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I don't mean to brag ya'll but I'm a really good sugar baby. I have been doing it for a few years now and I've found a system that works for me and my sugar daddies. It's been a really good time and I love my life. Like I said I'm very good at what I do. I can see that by the amount of cash that I'm getting from my sugar daddy. I'm finally making enough money that I could quit my job and still have a lot of money left over but I want to be smart about it too and wanted to see what's the best thing to do with the money? Should I just leave it in the bank? Invest it? Buy stocks? What do you think? I don't want to just leave it there or spend it all. I want to make sure that I'm covered for the future
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Invest it for sure! That's the smartest thing that you can do with the money especially if your life is taken care of and all your expenses are paid. I always take half of my monthly allowance and I put it towards my rent and car and groceries but then I take half of the rest and put it in a savings account or buy stocks. I have money in 2 banks and I have put the other money in a tax free savings account that I can't touch for 2 years which means that I'm covered and that I won't accidentally spend that money either. Like I said I also buy stocks. I just pick one that is going for a good price and also one that I know is eventually going to go up. I sell them when they're high and I buy them when you're low. It's a good way to make money and I asked my SD for tips too since he's an investment banker. He thought it was really smart of me to invest it. It's the way to make sure that you still make money -
I've bought lots of stocks from being a sugar baby. They're great to have and like you said you can always sell them as they get higher. You don't have to keep them for dozens of years but just sell them whenever you want to. You can even just buy them and then just kinda forget about them too. But honestly the best way to make money from them is to keep checking up on your stocks and making sure that you know how they are doing. Get used to paying attention to them going up and down. They are great to have when you've retired. You can do bonds too but I don't know anything about themComment
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How do you do that? I want to make sure that I'm not screwing it up or maybe buy the wrong one? Is that even possible? I'm not that great with numbers or math. Barely passed it when I was taking it in schoolComment
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You can always ask your sugar daddy for help. That's what they're there for. To help you out with things and in my case they've always wanted to help me with it and given me good advice especially when it comes to buisness and finances. I'm sure that your sugar daddy would want to do the same thing. It's a good bonding experience. But all you really need to do is to figure out what are the stocks that will be doing the best. If you pick one that is doing really good then it's very expensive compared to smaller stocks that people are thinking are going to do well. You can look online or in the newspaper for that if you want to seem more impressive to a sugar daddy tooComment
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You're quite lucky that you're getting enough money that you can quit your job already because of it. I agree with what Lila suggested but you have to be sure that your sugar daddy has he's own business. When it comes to what kind of business you can start, I suggest in trying to have a restaurant or even a small food truck for startersComment
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If you're afraid that you might lose the money that you earn as a sugar baby in stocks or in a business, you can just open a time deposit account so that the interest you be much bigger than a usual account in a bankComment
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Looks like you truly know what you're talking about. Also as much as possible, don't start a business with a friend. If things go bad in your business, you would not only lose your hard earned money, but a friend as well -
That was the advice that was given to me by an old sugar daddy of mine. He also told that I should try and invest it in different businesses and not just in a single one so that you won't lose all your money in a single blow
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I think investing in the restaurant or food truck business is a nice start. If the food that you're going to offer is really good, it would definitely be a big hitOriginally posted by LowLa View PostComment
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If you have any debts, you can use your sugar daddy money to pay all of them and the remaining can be used in starting a business or investing it somewhereComment
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Carolina_Girl so where have you invested your sugar daddy money? Did you follow his advice or the ones that were suggested here?Comment
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Save it for the rainy days. Use it for school, that's what most would do, I guess.Comment
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It's good you are someone who wanted to spend your money wisely. It's better to invest it and start a small business.Comment
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