Looking for ideas on what to ask your sugar daddy for Christmas? This sugar baby gift guide is for you! Get ahead before the new year begins by asking for something that will help boost your financial plan.
Classic luxury gifts such as designer handbags and jewelry are always fabulous, but how about asking for something to complement your financial plan? You can always ask for cash, but some sugar daddies may prefer to give something more personal. This sugar baby gift guide includes practical, finance-based gift ideas that keep on giving all year long!
This is the perfect gift for coffee addicts or those of you who run through Starbucks to grab a latte en route to the office. All that making your own fancy espresso at home requires is adding 10 extra minutes to your morning routine. Choose a machine with a built-in grinder to save even more time!
I used to be a Starbucks addict (good thing I own some of their stock!) However, the only thing I ever ordered was a grande, half-sweet, vanilla soy latte. This cost me about $5.50. It doesn’t seem like much, but if I order one every workday, it costs $27.50 per week, $110.00 per month and $1,320.00 per year! Take some of those savings and buy yourself a fancy Starbucks tumbler to put your coffee in.
I asked my SD for a Breville espresso machine, similar to the Breville Duo Temp Pro. At that time, I was snob about grinding my own espresso beans (you can find the grinder I currently have here.) However, my next machine will definitely be the Breville Barista Touch!
I recommend Breville because of their high quality. The exact model I have isn’t even made anymore because their machines last so long, but you can get the newer model of the one I have here.
MONEY MATTERS: Potential annual savings: at least $1,320.00. By having an espresso machine at home, you could start that collection of designer goods you’ve always wanted. Or you could buy some Starbucks stock!
PRICE TAG: $400 – $1,000. Don’t forget to ask for Starbucks espresso beans to go with it.
BONUS TIP: After a romantic night at your place, serve up his coffee of choice – sans barista uniform, for a personal touch.
Learn how saving money on things like your daily latte can help you build personal wealth in my post How to Make The Latte Factor Work for You.
Amazon Gift Card
Yes, you could use an Amazon gift card to buy pretty much anything your heart desires, but set this money aside exclusively for books. Reading is one of the best ways to invest in yourself. As a goal for next year, aim to read at least two books per month – the same amount as the average millionaire according to an article from Business Insider.
If you prefer audiobooks so you can listen while you walk, run or workout, download books on Audible or sign up for an Audible subscription. Listening to books as well as reading can significantly increase your knowledge intake.
Kindle is also a good option if you want to read but don’t have the physical space to store your books. It’s also a great way to take multiple books with you without the extra weight when we finally get to travel again. If you don’t have a Kindle E-reader and want one, add the cost to the amount of money to ask for on your Amazon gift card!
MONEY MATTERS: Reading can exponentially increase your earning capacity. Ask your SD to help build your library while you elevate your lifestyle! Books should be a permanent item on every sugar baby gift guide.
PRICE TAG: Load up your Amazon cart with all the books you wish to read next year. Give the total amount to your SD so he can purchase your Amazon gift card.
BONUS TIP: Men love to feel needed and appreciated. Ask for his book recommendations. After you finish reading his suggestion, you can discuss it together – exclusive book club style!
Check out my Sugar Essentials Book List for a list of my recommend reading materials.
A Deposit for Your Tax-Free Savings Account (TFSA)
A TFSA is a registered savings (or investment) account for Canadians that allows you to recognize tax-free gains. There are a few strict rules that govern a TFSA, so make sure you’re familiar with them before you start contributing. You can read about the rules in detail here.
This is where I keep my emergency fund so it can earn interest while still remaining liquid, should I ever need it.
MONEY MATTERS: Proper tax planning gets more and more important as your income increases. A TFSA is a great way to max out your contribution room without paying tax on interest income.
PRICE TAG: You can always contribute to any unused contribution room from prior years, but the annual TFSA dollar limit for 2020 is $6,000.00.
BONUS TIP: If you’re unsure if a TFSA is right for you, make an appointment with a financial advisor. If you bank with one of the Big 5 Canadian banks, meeting with an in-house financial advisor to discuss your individual needs is FREE. Take advantage of that!
Investment courses are more accessible nowadays than you may think. If you’re a beginner in the world of investing or want to learn about a particular area, courses can help you learn faster than the Googling, DIY approach.
Take a look Udemy, an online learning platform for both students and professionals. You don’t need to apply to take courses, or be a student. Just pay the course fee and start anytime!
Investopedia recommends two Udemy courses: Stock Market from Scratch for Complete Beginners, and Ultimate Stock Market Investing – Learn How to Value Stocks.
MONEY MATTERS: Investing is an important part of every wealth portfolio. Everyone starts at the beginning, and the sooner you start learning, the more years you have available to accumulate wealth!
PRICE TAG: Approximately $55.00 to $170.00.
BONUS TIP: Take a look at local Colleges and Universities and see what they have to offer. You don’t always need to be enrolled in a program to take certain courses. You never know, maybe you’ll take an interest in a particular program. Your own knowledge base is your most valuable asset because it can never be taken away from you.
If you want to get started learning about the stock market without purchasing a course, read my post The Ultimate Beginner’s Guide to the Stock Market.
And finally, an item that should be on every sugar baby gift guide – a digital safe
Everyone has valuables that should be locked up, and a digital safe is where they should be kept. Keeping these items in a drawer or filing cabinet isn’t protection. Be very careful who you trust, and who has access to your stuff. Roommates, family members, boyfriends, housekeepers, maintenance staff and repair persons may have regular access to you home.
Anyways, where else are you going to keep all your cash?
MONEY MATTERS: Theft isn’t just a pain in the butt. It’s a major inconvenience that can potentially cost you a serious amount of money.
Replacing passports and other identification paperwork costs both time and money.
Original copies of wills, estates, power of attorney and representation agreements are required in certain situations. It may have been difficult to acquire the necessary signatures on these documents, and getting authorized persons to re-sign lost or damaged originals can be impossible.
Making an insurance claim for theft or damage of valuables will raise your insurance premium. Higher premiums can be avoided (thus saving your money!) if you take the proper precautions.
PRICE TAG: Good safes can be costly, starting around $260.00 and exceeding $500.000 +
BONUS TIP: Safes should always be fireproof, waterproof, large enough to store letter size documents and able to be anchored to the floor, wall or shelf. These features are critical, so don’t be cheap. Make sure to have it delivered to your door because they are heavy and bulky!
What are you asking your sugar daddy for this Christmas?
Share this post with a sugar sister and spread the wealth!