Hey Ladies! We did an IG poll about the best part of the biz: Money Money Money!
It is a tale as old as time that many of us- most of us, really- blow a bunch of the money when we start in the biz. If this is true for you, I urge you to have grace for the version of yourself who A) probably didn’t know better, and B) may have never been able to splurge before and understood you deserve nice things, while also being committed to doing better and committing to learning about finances and money so as to create the stability you also deserve.
Unsure what IS and ISN’T worth the money? We asked the girls what is the BEST and the WORST thing you’ve spent money on since you started working in the industry!
Out of 93 respondents, you voted that
The WORST things you’ve spent money on:
1. Luxury Goods: Responses included designer bags, designer clothes, and for one babe- a Mercedes. Blowing a bag on this type of stuff is a stripper canon event in many cases. It cannot be stopped or avoided. But now that you know- save the luxury items as gift requests! Let your doting customers spoil you with the good stuff while you save your bread. ( If you are a derelict like me, get them to buy the luxury goods- buy a good quality dupe in Chinatown or wherever they sell them in your area- and sell the authentic one to pad your investment account or pay off debt, bada bing bada boom).
While luxury goods can come in handy for branding purposes and help you look more expensive at work, their ultimate value is rarely worth the sticker price. Resale value sucks unless you have a very rare Birkin (Birkins are so ugly sorry not sorry) or something. Leave the designer shopping to the men with Black cards! Related to this, about 10% of respondents also mentioned spending $ on clothes they don’t wear / that don’t fit as their worst money spent.
2. On BOYFRIENDS: A whopping 12 out of 93 of you, 13%, mentioned spending money on an ex (or in one case, a current) boyfriend as your top spending regret. And with good reason! We live in a patriarchy where men on average outearn women. One of the ONLY industries women make up that difference is this one- and we won’t even get into the complexities of men themselves being the main consumers of sex/intimacy as a product, and the reason it is possible for us to commodify our bodies this way.
ANYWAY- there is a whole segment of men today who serially date industry girls, and lean on the stigma of “no one else will love you / deal with it,” in order to guilt you into paying for all or most things for them. This type is a LEECH to be avoided, who does not love or respect you, or themselves for that matter (like how embarrassing for them omg lol). If you find yourself dealing with this type- take it from the girls and cut the dead weight OFF. You are lovable and deserve to be putting the earnings you work hard for towards YOUR OWN goals and lifestyle!
3. Eating Out / Food: A few girls mentioned Uber Eats / food delivery, and others mentioned fine dining out. These are two separate things, in my opinion. Ordering food is a necessity, in a way. We all need to eat and there are only so many hours in a day. It is okay to allow yourself the help of having food delivered vs. the ordeal of cooking/cleaning up sometimes! Especially with work that is as physically and emotionally taxing as this, consider howe much food delivery makes sense in your budget.
Dining out / fine dining is not BAD, but it is up to you to decide how much of this you can afford while sticking to your budget and savings/investment goals. Personally, I keep a certain amount of my “fun/entertainment” budget earmarked for eating out/drinks with friends :) One thing to be aware of is if you have “friends” who always expect you to cover the entire bill everytime you go out because they assume you “can' ' since you are in this biz.. Similar to the leech boyfriend above, there are many people who will gladly enjoy life's luxuries at your expense just because they assume you make a lot and that this isn’t a “real” job or is “easy money”. While it is lovely to treat those you love when you can and want to- it should never be automatically assumed that you are covering everyone, always! Make sure those at your table are really your friends, and are gracious when you are able to share your blessings.
And now for the fun. The BEST things you have spent money on:
1. Investments: YES GIRLS YES! An investment is anything you put money into in order to profit from later on. You all mentioned: Stocks, maxing out your Roth IRA, and for one babe, tuition for law school as investments. Investing is incredible and I absolutely encourage learning about what types of investments work best for you! The earlier you start investing, the QUICKER your net worth will GROW.
Personally I invest mostly in stocks that pay quarterly dividends and ETFs (Exchange Traded Funds) that follow the S&P 500, which is an index (a group, basically) that tracks the performance of the top 500 companies in the USA that are listed on the stock market. We will be coming out with various blogs and videos about investing in 2024, but encourage you to start learning about these things ASAP! There are many youtube videos you can find about:
- Type of investment accounts to open
- How to know what to invest in (Time horizon/ Risk Tolerance/ Goal for the Money)
- Roth IRA Accounts
And start creating and moving towards your investment goals ASAP!
2. Appearance: The second most mentioned thing you say was the BEST money spent is on LOOKING FINE ASF!
Things mentioned included:
- Breast Implants (by far the top contender)
- Laser Hair Removal / Waxes
- Invisalign / Dental Work
- Facials / Great Skincare Routine Items
- Other cosmetic surgeries such as nose job, BBL, and lipo
- Fillers / Botox
While this may seem vain to some, how we look greatly affects how we feel and we are at our best when we feel CONFIDENT! You of course do not NEED any of these things to succeed or feel sexy, but there is nothing wrong with investing in your appearance and doing cosmetic things that make you feel beautiful n’ sexy.
Of course, always make sure to do extensive research on the risks associated with any of these procedures and the surgeons / aestheticians you’d potentially be working with. Cheapest is NOT always best when it comes to your body and health! Take your time making sure you understand the risks and are choosing any cosmetic procedures because you truly want them.
3. Paying off Debt: This is probably the most unsexy thing on the list- but oh gosh you will feel SO FREE as you chip away at being debt free! Babes in our poll mentioned paying off credit cards most frequently, but also paying off a car.
Paying off credit cards SUCKS, but it is so necessary to begin building the stability that you deserve. I find that paying off debt is tough for many of us because there’s alot of shame attached to it- we’ll feel like “I’m so dumb, why would I spend all this.” and like feelings. Be nicer to yourself! Credit card companies literally plan on most of their users staying in debt forever, and make their profits off of you paying off way more than you originally spent with minimum payments. I don’t think it helps to play victim here but it does help to give yourself grace. When I started seriously planning getting out of debt, I chose one card at a time I’d pay off and put whatever extra money I could towards it. I also kept the physical cards in my safe deposit box so there wasn’t any temptation to use them when I was out. As you see your balances coming down, you’ll feel motivated to continue 🙂 @m00nflowerr said it best, that paying down loans is both the worst (because it sucks) money spent, but also the best (because freedom, yay).
4. Experiences: It’s what we are alive for! Babes mentioned traveling to see destinations both domestic and worldwide, and going to festivals, concerts, shows, and more as one of their best investments. This one is very lovely, because as we all know tomorrow isn’t promised. We want to plan for the future but also EXPERIENCE places and people and things that make our lives feel fulfilling.
5. Therapy: While it can be daunting to find a therapist we trust, it is WELL worth it. A great therapist who is non judgemental and you feel safe being honest with can help us on our journey to be at peace within ourselves, and there is no better investment perhaps than learning to love and trust yourself deeply.
Before we go, some other adorable mentions of best $$$ spent:
- “A new mattress” - @kirbysd4ddy
- “Money attraction oils from the Botanica, more than triples my income when used” - @kitanna_333
- Great quality long winter coat” - @helloxlucy
- “ Best: first apartment for my son and I!” - @babychocobunnie
Thank You to all the Lovely Babes who participated! We hold polls on our private IG, @angelcandyshop4eva