Dancers' Financial Acumen

If you put money in the bank, then the government knows you have it (plus taxes your interest as income). If they see your bank account growing very fast and you didn't file taxes, the IRS may investigate.

The more likely explanation is that they do spend it quickly. The girls bitch they are broke to us and need money for rent yet have designer clothes, eat out all the time, and drive nicer cars than most of us. They just have their priorities mixed up.

Art, while it's not "the moment they earn it" all the time, that's not far off in many cases. I've met a few dancers who were savers, but I can't tell you how many times I've heard "great, now I can pay my electric bill" after giving them some cash.

One of my current regulars keeps her cash in an envelope under her mattress, if not in it, and pays most of her bills in cash, at the offices of the businesses involved. Her rent she pays with a money order, since they won't let her lay in cash.

Anything left over goes to weed and clothes. After that, she starts over for the next month. No putting some away in case the next month isn't as good, no getting a little extra food for the freezer, no thought for anything except the next bill.

Girl I know lives at home, car is registered to Dad, phone is under his plan, so she gives him cash, gives Mom cash to help with rent and food. Says she has a safe in her bedroom. I wonder what the hell is in it. She says she only paid $5000 down in cash for her car cause she told her parents she was a waitress.

Think of the level of discipline, concentration and sacrifice it takes to get the training and education for a regular paying job. College, vocational school or employee training programs require study and commitment. Most dancers don't have it. Do you really expect them to manage money? No, I'm not saying they are dumb. They have chosen to live a different--and for them--easier way than us uptight, straight, 9 to 5 grind it out folks.

You would be surprised at the number of people amongst the lower classes who do not even have bank accounts.

Farmerart, here in USA now bank accounts are limited to how much they can penalize people so therefore a lot of banks have fees. For example, JP Morgan Chase bank is one of the most common banks here in Columbus. It is $6/month fee but you can get that waived if you have direct deposit like I do. Several other banks are the same way of "either have direct deposit or pay a monthly fee"....not too many strip clubs pay their independent contractors via direct deposit.

It's always been amazing to me how many dancers blow their money everyday. I can't tell you how many times I've seen a girl go home with big money at the end of her shift only to call me the next day and ask if she can borrow money for cab fare until she completes her first stage. Most dancers are broke, despite the fact that they make great money.

Also it seems like a lot of banks prefer to build locations in nicer parts of town. The lower class parts of towns do not have as many bank locations. Instead they have those cash advance/check cashing stores, which charge outrageous interest and rip off the lower class. They are also notoriously around military bases to take advantage of the young recruits.

dancer told me that she put about half of her money in a regular bank account for living expenses and the rest she put in a safe deposit box at the bank.

Most banks also have a minimum balance requirement on checking accounts. If you're always below the limit, you are paying fees every month, probably to the tune of one or two LDUs going for bank fees. Does not compute in stripper math. Plus, I doubt drug dealers take checks.

I know that they often deposit their take into ATM's. Of course to do that, they have to have an account.

I know quite a few girls that don't have proper id (they don't have a driver's license or state id) so they can't exactly open a bank account easily. They also quickly spend the $$ they earn on food, taxis, baby sitters, cigs, rent in some cases, etc, so the $$ goes quickly.

Maybe they just told you that just so you would stop trying to convince them to take the canadian dollars.

The same as girls tell you 'I don't have a phone' or give you a bogus phone number to get you off their back.

GMD just uncorked an early nominee for "Line of the year":

"Anything left over goes to weed and clothes."

LOL!!!!!!

I should have that made into a bumper sticker for my ride:

"Personal finance 101: Anything left over goes to weed and clothes."

It's also good survey fodder--What percentage of dancers would answer "I agree" to the statement "Anything left over goes to weed and clothes"???

As independent contractors, dancers are legally obligated to pay income tax and social security taxes on their earnings. Not surprisingly, many decide not to report most or all of their cash income, and they avoid bank accounts that would reveal their income to the IRS. They pay for things with cash or money orders. They don't use credit cards because they have a hard time establishing credit and they don't like the paper trail. In financial dealings, dancers resemble drug dealers.

Last year I went with a blonde dancer friend who was shopping for a car. When she purchased her 5-series BMW, she made the down payment with $9000 in 50's and 100's.

I know some stripper on the pink site was complaining that her club charges a fee if she trades in her $1 bills for bigger bills. She said she does that so her deposits at the ATM are easier. Instead of slipping in 50 $1 bills just one $50 bill instead. Too bad the clubs take a fee from her though.

If they wanted bank account they would have them... They'd just, in a lot cases, rather spend the money. Like others have said, they live "glamourously"... Till the money runs out.

I know my AFT used a safe deposit box. I helped her get one, and not in a bank.

Some of the girls have a different banking system. It's called "I give all my money to my unemployed druggie boyfriend who mistreats me but I love him" bank.

smooth,

That is one reason I believe I have good luck in clubs when I am in my biker persona.

you'll be surprised teh money goes fast with strippers, paying for food debts, bills