Strippers dance for money, and this money can get really serious. Some of us, however, get carried away and end up wasting more than what we earn. That’s a recipe for disaster. If you want to make the most out of what you’re working with right now, here are tips for financial management so that you can make sure you can tide yourself over to the next phase of your life.
Save. Many successful strippers use the money they earn to fund something else: school, a personal dream, etc. And they save. You don’t need to have a streamlined financial plan to be able to start allocating your earnings towards the right avenues. Just follow these pointers:
- Save 30% of daily earnings for tax
- Save 20% of daily earnings for your personal savings
- Save 50% of daily earnings for bills and other expenses
Settle outstanding debts. If you have credit card debt or other loans, remember to pay them off. They will accrue interest over time, and before you know it, you may have a lot more than what you can handle. Whatever you’re earning, set aside a portion to pay off debts you need to settle.
Plan your lifestyle. Don’t buy things that will leave you with hardly enough for rent or groceries. A good rule of thumb to consider when approaching lifestyle expenditures is this: if you can’t afford it, don’t buy it. If you can afford it, first make sure you won’t be choosing it over something else you need to have. A lovely handbag will not be able to put food on your table for a week. Make smart choices.
Lastly, consider investments. There are various financial vessels you can choose from to start, such as stocks and bonds. If you think you’re ready for it, contact a professional for guidance.