how do you cultivate a money lust?
Back about a year ago when i was first getting my hustle on, I couldn't get enough of work. I worked my little hinny off. And I rarely missed shifts, unless I was honest to god unable to go.
But these days...Hmm. I am somehow better at making money (refined the hustle, plus I refined my look a bit, dress better, seem more confident, more fit, etc). There is good money potential at my club, and even better money at a few other clubs (probably, so everyone says).
Granted sometimes I freak out and hate the job, but those feelings are very fleeting. I feel it's me being an overly sensitive prima donna. It's not hard to put your foot down and thus not have to deal with the crap.
So all good, no problems, but for the last three-four months, I just go to work less and less. And I am lazier when I am there. I never used to sit down and 'rest' while there were customers there to talk to. I also find myself getting pissy when I make less than say $500 on a Sunday or Monday, which would have thrilled me before (I forget that the money I usually make is not typical, and have less patience for the ebb and flow that is the business in general). And of course I make nothing when I am at home!!
I do have school and blah, but I could still get my ass to work more than I do. I think the issue is the money feels too easy and like I don't really need all that much? I need to somehow motivate myself to make more money. I feel like I'm wasting a fabulous opportunity (seriously, I am in a place and personal time when money is probably as good as it'll get for me). I AM wasting it.
So how do you make money a priority without any immediate bills? It just seems hard to hustle for more than i need, even though I know saving now would be very smart. Just these long immaterial goals like an eventual mortgage or whatever...they seem so far off that they don't motivate me enough to go to work today, or tomorrow, or whatever.
I am probably just a lazy, irresponsible youth. But I recognize the problem, and I am asking 'how do I make myself want to make more money?'. Cuz these days I feel 'oh, I've got so much in the bank already, and my bills are taken care of, what's the point working harder?'. It's one thing to skip work for homework. Quite another to skip it for 'a night out' or a pay per view movie...or the daily show. I suck, I know ::)
Re: how do you cultivate a money lust?
Um, honey? Weren't you worried before about not having enough time for yourself, and worried about burning yourself out? If you make enough money, don't worry about it. You're a little kid. You don't need to worry about retirement for... at least 3 years. Just keep your hinny on, and enjoy your life.
Re: how do you cultivate a money lust?
Do you want to be wealthy? Do you want to buy a house? Do you want a new luxury car? Do you own stocks? Do you realize that many people with a degree bring home far less money than a full time dancer who saves her money? Do you have any business interests? Would you rather work for yourself instead of settling into an 8-5 job? Do you have $5000-$10,000 saved? Do you realize that most of the wealthy customers you have sold are self-employed?
There has got to be a motivating factor in life for one to go to work regularly and work hard given the fact that in many clubs attendance is not mandatory.
If I paid off all my bills tomorrow, there are always expenses in life. I want financial security and the finer things in life. I am working to set up some passive income businesses right now that I can live on the rest of my life.
I think being in school, you may have to distance yourself from others who have less income potential than you, and focus on the one chance you have in your life to create wealth and security for yourself.
Re: how do you cultivate a money lust?
Start a savings acct ASAP.
I never realized how $$$ hungry I was until I opened my first real savings acct. I just about drool everytime I check my acct balance and see how fast those champagne rooms add up.
Say you make an average $300 a shift, 5 days a week when you're not giving it your all. That's 75k a year! If you put just half of that after tax into savings (I don't know about you but my cost of living is well below $25k/year) lets say $28K/yr, put that in a high interest savings acct with a rate of lets say 4.5%, interest taxed at a rate of 28%... you could have a whopping $149,573 saved IN 5 YEARS!!! The best part is, $10k of that is just interest earned, you didn't have to sit in one lap that's just FREE MONEY.
Does the thought of having roughly $150,000 turn you on? That's doing $300 shifts, and it sounds like you probably average much better than that when you put your mind to it. You could put down a hefty downpayment on a nice house and invest the rest or go into business for yourself...all at the age of 26!
For perspective, take my day job. I make about 31k a year working 40 hours a week sitting behind a computer. This is a pretty standard post-grad day job. I'm able to save about $100/week, or $5200 a year. Using the same formula as before, I could save $27,778 over 5 years. The difference between turning 30 with $150k in the bank vs. $27k in the bank is what makes me money hungry!
Re: how do you cultivate a money lust?
I just put my money where I can't touch it and I feel "cash poor".
I'm not poor, but feeling that I am makes me want to get it.
Re: how do you cultivate a money lust?
Quote:
Originally Posted by Emily
I just put my money where I can't touch it and I feel "cash poor".
I'm not poor, but feeling that I am makes me want to get it.
LOL
I do the same thing. I keep my wallet and checking account running on empty. I have no choice but to work and fill 'er up. Otherwise, I'd have to dip into my savings, and to me, that's atrocious.
Re: how do you cultivate a money lust?
I recently started making a list at the beginning of the month of all my bills, including large payments to my debts. (For example, the minimum payment to a credit card might be $100, but I'll write down $700.) I write them in the order they are due, and every night when I get home from work, I write the check(s) and cross something off. It feels great to cross things off that list, and looking at that list every day really motivates me to go to work. I leave the list sitting out on my desk at all times, so I see it every time I walk by. I love it when things are crossed off all over it.
If you don't have any debts, you could make a goal for savings and do the same thing.
Re: how do you cultivate a money lust?
If you have a bank account, you can get a savings account at your bank that will automatically transfer a set amount each month from your checking to your savings. You can set it to withdraw whatever amount you want. So it becomes like another bill you have to pay. If you set it at a high enough level (not so high it's ridiculous) you will HAVE to work more to make that 'bill' every month. Just make sure you don't turn off the monthly transfer or withdraw the savings.
That's what I do. So not only does it make me need to earn more, but it also makes me try to spend less, in order to pay that savings bill each month.
All my bills come out of my bank account automatically, so they're paid on time and I know I have to have a certain amount in there to cover bills and avoid overdraft fees.
Re: how do you cultivate a money lust?
My bank does that, Bridgette, but it's way too easy to transfer that money right back into checking. Once I've paid off my debts, I'm going to set up a savings account with a completely different bank so I can't just transfer the money to checking so easily.
That would be a good idea... set up your savings and checking with different banks.
Re: how do you cultivate a money lust?
I know - I just don't transfer the money back. But if you don't have that discipline, making it harder for yourself to do the transfers would help. Although, you'd have to make sure you set it up at a bank that will do the automatic withdrawals even if it's from a separate bank - otherwise it kinda defeats the purpose.
Re: how do you cultivate a money lust?
I have a couple of seperate accounts, that I keep my money in untill it meets a certain goal. I have a vacation account, a retirement/real estate account (I invest my "retirement/nest egg" money in real estate) a self account, and my general checking/ bill pay accounts.
Then, when I count my money after work I devide it up as follows:
10% cash for me (grocerys, resturants, clothes)
10% self acct. (the special things I want, as rewards for working,
like my ba, lasik,adifferent car, spa days,
shoes... my guilty pleasure)
10% vacations (another reward!)
20% general acct. (bills)
50% real estate acct.
I save a huge amount of what I make, which I use to buy houses (I flip properties) and sell at a profit. I love seeing my money multiply, whether by selling a house of going to work. I was born with a money lust!!! Also, by doing percentages, I really earn my reward, b/c if I've taken a 5000$ vacation, I've Saved 25000$. This works so well for me, and I only have easy access to my general checking acct, my 1 credit card, and any cash I may have.
I do allow myself a little leeway, like in the summer, when it's dead, I may save 30-40% so that I'm still able to easily pay my bills. Then, on the flip side, if I've sold a property that month or w/e, I know I can save a larger % of money, like 60%
I think, to "cultivate a money lust" you have to realize that this could all end tomorrow. You could, god forbid, get into an accident or find yourself unable to work. I'm always on myself like that, thinking, okay, I have x amount saved, but what if I'm out of work for 6 months, is it enough? What if while I'm out of work a hurricane hits, and i have to do lots of repairs to my houses, will it still be enough? What if, god forbid, Something happened to my parents, and I had to car for my sibling (16 and 4) would I be okay?
(I'm really not that perinoid, even though it sounds like it)
I just want to be financially secure for whatever may come. So I go to work, and I hustle. I set high goals, because I work well knowing standards are high. I reward myself well, but not easily. I have a definate money lust! You are never to young to save.
Re: how do you cultivate a money lust?
This might be more approp in Dollar Den. But please let me stress......just because you have debt to pay off, you should still be SAVING INTO A CASH RESERVE.
I recommend setting up a high-yield savings with a place like emigrantdirect.com (no, I don't work for this company, they have a great interest rate.)
Don't request checks from them. Setup a monthly auto draft into Emigrant. If you need the cash for an emergency, you can call them and they will wire it to your checking a day or two.
Create a list of your living expenses through a budget. Here is an example: http://www.personalbudgeting.com/sample/sample.html
There are better ones available, but you get the idea.
You should be saving towards having 4-6 months of expenses in that Emigrant account. Do whatever you need to do to start building towards that savings. Whatever is left over at the bottom of your budget statement, after credit card payments, should be going into your reserve.
I don't know anyone's debt situation, so I can't recommend what amount to pay on what type of debt. But every girl here MUST be saving for emegency first!
Sorry to hijack.
Molly, you don't need moneylust, just enjoy life for what it is for now. This is an industry with few incentives for success. Until I joined SW, I had no idea that other ambitious strippers even existed!
Re: how do you cultivate a money lust?
Set a goal...like buying your first condo...then save for it. I don't know, that sounds simplistic, but it's what I do, and I'm pretty money lusty. (Though I don't work as much as I should/could either).
Re: how do you cultivate a money lust?
"I don't know anyone's debt situation, so I can't recommend what amount to pay on what type of debt. But every girl here MUST be saving for emegency first!"
I cannot agree with this more. I am the poster child example for what can happen when you don't have an emergency savings. I started dancing solely to get out of debt. A year and a half later when I was totally debt free and ready to move on from dancing I was in an apartment fire, lost everything, and almost died. I did not have emergency savings, I'd never heard of it. Saving was that ambiguous thing you should be doing after paying bills but could never quite get around to. I was instantly financially and emotionally devastated. This lasted for years. I danced when I could, with PTSD and lung damage, and rebuilt my home a pillow and a towel at a time. At the same time a new club opened with $5 dances and every club in town dropped their dance prices to compete. You really can't know what's around the next corner.
If I'd had that 6 months of emergency savings my life would have been SO much easier. Dancers especially need that buffer because one twist of the ankle and everything changes. You have to make savings a bill and the first bill you pay each month. You can scramble around at the end of the month to pay rent because you HAVE to but it's less likely you'll do the same for savings.
The first year I danced it was like the club and I were magnets, I just couldn't get there fast enough and worked as many nights as I could. After about a year though, it was like the magnets reversed. There was this oppresive inertia. I think that's a pretty natural cycle. The problem is newbies think dancing will always feel exciting and make financial decisions based on that time. After those first high/low cycles it seems to even out and you'll have lesser cycles within that more even ground. That's the best time to judge how often you can realisticly dance.
There's a reason you can't go to work all the time. You're not a machine and a strip club is a soul sucking place to be all the time no matter how much money you want to make. The inability to strip every night is not a matter of laziness but something within you trying to find internal balance. I know it can be laziness for some dancers but that doesn't come through in your posts.
If you do want to cultivate money lust think about exactly what you want money to do for you. I've never been a designer purse/luxury car person but I do love to travel and take classes. You need to be specific about why you want the money and why you would want to go into work extra nights to get it.
Re: how do you cultivate a money lust?
Thank you for sharing shakti! Ladies, you all have the ability to save money. That's the best thing about stripping..the money. If you work in this industry, and cannot cover your own basic expenses from the earnings, then perhaps you are in the wrong line of work and/or you need to scale down your lifestyle.
The greatest goal to save for is your EXIT STRATEGY. This job eats away at the soul, as shakti mentioned. Few have the balls to do if for a long time.
Molly, what would you like to do? Go to grad school? Start your own business? Buy a home/car? Be able to work for a non-profit and not starve? Think about that and put aside 20% of your earnings, no matter how often you work. ;)
Re: how do you cultivate a money lust?
^^ I don't know what I want to do, but any of those sounds good. And saving 20% of what I earn is certainly something I can manage. Thanks Katrine (and thanks everyone- it's all good advice).
Also, I just switched clubs...to a much better place, and it's easier to go work once in a while :)
Re: how do you cultivate a money lust?
This is excellent advice!
Re: how do you cultivate a money lust?
This is all great advice. I keep reading it over and over. After your story Shakti I do not only need an emergency account but want one too. Plus, I would love to move into a better place and finally get my car for this Christmas. Saving in percentages from each night is a good idea. Seems like I cant touch the money b/c its already been accounted for something else.
In case anyone was wondering about EmigrantDirect.com company I found some reviews here.
http://www.thriftyfun.com/tf21121639.tip.html
http://www0.epinions.com/finc-Financ...splay_~reviews
Re: how do you cultivate a money lust?
^^I'm so happy to hear that! Not having an emergency fund radically changed the direction of my life. Never get yourself in a position where you HAVE to dance. We all know how much harder it is to make money when you're desperate. Having that savings will give you a sense of security and personal power. If nothing else the most important thing to leave stripping with is 6 months of emergency savings and no debt, the rest is just icing on the cake.
It's good that you're starting the percentage system, the earlier a dancer can do that the better. Another downfall is thinking that when you have a $500 night, you have $500. If you shove all of that into one bill (or go shopping!) it may leave you in a precarious position later in the month if you get sick or something changes at your club, etc. It's much easier to take a percentage out each night to pay taxes than spending two weeks at the end of the quarter dancing solely for the IRS. It's hard to get on top of the percentage thing at first, and it's definitely less fun, but it will be worth it in the long run. That kind of discipline will carry you the rest of your life.
Re: how do you cultivate a money lust?
How to cultivate money lust?
Easy. Hang out with girls that are gold diggers so you become one 2.
Also watch TV, and listen to music, "Money Maker" by ludacris, Gold Digger "Kanye West" unless songs...
Re: how do you cultivate a money lust?
Quote:
Originally Posted by MoneyLover
How to cultivate money lust?
Easy. Hang out with girls that are gold diggers so you become one 2.
Also watch TV, and listen to music, "Money Maker" by ludacris, Gold Digger "Kanye West" unless songs...
That's not money lust. That's mooching.