Financial Advice for my Sugar Sisters!
Financial advice for building your empire!
I am getting back into the bowl with an old SD after a 4 month hiatus. During this time, I’ve had a lot of time to think about my financials and how I was able to SURVIVE and do everything I’ve wanted to do (travel, shop, move, etc) all because I was financially responsible during the steady allowance flow.
I was able to move into a new apartment, with down payment and 4 months rent, all new furniture and everything because I SAVED and INVESTED my allowance for years.
My general rule was save 60% and spend 40% (on all my expenses and fun stuff!). But it goes even further than that. Within my savings, about 50% was sitting in a savings account that I wasn’t allowed to touch and 10% was in stocks that pay DIVIDENDS!
What are dividends you ask? They are the life hack to money- stocks that pay you to invest.
Dividends are usually paid out quarterly (four times a year) and they work like this. Let’s say you’ve invested $30,000 in stocks of a company that pays outs a 5% dividend. That means they will send you a paycheck of $1500 for the year (/4=$375) quarterly, on top of the growing 30k stock investment that you can SELL at any time or hold onto for a few years and then CASH OUT. $375 may not seem like a lot but that steady $ may come in right at the time that a car payment is due and its FREE MONEY.
Another tip I have ladies, is so not get starry-eyed over the $$ and spend it all on shoes and bags until it your bank account hits zero. You MUST be saving and INVESTING in yourself and your future at all times. In my case, I have dreams to become a Youtube beauty vlogger and get into marketing/social media branding. My allowance has gone toward buying a high-end filming camera, studio lights, photography classes, and anything else that is propelling me toward my dreams and financial freedom.
Any $$$ from an SD must have a RETURN potential for the future! ( I realize that reselling handbags might do that too, but why not keep your handbags and make MORE money?!)
Sorry for the rant, but I’m just so grateful that sugaring has allowed me to live financially set and happy without a job for these last four months and as I get back into the bowl, my #1 goal is to take another man’s money to invest in MY EMPIRE. Consider your men your primary investors ;)
discoholicmusic
prguitarman
andulkaphoto
kianamaiart
theartofmadeline
romaincrisis
ellievsbear
