I thought id do a post on the big A and how to...
- Work out what you need/want
- Consider how to use it
- Choose how to recieve it
I admit I'm not particularly an expert, but I usually am confident enough to strike up this conversation, and I know how to read men and give them that kick up the butt they usually need! I also thought it would be an interesting post, as everyone has different views and tips, so please feel free to share your own in a post or in my comments. If we all share our tips, we will be a new breed of super baby's! :D
Deciding the how, when and what with regards to your allowance or monetary gifts usually comes naturally, as you know yourself what would help. This is personal and will vary from Sugar baby to Sugar baby.
There are several ways you can arrange the monthly or weekly allowance. Some ways include -
- Prepaid Credit Card - You have a set amount, no 'overdraft', can withdraw at ATMs
- Credit Card - A credit card in your name on your Sugar Daddy's account
- Cash - Old fashioned brown (pink?) envelope full of spondoolies
- Electronic - PayPal or similar
My favorite way is a Pre Paid Credit Card. Reasons being, Obviously cash is simple, BUT this can be problematic - it can seem too transactional. A Pre Paid Credit Card is great because its all yours, not attached to his account so you can use it as you like, you can still withdraw at ATMS and put into your own bank if you like, you can also use online and in stores. It will be automatically set up to 'refill' every month. We all like a bit of refilling! Also... you don't have to have the whole conversation every few weeks like you will do with cash if your Sugar Daddy is of the forgetful variety! Carrying cash is a little unsafe too.
My least favorite way is a Credit card on his account, most daddy's are economically savvy and wont favor credit cards anyway as the high charges plus you don't have a limit which may sound appealing but how will you know what you can spend? You may think its appropriate to spend £1000 on a shopping spree, he may have intended you to be more conservative and use it for bills. I'm also not a fan of Paypal, its ok for the first few times but you need to check its in there, wait for it to clear, they take a cut etc and it may not be automatic every month.
You decide on monthly, weekly, whatever works for you. I think Monthly is good as long as you are seeing each other quite regularly. It all less transactional and weekly can easily fall into the 'pay for play' category if its not set up well.
I think a good starting point for an allowance is your rent + your bills + a little to spend on whatever you like = a good allowance. If you work this is perfect as it allowes you to invest and use your wage packet for whatever you like knowing that some of the main things are covered.
Personally, I am happy with an allowance of between 3-4K a month. This works out at a grand a week, and would allow me to save/invest maybe 2K each month, and still live a comfortable life with plenty of money for the little things that make us smile :)
I have in the past had higher allowances, but a little less is better than nothing. I also find lots of potential Sugar Daddy's who fall into the 3-4 K category, where as the higher guys are harder to come across. As long as your chosen Daddy has potential, you will be able to up your allowance at a later date in most situations, once you have bonded well.
*Don't forget, 3-4 K in one currency, is not 3-4 K in another. If your talking to an international daddy make sure your not cutting yourself short. Seeking Arrangement for example uses $ as a guideline. If your a UK baby, this amount will be roughly half in pounds - not as interesting as it first looked.
Check the exchange rate and be smart. At the moment £1 is equal to $1.56 dollars. So my set allowance of 3-4k in GBP is equal to $4,700-$6,261 in USD. If your a USA baby, and followed my guidelines your allowance will be between roughly 5 and 6 k.
Being Smart About Money
Its tempting to create a huge wish list of things you want to spend your allowance on, and its exciting to do. I think for the first few allowances you should try to consider clearing any debts you have, maybe paying of credit cards etc. Its also a good idea to keep a 'float' of money in your bank account, try keeping it so that it never falls less than 4 figures. This is a good back up, as you never know when the arrangement could come to an end.
If your Sugar Daddy is in the financial world, maybe a banker or a broker, pick his brains at how to invest wisely. Maybe you want to play around with some extra money and invest. If your lucky, he might set you up with a little stocks and shares account and give you some tips.
Budget well as a Sugar Baby too, be smart and save for the future. Budget at least half of your allowance into savings, if you can. Those shoes you want could be included into shopping trips with your new Sugar Daddy, or you could send him an online link!
Ive as usual gone on and on :) So Ive missed out the actual conversation and stumbling blocks you may find when you broach the subject with your Pot. That's coming up in my next post!
Kisses, Baby Bow xxx