Imagine getting dressed in the morning without knowing what you wanted to do that day. You would end up hiking in a ball gown or swimming in your favorite party skirt and that would be the worst day ever (or the best I suppose but that’s for another article). An outfit can make you feel like a million bucks or it can ruin your day. It’s all about context. The same can be said about your money. Smart Sugar Babies manage their money even if Daddy is handing it over. Here’s my next installment of Money 101: strategy on how to get the most out of your Sugar.
Prepare for a Dry Spell
Sugar dating is a great way to get some serious financial security. Unfortunately it can also be fickle. A Sugar Daddy doesn’t need to give you two weeks notice. Create an emergency fund, enough money for three months of expenses. It will make sure that you are never in a situation where you have to stay with someone that you don’t like. You don’t have to tell your Sugar Daddy that you’re doing it. If fact, he may feel slighted or untrusted knowing that you are preparing for months without him. This safety net is for you and can be your little secret. It will make you to be a better Sugar Baby. You’ll be more gracious about gifts, and when you aren’t desperate for cash you won’t stress to make time for him.
Think About Resale
Gifts are one of the very best parts of being a Sugar Baby. I don’t think I truly knew how much I loved unwrapping a shiny surprise until I started Sugaring. That being said, gifts are not all created equal. Some items will hold their value more than others. A classic style with smaller branding will be more attractive to buyers. Personal items like shoes or lingerie are almost impossible to sell while purses or jewelry find owners easily. Ask for the things that will benefit you most, and can be resold easily in a pinch. Think exclusive Prada and Chanel over monogram Louis Vuitton.
Understand the Options
Ok, so you have extra cash and an emergency fund. Now you need to know what to do with it. It can be awkward asking family or a financial planner for advice under the circumstances. General knowledge about how businesses, stocks, and real estate investments will help you learn how to grow your money into a lifetime, transferable money tree. Most Daddies will have their own strategy for investing and his insight can be a great resource. Even if you chose a different path, asking him will make him feel like a superhero. Keep an eye open for my next few articles on investing as a Sugar baby and how I replaced my Sugar allowance with a real estate portfolio.