Spending Sugar Money
As most experienced sugar babies will know, when first starting off an arrangement, determining how to spend your new windfall allowance is difficult. To assist newbies and other babies in the bowl, check out my strategy below!
Beginning Allowance (when first entering the bowl/a new arrangement):
- Save up three months worth of rent (keep in savings for rainy day, continue paying rent out of pocket from vanilla job)
- Purchase general necessities (stock up on things like shampoo, toothpaste, other toiletries, etc. also for rainy day; stock up on non-perishable food also or grocery store gift cards)
- Pay off all credit card debt (minor debt)
- Begin chipping away at Student Loan Debt (major debt)
Percent of what goes where:
- 50% - student loans (or other large debt you may be carrying.
- 30% - high yield savings account (I use Capital One 360 because I like the ability to make sub accounts)
- 10% - personal spending fun (if you’re in a lot of debt you might be tempted to put all your money in savings or paying things off, but be realistic here. You will always want to have a little bit of fun spending money! If you don’t include it in your budget, you will throw your whole budget off)
- 5% - sugaring necessities (makeup, hair, nails, tanning, lingerie - don’t forget to invest in yourself! This is important!)
- 5% - house cash (random necessities - food, toiletries, cleaning supplies, bed sheets, etc.)
What does this look like in monthly allowances?
…And so on. You get the idea. It doesn’t matter what kind of allowance you have. It’s still money you didn’t have before! Remember to think of your sugar money as a windfall and put it to good use!