You recieved your allowance and now what? A bag? Rent an apartment? Take the girls to lunch? Do you struggle with spending sugar money on unnecessary items? A smart sugar baby knows that an arrangement won’t last forever. Make that sugar money work for your future so you don’t have to. Invest in your future and daddy’s money will work for you even when he’s long gone.
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Do you spend everything you receive?
Look around you, in five years what will happen to all that stuff? Likely you’ll donate it and have nothing to show for it.
To grow as a sugar baby you need to take what you are given and grow it! Your arrangement won’t last forever and you need to make an exit plan from the very first allowance.
By writing down a list of SMART (Specific, Measurable, Achievable, Realistic, and Timely) goals you can guide your sugaring money towards achieving those goals.
Watch how you spend your allowance
It is a good idea to take a fraction, that’s right, a fraction of your allowance and invest in creating the lifestyle you need to project to continue sugaring. Maybe you need to update your wardrobe or buy certain beauty products. Whether you go to the salon for a pedicure and wax or paint your own nails and shave at home, there are certain actions and investments in ourselves and our physical appearance that can help maintain a sugar daddy.
Decide what is essential and what you can get your sugar daddy to pay for directly. Then take the rest of your allowance and put it towards your goals. Make beauty investments just one of many goals or you’ll end up going from one sugar daddy to the next with no growth from your actions.
If you find you are spending a lot on freestyling every week, which can drain money on transportation, drinks, and meals, think about cheaper options. Can you get away with sitting at a Starbucks in a wealthy part of town for a few hours? Can you eat dinner at home before you go out? Can you drink water unless a POT buys you a drink? Hey maybe he’ll see you without one and it will give him a reason to approach you? Look for ways you can get the job done, without breaking the bank.
Invest in your Goals
What is important to you? Why are you sugaring? Where do you want to be in 5 years and how will you get there?
You need SMART goals so you know exactly where to put your money as soon as you receive it. Check out this Dessert article for some goal ideas.
Decide how much you will invest in each goal and pay yourself first. Do you want the beautiful coat your bestie posted on instagram? Make that a short-term goal and decide how much you will save for it each month. Need to save for your next apartment security deposit? Make that a medium-term goal.
We often figure out how to pay credit cards after the fact and end up paying interest. Why not pay yourself by putting aside money for certain purchases and earn the interest that comes from loaning our money!
Use separate accounts that auto-deduct from your main account. Don’t let that money waste away in a checking account. Research and find an account that pays interest and put your money to work for you while you are sleeping. Learn about investing so you can escape the low-rate savings accounts. Come visit The Dessert again for our new articles on sugar baby finance.
If you keep cash create separate envelopes for each goal and place your designated amount in each envelope as soon as you receive the money. The downside to this is it is losing value to inflation ;-(
Invest in your Education
If you are a college-age sugar baby ask your sugar daddy to pay college tuition, books, or materials. If you are out of college, take a course that can advance your career. Long to be a stay-at-home mother, take a course about your passion or hobby. Since half of marriages end in divorce, gain knowledge in a field you could enter later if you someday need to rejoin the workforce. It happens even to the best of us. Whatever you do, continue your education!
Even if you end up in the very unlikely situation that you’re managing your mansion staff while you sit around the pool and sip champagne, that would get old pretty quick. A sugar baby who stops her education gets boring. How would you hold a polite conversation at a dinner party if you don’t follow current events or have a passion project? What will you talk to daddy about when sitting at the beach on vacation for the fourth time that year? We need to stay current and continuously improve our knowledge.
Invest in your Business or Future Income Stream
The best way to grow your allowance, use it to form your business. Need a website to market your products, ask daddy to fund it. Need to buy equipment to grow your business, put it on your sugar daddy’s credit card. Need to hire an assistant so you can get done everything on your to-do list, put your allowance towards it. Don’t know exactly what your business will be yet but your goal is to rock the CEO position of your new startup? Make it a goal, decide how much you will invest each month, open an investment account (IT IS SO EASY, I promise! You can do it online and even on your phone!), and stash your money for that goal.
When daddy decides to move along, you’ll move up to bigger and better things if you have your business to grow. A sugar daddy will often be intreaged by your gusto and happy to invest in your start-up. They may have ideas on how to grow, where to get more funding, or who to talk with to grow your network. Use all his resources. No one gets to the top by themselves, use the resources available to you while you can.
Invest in your Retirement
Yes, your retirement. I know, none of us wants to think we will age, our looks will fade, and we won’t go freestyling anymore. But, maybe you’ll decide to settle down with Mr. Right. Maybe you’ll get a 9-5? Maybe you’ll have a child or four? Maybe you’ll head your company and travel the world? Maybe you’ll get divorced and start all over? Life will have its ups and downs. Your life will pick up and you’ll be happy you set away a nest egg before things got crazy (an untouchable, written in the prenup untouchable, all yours, nest egg).
Research which type of retirement account makes the most sense for you right now. Do you have income (not just an allowance?) from a job? Research a Roth IRA. Does your job offer you a 401k? Will they match a percentage of the money you invest? Great! Do you run your own business? How about a SEP IRA or Simple 401k? Take a weekend to binge Youtube and the web for all things retirement accounts and you’ll have a pretty good idea of what you need to do. Like opening an investment account, an IRA/Roth/ SEP IRA and more can be opened online- even in some apps).
Maybe you’ll start to withdraw this money in your sixties and you can laugh at the wild adventures you had when you were young that allowed you to save for yourself. You can give yourself a naughty smirk when you realize you played the game so well you are still reaping the benefits.
How do you plan to grow your sugar allowance?
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