How to Handle "Fast" Money
Iāve been meaning to write a post about this for a while now. If this ever gets lost in the Tumblr world, I will have this as an extra page on my blog.
At the age of 16 I got my first job in retail. Having access to money, no matter how little it was, made a huge difference in my life. It gave me the power of freedom, the power to choose, and the power to think for myself. Whatever I wanted, within reason of my budget, I got. But, I learned that I had to work very hard for my money, so when I bought something, it was a treat.Ā
Ever since I was a little girl, Iāve always had a taste for expensive items. I had wet dreams over Burberry trenches, Chanel handbags and Jimmy Choo shoes. Yes, Iām materialistic. I would spend every last penny on designers somethings. At the age of 20 I started working at a strip club. I got to dress up every night in sexy outfits, smile, flirt, look pretty, and I got paid for it. I thought I could handle all the cash flow coming in, but it only led me into buying high ticket items. I got so used to the fast life that if I spent $5000 on a handbag, I would justify it by saying, āI can make that money in two weeks tops.ā Since good things never last, neither did this. There came a point where I actually had to work a different position at the strip club and I didnāt like it. I made also no money and yet worked my ass off. I quit and am now pursuing sugaring, with a new sense of how to use my money in a smart way.
Itās scary to think that girl at the age of 18 even 16 are trying to sugar without actually having a job. Coming into contact with thousands of dollars a month is dangerous and you have to be smart about it.
- get a part time job. If you are 18 years old, with 10gs in your account without ever having a job history, two things come to mind. You are a drug dealer or a prostitute. Even if you work two days a week, youāll understand how hard it is to make minimum wage and start to value the sugaring āallowanceā you get each month.
-Have two banks accounts, at two different banks, and a safe deposit box. My first bank account is my checking account and that is where my paychecks from my part time job go. I use that money for current expenses. Gas, eating out, buying tampons, shit like that. In another bank I have a checking and a high yeild savings. In that checking my goal is to have $2500 in it at all times. That is emergency money. My car breaks down, I need to fix something, etc.. In my high yield savings, that is for my long term goals. I want to save at least $10,000. That is for whenever I want to move out, I will money for first, last months rent + deposit or whatever else. That is going to be my safety net. Any other money I get will be put into the safety deposit box. No one can look into the box, you can storeĀ jewelry, guns, or even money in there. I live with my family so having a vault in my room would be very stupid as they would probably want to see what is in it.
-Save your money. You started out broke and it wasnāt a good feeling, can you imagine what itās like to have had all this money and still end up broke?Ā
- This doesnāt last forever, have a back up plan. Whether it is going to school, starting a business or just working in general. Have a plan, use it wisely.
-Donāt brag. Fast money can be really scary. If you are 19 years old, making 3gs a month, you are making more than three quarters of people your age. KEEP THAT SHIT TO YOURSELF.
-Invest your money. In cdās, bonds, the stock market. If you have a business savvy SD, ask him what to do. DONāT let him invest YOUR money though.Ā
-Try to have your SD buy you expensive gifts. If you want to buy it yourself, limit yourself to one expensive item per month.Ā
-Protect your money. This might be the most important tip of all. DO NOT tell anyone how much money you have. I donāt care if she was your best friend since second grade. When it comes to money, people can act very funny. Your best friend will ask you where it came from, black mail you, and basically just ruin your life. Your personal business is PERSONAL.Ā
I think I covered everything. If not, Iāll just add it on later. Have fun, be smart and keep on sugaringgggg ;)
