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Top strategies on how to invest as a service industry professional
Learn how service industry professionals can manage and invest their money on this Queer Money®. Then kick off your financial independence journey now by getting your free copy of the 7-Step Credit Card Debt Slasher.
How to simplify investing and reach your financial goals
Bartenders. Servers. Hairstylists. Cabbies. Bellhops. What do all these careers have in common?
They’re all service industry professionals or SIPs who rely heavily on tips to earn their income. And personal finance for tipped workers is not the same as it is for 9-to-5 employees or entrepreneurs. And there are a lot of LGBTQ folks who work in the service industry. So, what can service industry professionals do to reach financial independence? How might we apply our skills as tipped workers to investing and money management?
Barbara Sloan is the Money Coach behind Tipped Finance, a platform that helps service industry professionals build wealth. She is also the author of Tipped: The Life Changing Guide to Financial Freedom for Waitresses, Bartenders, Strippers and All Other Service Industry Professionals.
On this episode of Queer Money®, Barbara joins us to explore why so many queer people are attracted to the service industry and explain how SIPs can create systems to achieve financial independence. Barbara discusses why service industry professionals should report ALL of our tips and describes how to gamify the process of saving for important financial goals like retirement or buying a home.
Learn how the skills you develop in the service industry make you highly capable of investing and money management!
Listen to insight on adopting an abundance mindset:
Topics covered on how to invest as a service industry professional
- How tipped work differs from having a W-2 job or being self-employed
- Why so many queer people are attracted to the service industry
- How service industry professionals can create systems to achieve financial independence
- How tracking income and expenses helps SIPs make more intentional decisions about money
- Why service industry professionals should report ALL of their tips
- Barbara’s exercise for calculating the cost of recovering from work
- How tipped workers might gamify the process of saving for financial goals
- Why Barbara prefers a simple Excel spreadsheet over finance and budgeting apps
- Why investing is no more complicated than understanding wine
- Barbara’s top strategies for queer SIPs to better their financial lives
- Retraining your brain to a mindset of abundance vs. always wanting MORE
- The value in being mindful of language we use to talk about ourselves
Connect with Barbara of Tipped Finance
Resources on how to invest as a service industry professional
- Tipped: The Life-Changing Guide to Financial Freedom for Waitresses, Bartenders, Strippers and All Other Service Industry Professionals by Barbara Sloan
Connect with David and John
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Get more on investing
- What You Should Know about ESG Investing
- 10 Super Simple Investing Tips
- 4 Key Tips for Investing in Volatile Markets
We’re David and John Auten-Schneider, the Debt Free Guys and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs, and 3) save and invest for retirement.