right away, you can leave a little behind each month so when the dollar finally bounces back you'll be able to take advantage.

Of course there are always complications with personal situations, but you can potentially save yourself a fair percentage of your earnings by doing it this way.
Title: Re: How often do you collect your earnings?
Post by: pr2is on October 31, 2007, 14:53: Good in theory Lee. In real life, Paypal will not allow you to link other than CAD currency account in Canada. I have USD account and wasn't able to use it for linking/withdrawals.
Title: Re: How often do you collect your earnings?
Post by: Lee Torrens on October 31, 2007, 19:22: Bugger! I thought I was on a winner there. I'm going to petition PayPal! ;)

Thanks for letting me know.