How Should My Sugar Daddy Send Me Money

7th Jun 2015 | 1,049 notes

5 Popular Methods Of Receiving Your Sugar Baby Allowance

You know what you want. And you've finally got it – a sugar daddy and an allowance amount that makes you smile.

You're pleased, you're excited, but you're also wondering…what exactly do I do with this money?!

A sugar baby allowance is unlike anything you've received before. It's not income from a place of work. It's not a little birthday check your grandparents sent you. It's a regular infusion of cash and you're going to have to come up with the best way to handle it.

Every sugar baby has his or her own preferences and pretty soon, you'll find what works best for you. In the meanwhile, here are some of the most popular ways sugar babies like to receive their allowance (in no particular order).

1. Cash

One way to receive your allowance is in cold, hard, untraceable cash.

Pros: Cash is pretty much untraceable.

Cons: Cash is a good option because well, it's untraceable, but we would only recommend going the cash route if you're very, very good with: 1. not losing things and 2. managing your cash. Anyone whose received a bulk of cash can testify how easily it is spent and how difficult it is to recall precisely what it was spent on…

And even if you're really good at both those things, cash still comes with a few downsides:

It's kind of awkward. A lot of sugar babies – and sugar daddies – don't like the handing-over-of-the-stuffed-envelope routine so much.
It's risky. If you're receiving a few thousand in cash every month, you might suffer mounting paranoia in direct correlation with the amount of cash you're storing.
It's untraceable. Sure, this is an advantage of cash as well but it's also a huge disadvantage. If you lose it or it's stolen – it's gone for good.

Tips on getting cash: If you decide to go the cash route, we recommend doing this as soon as you get your allowance:

Get money orders to pay your rent, your car payment, your tuition, etc. You can get these money orders for like a dollar or two at your local post office and it is a safe, untraceable way of paying your bills and reducing your cash burden.
Make little deposits into your bank account. See the next section for more on this.

2. Bank Deposit

Another popular way to receive your allowance is through bank deposit. Once you trust your sugar daddy, you can give him the name of your bank, your name and your bank account number and he can make weekly, bi-monthly, or monthly deposits directly into your account.

Pros: Hands-off and easy. Plus, the money in the bank is typically more secure than hoarding wads of cash under your mattress.

Cons: The biggest con is the possibility of tax trouble.

According to Forbes.com:

"The minimum deposit that require banks to report it to the IRS is $10,000. Reporting of bank deposits over $10,000 or more is required by the federal law in accordance with money laundering and drug trafficking laws. Failure to report transactions over the said amount are punishable by law."

Most sugar babies have an allowance that's under $10K, but regular deposits of a few thousand dollars might also set off bank alarms and some prefer to be safe than sorry.

3. ~~PayPal~~ NO! Use Square Cash, or Chase QuickPay, or Bank Equivalent

~~PayPal is a super convenient way to receive money without giving out any of your personal details.~~ All your sugar daddy needs is your email and he can send you your allowance in a matter of minutes.

Pros: Instant, fast, convenient, and protects personal information.

Cons: There remains an electronic record of every payment your sugar daddy sent your way. ~~This might not be a problem, but PayPal has new regulations…~~

~~"PayPal says it will use your tax ID number to send tax Form 1099-K to you and the IRS when the payments you receive exceed both of these milestones in a calendar year:~~

~~$20,000 in gross payment volume for goods and services~~
~~200 payments"~~

~~Most sugar babies won't meet these regulations (i.e. 200 payments), but all that information will be sitting in your PayPal account if the IRS does decide to go browsing.~~

4. Pre-Paid Card (American Express Serve)

This is probably one of the best options for sugar babies.

Pros: Pretty much as untraceable as cash, easy to reload, can withdraw money from the card and use it to pay all your bills.

Cons: It could be a headache if you lose it. To make sure you can be re-issued a new one and not lose the money you have in your account, be sure to keep a copy of your card number as well as the toll-free number listed on the back of the card.

5. Bill Payment

Another popular option for sugar babies is to have their sugar daddies pay all their bills.

Pros: No money – or very little money – actually changes hands. He pays the rent, tuition, and other bills directly so you have no bills to worry about.

Cons: Lack of control and you have to disclose all of your bills information and personal information to your sugar daddy.

Solution: Build trust to acquire credit card information.

There is really no right or wrong way to receive your allowance. Just go with the option you're most comfortable with and remember to always do your research!

(Source: sugardating101.com)