Have You Ever Cashed Out L$ To Pay Real Life Debts?

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Since I'm traveling and nowhere near my bank, I recently went into my SL account to put a block of my Linden Dollars up for sale, to pay some outstanding debts. (For various reasons, doing this was more convenient than transferring US$ from my other accounts.) I thought nothing of it at the time, but as I checked my email to see if the sale had gone through, it hit me: Holy crap, I'm depending on the workings of a virtual economy to cover important real world bills.

I think most SL entrepreneurs who earn a side income of Linden Dollars generally use it for fun discretionary spending. (Or as it's often called, "beer money".) But I wonder how often Residents rely on it for real debts that have serious consequences, if they're left unpaid. (Especially now, when the mainstream economy seems to be performing worse than the virtual one.) What's your experience?

Comments

[Todd Borst]

It's my primary income. You can say it can have pretty serious consequences if I can't, like, eat or pay rent. So far it's been pretty reliable.

[CyFishy Traveler]

I'm getting ready to cash some out so I'll have enough money to cover my yearly Premium renewal when it comes due at the end of this month. (I'm a few bucks short.) Does that count?

The irony of the notion that I'm cashing out the stipend I earn with my membership is not lost on me, by the way.

[Rodion Resistance]

Well back in 2005/2006 I've used some of my inworld earnings to a) pay for a portion of my daughter's school tuition for several months and b) for medical emergencies. This was before I joined a content creation company in Second Life, so I was directly earning L$ back then, and was able to get that L$ out of SL and into our local currency (now I get paid a salary).

[Tateru Nino]

Absolutely. Groceries and mortgages don't take care of themselves, month after month.

[Echelon]

While I fall firmly within the "beer money" category, I have several friends who have fallen back on SL to pay for rent, groceries, utilities.

[adesigner]

SL is my only income to earn a living since 2 years now. I'm working for it 10 hours a day, 330 days a year. I managed to find a legal frame for this activity, and thus am paying real taxes for this income. The hard part was to explain the situation to the fiscal administration employees. There is still no 'I earn my income from SL' check box in their forms ! Recently I moved to another country and had to have LL change my residence country information on my account. It has taken some time, during which I have been unable to process credit. It has been a close one, but it finally unlocked.
I can tell that if, for any reason, I couldn't earn or withdraw money from SL anymore, I would simply have to get back to the unemployment office. Not sure what 2 years living from SL is worth on a curriculum vitae.
So, for me, definetly not 'beer money' :)
( crosses fingers and goes back texturing more clothes )

[Julia Banshee]

Roughly half my income comes from SL these days (the other half from contracting/consulting). It's actually the more reliable half. I don't know month to month if I'm going to get any juicy contracts, but I know my SL business will at least keep the rent paid until the next gig comes along...

[Isadora Fiddlesticks]

I just started doing this recently to help with the reduced income due to the global financial crisis, but I reckon had I done this last year, I could have gotten a head start while the economy is still ok and actually have some earnings. Now I can only get by, and the L$ I get from my work in AVENUE is 50% beer money and 50% for important stuff. Oh well.

[Arcadian Vanalten]

Honestly? Never. Of late, I've been blessed to make more than my overhead as a DJ (rental of a good quality and reliable stream can get expensive), but the cash flow is pretty consistently one-way into SL for me. I plan for about $100 US to spend on in-world activities; surplus that I make is just extra play money for new clothes/skins/toys/whatever, or more often, more cash to fund the activities & expenses of the club I co-own (b/c club ownership is another one of those one-way streets, LOL. Do it for the love of having a good time with good friends old and new; never expect you'll make a dime off it). Extra earnings also tend to become extra cash to drop on other entertainers. But to date, I've never cashed out L$ for any reason.

[satyaranjan]

Hello,
We understand as contractors you work hard to earn your money and therefore we want to help you retain as much as possible. Historically lenders have penalised contractors when it comes to sourcing a mortgage. They see permies as a better bet.

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