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Networth and Chill with Your Rich BFF

Tipping & Why it's BAD/GOOD with Barbara Sloan

Networth and Chill with Your Rich BFF

Vivian Tu

News, Business, Careers, Business News, Entrepreneurship

4.41.6K Ratings

🗓️ 5 July 2023

⏱️ 43 minutes

🧾️ Download transcript

Summary

On this week's episode of Networth and Chill, I'm sitting down with the founder of Tipped Finance and author of Tipped Barbara Sloan to discuss all things tipping. These days it seems like we are prompted to tip everywhere, and it can be hard to know when, where, and how much we should be tipping. Barbara gives her expert advice on when tipping is a must, and talks about how much is appropriate. Plus we dive into the world of tipped workers, and discuss the best ways those in the service industry can reach financial freedom.

Got a financial question you want answered on a future episode? Text me or leave me a voicemail at 908-858-3410.

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Transcript

Click on a timestamp to play from that location

0:00.0

What's up rich friends, welcome back to another episode of Net Worth and Chill with me,

0:11.0

your host Vivian2, aka Yorvich BFF and your favorite Wall Street girlie. And this week,

0:15.7

we got to talk about one of the touchiest subjects when it comes to money. The other day,

0:20.0

I was at the airport at a random bakery cafe situation and I wanted to grab a croissant sandwich

0:24.9

and a water before I flight. I was sitting in economy, I knew they were not going to feed me,

0:28.2

and I was going to have to bring my own dinner, bring my own snacks. So, I grabbed a water out

0:32.8

of the little fridge thing and a sandwich out of the little hot rotator thingy that was keeping

0:37.1

all of the package sandwiches warm and I took it to the counter and checked out and when I checked

0:41.3

out, I was prompted to tip and my selections were 20, 25, and 30% and listen, hear me out. If I'm

0:48.6

sitting at a nice restaurant or someone is dored ashing my food to me in the rain, I have no problem

0:53.8

tipping 20 to 30%, but I was literally in an airport and the cashier did not help me find my food,

0:59.2

she didn't even heat it up for me. The only thing she did was scan the barcodes and I am so tired

1:04.3

of being prompted to tip people to just do their baseline jobs, but in a state of panic, obviously,

1:10.1

and social anxiety and not wanting to be late to board my flight, I hit 20% and just moved on with

1:15.5

my day. And I thought about that interaction, the entire flight and I know anytime that I'm at a

1:22.2

register and they hand me an iPad, I'm going to be tipping on something. And, you know, honestly,

1:27.2

I really wish I had pressed no tip. So today, we're going to cover the history of tipping, whether or

1:32.6

not we should be tipping, and for all of the besties who are tipped workers, how you can get ahead

1:37.7

financially when your income is almost entirely based on the generosity of others. We're joined

1:43.1

today by an expert in the space, not only has she spent over 20 years working in the service industry,

1:48.4

but she's also recently written a book entirely focused on reaching financial freedom as a tip

1:53.2

worker. Everyone, please welcome Barbara Sloan. Hi Vivian, I'm so pumped to be here. Thanks for

...

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