Sugar Daddy Dating Tips for Financial Security
Sugar daddy dating is surely the most satisfying lifestyle because you don’t need to play games and you can enjoy your mutually beneficial relationship. No wonder it is considered the most therapeutic thing in the world. In this article, I will show you how to protect your finances while enjoying your arrangement, no matter you are a sugar daddy or a sugar baby.
Financial advice for sugar babies:
- Establish the payment plan at the beginning of your arrangement. This is the most important element in your sugar relationship because what you do at the very beginning becomes the general outline of your arrangement. It’s much easier to set up terms and conditions first than to change the plan later. Therefore, you should talk about allowance early (e.g. on the first date, you can ask him, “Have you had an arrangement before?” If he had an arrangement before, you can ask what that arrangement was like and how much was the allowance. If he never had an arrangement before, you can start to talk about allowance now, “Well, in an arrangement, monthly allowance is expected to be paid by 25th of each month. And I expect $4000 per month based on this situation.”)
- Avoid telling your sugar daddy your bank accounts if possible. There are two ways to receive allowance without giving him your bank account details: 1) PayPal; 2) cash. If you are a sole trader/sole proprietor, you can transfer money from PayPal to your business bank account by yourself. Alternatively, you can ask him to give you cash. But don’t use the cash you received from him to buy a house. If you do that, the tax office will contact you. Another very good way to receive allowance is to ask him to pay your rent/bills/tuition fees directly.
- Go out with him and do some shopping if you can. If your sugar daddy is okay with going to public places with you, you two can eat in a fancy restaurant and go shopping together. In this way, he is paying for your food and clothing. A suggestion is: If possible, do this as often as you can when you two are still together, as you don’t really know how long your arrangement is going to last. Things that he has already given to you are truly yours. Don’t listen to anyone’s promises.
Financial advice for sugar daddies:
- Think about your budget before you start an arrangement. If you are a successful man, I’m sure you are ready to use some of your money to make your life sweeter. Yet my suggestion is: In your head, you need to clarify how much you are happy to spend on your sugar baby - $2000 a month? Or $4000 a month? Or $10,000 a month? Also, ask yourself - What should your sugar baby do for you?
- Never give a credit card to your sugar baby. If you give her a credit card, you can’t control how much money she spends. Worse still, she can even take away your credit card and spend a lot of money and then disappear! Therefore, you would be well-advised to pay her allowance differently. For instance, you can send money to her via PayPal. Or you can simply give her cash.
- If you want to make the allowance tax-deductible, there are options (Disclaimer: these are only some options that we have heard of before - it doesn’t mean we want you to do the same). If your sugar baby is a sole proprietor/sole trader, you can probably make her your contractor if possible. Alternatively, she may even become your employee if you think she is smart enough to keep her relationship with you confidential at all times.