Investing for a rainy day could be a lifesaver. Sugar money notoriously disappears as quickly as it’s received. The best way to ensure that your sugar efforts support a good cause, is to think like an investor.
I want to help you envision a future filled with longevity. Sugar should be a compliment to your income. Never a long-term expectation. Let’s start by hitting the books.
Investing Idea #1: Education
First of all, there’s nothing wrong with investing in a good ‘ol fashioned education! It’s no secret that the global job market is fierce. Simple resume add-ons such as being multilingual, having study abroad experience, and noteworthy internships all help with boosting your earning potential right out of college.
Remaining debt-free is everyone’s goal, but if you’re open to it, put that extra cash from daddy towards a reasonably priced online Master’s Degree program. Or pay off past student loans.
Investing Idea #2: Designer Bags
Many Honey Daddy’s out there are rolling their eyes at this suggestion…but hear us out! The quintessential accessory of any modern gal’s wardrobe is her handbag. From the Hermes Birkin to the signature Chanel flap bag (also known as the 2.55) it’s arguable that some designer handbags see value appreciation that outweighs real estate!
Additionally, if purchasing bags brand new is not quite in the budget, consider reliable outlets like TheRealReal, Fashionphile, or Poshmark all offer complimentary authentication for your new investment.
Investing Idea #3: Jewelry/Gold
Believe it or not, gold is everywhere. Common use includes internal computer bits and wiring for televisions. Gold has held its weight for centuries, and is great to have around during times of inflation. When purchasing gold bullion or jewelry pieces, consider investing in a safe or safety deposit box within your local bank to keep valuables safe.
Speaking of jewelry, noteworthy brands like as Tiffany & Co., Cartier, or Rolex are reliable go-to’s for investing. If you notice a piece crafted by a particular designer or an exclusive style–consider snatching it up! Limited-run designs tend to hold their value exceptionally well.
Investing Idea #4: Franchising
Next up is likely the oddest suggestion on my list, but worth considering. When you think of popular eats such as Wingstop, McDonald’s, or even 7-Eleven you are enjoying a franchise. These businesses fall beneath an umbrella company. There is set a fee to bear the franchise name and there are minimal fees year-after-year to continue using the name.
Furthermore, the cost may sound daunting, but reasonably priced franchise opportunities exist. For example, you can purchase a Subway franchise license for around $15k. Some companies even offer financial assistance with building purchases and storefront leasing.
Honestly, when deciding where to invest your sugar money go for what you’re interested in. It’s easy to blow cash when investing in areas that you’re unfamiliar with. In all, keep your mind strong, and your honey money even smarter.
What investment ideas can you share with Honey Daddy members?