Entering the sugar bowl is an exciting experience. But modern psychology claims that excitement and fear stimulate the same area in the brain, so perhaps you also feel a bit scared at the same time? This is probably true when you are dealing with money in an arrangement, so in order to help you with your sugar finances, I’d like to show you how to manage your money properly in the sugar bowl. Are you ready to take notes?
When cash is king…
Many sugar daddies and sugar babies prefer cash when it comes to allowance because: 1) when a sugar daddy gives his sugar baby cash, his bank statement wouldn’t have any evidence which says his sugar baby receives his money; 2) a sugar baby can use cash to pay her bills, so she can keep her own money in her bank account, thereby making her life easier and more secure; 3) it’s safer if your sugar baby doesn’t know your bank account details at all. In this case, cash is king.
When bank transfer is king…
If your sugar baby is working for you as your personal assistant, secretary, etc., you can pay her salary regularly, which means her allowance is now tax-deductible to you because her salary is actually your business expense. (Disclaimer: This is for general information/humor purpose only. This article isn’t written by an accountant or a lawyer and this website doesn’t give financial advice or legal advice officially. Consequently, please consult with your accountant and lawyer before taking any action. The author of this article and our website are not responsible for whatever action you choose to take after reading this article.)
Ready to enter the sugar bowl?
You can only have a joint account with your sugar baby when you 100% trust her.
Sometimes, a sugar daddy and a sugar baby may have a joint account, e.g. the sugar daddy has the primary credit card, and his sugar baby has the secondary credit card, which means the sugar baby can use her card to spend money, but the sugar daddy is paying for everything. If you totally trust your sugar baby, you can do that. However, if you are not sure whether your sugar baby is reliable or not, you’d better avoid having a joint account with her because one day when she leaves you and goes shopping (think 20 pairs of $600 shoes), you will have to pay for that!
Instead of giving your sugar baby allowance and gifts, consider mentoring her.
Not every sugar baby focuses on allowance and gifts. In fact, an intelligent sugar baby focuses on things beyond allowance and gifts: she has a long-term vision and wants you to be her mentor, so that she can be a successful woman in the future. Therefore, if you don’t want to spend money on your sugar baby, perhaps you can give her mentor ship. For example, you can give her career advice, you can introduce her to your connections, you can find a job for her, you can teach her things such as investing and business. In this way, you are not losing your money – you are building a genuine relationship with your sugar baby who will probably be grateful for what you’ve done for her forever.
Rather than giving your sugar baby allowance and gifts, consider investing in her business.
This is the ultimate win-win solution. You don’t want to pay your sugar baby, but you still want to keep her. Then the best way to do so is to invest in her business. If she wants to start a company, you can invest in it so that both you and your sugar baby will benefit from this business in the long term. In other words, you are simply using your own money to work for you, i.e. your money will make more money for yourself and your sugar baby; therefore, your sugar baby wants to be with you in the long run.
Ready to enter the sugar bowl? Watch this space because we’ll share more tips and insights with you soon!