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How to Invest as a Service Industry Professional

Can you invest if you’re a service industry professional?

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Investing as a service industry professional

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.

Listen in for Barbara’s insight around adopting an abundance mindset and learn how the skills you develop in the service industry make you highly capable of investing and money management!

Listen to us chat with Barbara about how she invested as a service industry professional

Topics Covered

  • 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
  • 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 the language we use to talk about ourselves


Watch this week’s episode

Previous 3 Podcast Episodes


Connect with Barbara of Tipped Finance

Connect with David and John


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.

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