Jobless man reveals how he affords 'champagne' lifestyle spending £10k a month

Edward Renard
Edward Renard pockets an eye-watering £10,000 a month in handouts from his sugar daddy

Privately educated Edward Renard, from London, has revealed the secrets of his lucrative relationship with a rich benefactor.

At 24-years-old, the jobless graduate's two-year fling has seen him net designer gifts, five-star holidays and cash allowances totting up to a whopping £10,000 a month.

But while Edward's love life may seem unusual, the bisexual is just one of thousands of youngsters ditching conventional dating methods and turning to websites to find a SUGAR DADDY to shower him with gifts in exchange for attention.

"I'm unemployed, but I do sort of look at my relationship as a job - it's an exchange of money for a service," he said.
Edward Renard on holiday
Edward Renard has been dating his 56-year-old sugar daddy for two years

For most unemployed graduates, treating yourself to a £20,000 10-day spa getaway to Germany, or traveling everywhere by private jet or in lavish super cars is a remote prospect.

But since Edward, who studied marketing and advertising at Kingston University, met his middle aged male companion, he has been living a life of luxury.

And his sugar daddy, who is a 56-year-old divorced father-of-one, is so generous, he has even agreed to pay off his student debt.
He said: "When we go anywhere we often travel by private jet or in expensive supercars.

"We recently went on a 10-day spa holiday in Germany - that trip alone cost £20,000.
"My friends and family don't know anything about it.

"They know I haven't got a job, and they know I have a lot of designer clothes and shoes and go away on lavish holidays - but they never ask where the money comes from."

 Edward Renard on holiday
Edward Renard often travels by private jet or in expensive supercars - thanks to his rich benefactor

Edward met his sugar daddy on website Seeking Arrangement, a dating website specialising in sugar baby relationships.

The website has been hit by criticism that it promotes prostitution and exploitation, but Edward said there's nothing sordid about his unusual relationship.

Edward, from London, said: "People are very quick to judge and let their imaginations run wild, but it's not as seedy as people think.

"This is my longest sugar daddy relationship so far - we started off seeing each other once a week, but once he ended another relationship we spent more and more time together.

"I think at first he was looking for a sexual relationship, but as we got to know each other it became very much platonic.

But despite living in the lap of luxury, bisexual Edward says he sees the relationship as more of a job.

"I sometimes help out in my sugar daddy's property development business, and it can be quite stressful having to put on a front all the time to keep him happy.

"In return though I get my rent paid, a £2,000 cash allowance, regular holidays that last up to a month at a time all round the world, five-star accommodation and luxury travel.

"To be honest, it is like a job - it's an exchange of money for a service, and that service is companionship and making someone feel good about themselves.

"It sounds amazing, and I do get paid well to do it - but it can be very stressful at times."

 Some of the gifts Edward has received from his sugar daddy
Some of the gifts Edward has received from his sugar daddy

Edward said he and his current sugar daddy have a long-term friendship and financial agreement rather than a sordid one-off arrangement - and whenever they go away together Edward insists on separate bedrooms.

Edward said: "I've had other sugar daddies before now, and the relationships can be a bit weird.
"The whole reason I started doing the whole sugar baby thing was because I'd dated a lot of people, and I always ended up being the one looking after them.

"It was nice to have someone look after me for a change, and be my cheerleader - if I have ideas they're happy to talk about them with me and they support and encourage them, which is really nice.

"I am bisexual, and I've had women approach me as a sugar mama too - but I grew up in a single-parent family and I'm very close to my mum, so using a woman for financial gain doesn't sit well with me.

"I prefer a man to pay, I'm quite old-fashioned in that way.

"I have had romantic sugar daddies before, but my current relationship is just a companionship really.

"Romantic relationships never really last long - due to the money it can be more of an uncle and nephew feel, which is a bit odd.

"Meeting a sugar daddy or sugar mama gives it a very different dynamic to regular dating, so romantic relationships are difficult - it's hard to have a real, loving relationship when you're being paid for your time.

"But lots of people look for sugar babies or sugar daddies and mamas for different reasons."

 Edward Renard's luxurious hotel room
Edward Renard's luxurious hotel room

There are nearly half a million sugar babies in the UK signed up to Seeking Arrangement, with 73,000 sugar daddies and 12,000 sugar mamas looking for discreet companions.

Seeking Arrangement spokeswoman Angela Bermudo said: "The sugar baby lifestyle is not exclusive to women - the number of men is rapidly increasing as more and more sugar mamas and gay sugar daddies join to find a younger companion who can provide a relationship catered to their busy lifestyles.

"Successful men and women have hectic work schedules or constantly travel for business, and therefore have little time to cultivate meaningful relationships - but ironically have much to offer in terms of resources, like knowledge, financial assistance and security - which is why arrangements work for them rather than conventional relationships.

"So, they leverage that for what the sugar babies offer.

"These sugar babies are willing to be flexible with their schedules, won't be demanding, can offer discretion and companionship, and in exchange for their understanding and ability to accommodate, sugar babies are often gifted with allowance, jewellery, high-end dining, help with tuition or bills, or get to travel with their sugar daddies and mamas to exotic and new destinations."

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