Money Rehab with Nicole Lapin - A Professional Santa on Santanomics, How Much $ He Makes as Saint Nick and More

Episode Date: December 25, 2023

Merry Christmas to all who celebrate! Today Nicole sits down with perhaps the biggest celebrity she's ever had on the show: Santa Claus! But actually... today's guest's legal name is Santa Claus. He answers everything you want to know about being Santa— and even what you didn't know you wanted to know: how much he makes as Santa, how much that coat costs, what the cool Christmas gift is this year, whether he's been financially naughty or nice, the tax structure in the North Pole, and what he thinks of Tim Allen. Check out Santa Frank (including his BBQ and wedding page) here: https://www.facebook.com/santa.claus.50

I love hosting on Airbnb. It's a great way to bring in some extra cash. But I totally get it that it might sound overwhelming to start, or even too complicated, if, say, you want to put your summer home in Maine on Airbnb, but you live full-time in San Francisco and you can't go to Maine every time you need to change sheets for your guests or something like that. If thoughts like these have been holding you back, I have great news for you. Airbnb has launched a co-host network, which is a network of high quality local co-hosts with Airbnb experience that can take care of your home and your guests. Co-hosts can do what you don't have time for, like managing your reservations, messaging your guests, giving support at the property, or even create your listing for you.

I always want to line up a reservation for my house when I'm traveling for work, but sometimes I just don't get around to it because getting ready to travel always feels like a scramble, so I don't end up making time to make my house look guest-friendly. I guess that's the best way to put it. But I'm matching with a co-host so I can still make that extra cash while also making it easy on myself. Find a co-host at airbnb.com slash host. One of the most stressful periods of my life was when I was in credit card debt. I got to a point where I just knew that I had to get it under control for my financial future and also for my mental health. We've all hit a point where we've realized it was time to make some serious money moves. So take control of your finances by using a Chime checking account with features like no

maintenance fees, fee-free overdraft up to $200, or getting paid up to two days early with direct deposit. Learn more at Chime.com slash MNN. When you check out Chime, you'll see that you can overdraft up to $200 with no fees. If you're an OG listener, you know about my infamous $35 overdraft fee that I got from buying a $7 latte and how I am still very fired up about it. If I had Chime back then, that wouldn't even be a story. Make your fall finances a little greener by working toward your financial goals with Chime. Open your account in just two minutes at Chime.com slash MNN. That's Chime.com slash MNN. Chime feels like progress. Banking services and debit card provided by the Bancorp Bank N.A. or Stride Bank N.A. Members FDIC. SpotMe eligibility requirements and overdraft limits

apply. Boosts are available to eligible Chime members enrolled in SpotMe and are subject to monthly limits. Terms and conditions apply. Go to Chime.com slash disclosures for details. I'm Nicole Lappin, the only financial expert you don't need a dictionary to understand. It's time for some money rehab. If you're celebrating today, I want to wish you a very, very Merry Christmas. And even if you don't celebrate Christmas, I hope your day is full of all of the things I see on Christmas wrapping paper at CVS. Merry, bright, joy, peace, comfort, all the good stuff. Whether or not you're celebrating, I have a present for you. It's an interview with probably the biggest celebrity I have ever had on the show. Santa Claus. Literally, I'm not joking. My guest's

legal name on his social security card is Santa Claus. But this Santa doesn't live in the North Pole. He lives on Long Island. This Santa, who was born Frank Pascuzzi, is a professional Santa year-round. Today, we cover Santanomics, the business of being a professional Santa, and what financial moves can get you on his naughty list. Here's our conversation. And again, Merry Christmas. Santa Claus, welcome to Money Rehab. How are you? Thank you so very much. It's a pleasure to be here. It's a pleasure to have you.

The pleasure is truly all mine. I am not calling you by a nickname here. Your legal name is Santa Claus. That's right. Like on your driver's license. Yep. Your credit cards. Every one of them.

It says like first name Santa, last name Claus. Yep. Your credit cards. Every one of them. It says like first name Santa, last name Claus. Yep. Well, except for the license. Driver's license says Claus Santa. That's just the way they do it on a license. I don't know. But yes, that's my legal name. So your legal first name is Santa.

Your legal last name is Claus. Absolutely. Let's start at the beginning. You were not born with your first name being Santa officially. You were born Frank, right? Your first event as Santa was in 1995. What kind of work were you doing before that? I was designing fire sprinkler systems. So you protected the Santas going down the chimney? Absolutely, yes. No kinamifies here. Excellent. And then after doing one family event as Santa, you sort of got discovered in Macy's. Is that right?

I actually brought one of my sons, who happened to be born on Christmas Day. Of course. Whitened my beard, and I put my black hair up under a hat and we were standing in line and Macy's noticed me and the way I was handling the people. And they asked me for an interview. And how was that? The interview took three hours and we went back and forth with stories. They ended up asking me to apply. And unfortunately they had a weekend center and that was all I could fit in because I had a regular job. So they couldn't hire me because they didn't have any weekend positions. About a week later, they called me up and they said, we really think you would be a good fit.

We had to let the weekend center go. So there it is. I started working in Macy's and I was there for about five years. So if you're Santa, working in Macy's is like being a gymnast and going to the Olympics, right? Like it's the big leagues. It's pretty much, yeah. It's like instant respect. I mean, people come from around the world to see you. Do you remember what was asked during that long interview process? What the application was like? Well, the application was like it was in the movies. And of course, I answered the questions the same way. You know, what's your age? And I said, well, I'm I'm as old as my tongue, but a little older than my teeth. And that immediately got them thinking that I was insane.

But at least they knew I knew the movie. Other questions, I really don't remember what they asked. But we ended up having a lot of personal conversation. Like he spoke to me about, you know, his sister and drug problems. And I talked about my family and just things that happened in my life and they were parallel. And I made the guy cry. Wow.

In a good way. Yeah. So it sounds like there was some Santa knowledge, trivia, but also your overall disposition, how you'll interact with people, how you'll make them feel. Absolutely. Life has too many problems. I'm not going to be one of them. I'm going to be the one who tries to get you to forget about them. That. So I designed my own suit and I had a seamstress make it for me. It's real fox fur and it's real cashmere wool. They're all custom made.

Only the best for Santa. I want to be as real as possible. Let's get to the name change really quickly. What was that process like? I read that when you changed your name to Santa Claus, the Supreme Court Justice in Suffolk County had to double check that you weren't changing your name to hide from the law, basically. Basically, anybody who changes their name has to go through the same process.

It wasn't just for me. They wanted to make sure I didn't owe anybody any money and I was trying to get out of it. They wanted to make sure that I wasn't a fugitive from another country or a state for drugs deals. Or, you know, I just wanted to make sure that it's safe to change my name. And, you know, the judge did a wonderful job. It took about three hours. And I was in the back of the courtroom the whole time. And after about three hours, the judge comes out, you know, and she's a little woman.

She's like elf size. She was like four feet tall. And instead of the bailiff going all rise, she comes walking out and she goes and she walks around the desk and she goes by the fence and she just looks out into the audience and goes, Santa? Oh. And I stood up and I went up to her and she she puts her arms out and hugs me. She goes, look, you see what you see what I have to deal with every single day.

You made my year. From now on, you're known as Santa Claus. I love that. It was and it was great. Has the name ever given you grief? I mean, you must get stopped by TSA in the airport all the time. Well, I have that that quick, you know, stopped by TSA in the airport all the time. Well, I have that quick, you know, that you don't have to wear your shoes thing,

the TSA pass. And they get a good kick out of it. They look at my driver's license, of course, and they bring everybody over from the other booths. Sometimes we take pictures. I was in, I forget what airline it was, but the pilot found out that I was On the plane So before they took off He called me into the Into the cockpit And I look at him and I go Aren't you going to get in trouble for this?

But we ended up taking selfies It was good Are you always wearing that outfit? Well, I mean, I'm always wearing something red. It's kind of hard to hide who I am. The air point. Let's fast forward to the present. Can you take us through an average day in the life of your life as Santa in December?

Absolutely, I can. I have to check my messages. Usually I do it before I get out of bed because there's about five or six of them. You know, are you available this day? Is there anything you need for today's visit? Stuff like that, which I guess most people don't have to go through, but it's great. I love to do it. Fluff my hair, my beard a little bit, take a shower, get online, answer a whole bunch of questions on Facebook. I try every single day to say something uplifting so that, you know, people start their days off in a nice mood. I get some feedback. I go to my first, you know, I go to my first event. It could be breakfast with me.

It could be, you know, a child's birthday. It could be an old folks home. It could be a hospital. Anything is possible. I have about anywhere from three to five events every single day. Christmas Eve, I have 13 events. Christmas morning, I'm going to be on the news with Fox and Friends. Then I'm going over to visit the Yankees. And then I'm going to go to another three houses to have breakfast, lunch, and dinner. So it gets pretty hectic. And it's exhausting, but it's so much fun. You also have your finger on the pulse of what toys kids want this year. What is most popular? The most popular that I've never, never realized it would be is it's a mug. It's a water mug.

And it's called the Stanley Cup. Now, before I realized what it was, I was like, I can't steal the Stanley Cup from the National Hockey League. And they're like, no, what are you talking about? Until I finally, you know, spoke to the elves and they told me what it was. So, but that is one of the most, that and Legos. What's the most extravagant gift a kid has asked you for? I mean, the real Stanley Cup would probably be one,

but whatever. No, they've actually not asked me for the real one, but I've been asked for cars. And I say, you know, a full, yeah, they've actually not asked me for the real one, but I've been asked for cars and I say, yeah, they want the car. I want a Jaguar. And then I look over at the father and I'm like, did you tell him to tell him this? No, no, no. That's what he wants. I would say cars. And you're Santa all year round, right? You do weddings. You have your side hustle, Santa's barbecue. You are Santa full-time. That is your full-time job.

That it is. So what are the other months like for you? January, I usually sleep until February. Then when the summer starts to kick in, of course, I try and get people together to collect toys for Christmas in July, which not many people really understand what that is. People just think it's another time to take pictures. No, it's in Australia, it's winter. So they celebrate Christmas in July. It's also for us to gain, to get presents together together to give to the

needy. So I do a lot of charity work. Then the barbecue season starts. So that takes me up until like September. And then September, I'm already doing photographs for families that want to make Christmas cards. So I have maybe 12 professional photographers and they all grab the weekends and I'm busy again. On Money Rehab, I have my own naughty and nice list, but I am the ultimate money nerd. So on my nice list are the people who have been keeping up with beautiful, good financial habits. You have many streams of income, Santa, which I love to see. So you're definitely on my nice list. Have you been financially naughty or nice this year?

Hold on to your wallets. Money Rehab will be right back. I love hosting on Airbnb. It's a great way to bring in some extra cash. But I totally get it that it might sound overwhelming to start or even too complicated if, say, you want to put your summer home in Maine on Airbnb, but you live full time in San Francisco and you can't go to Maine every time you need to change sheets for your guests or something like that. If thoughts like these have been holding you back, I have great news for you. Airbnb has launched a co-host network, which is a network of high quality local co-hosts with Airbnb experience that can take care of your home and your guests.

Co-hosts can do what you don't have time for, like managing your reservations, messaging your guests, giving support at the property, or even create your listing for you. I always want to line up a reservation for my house when I'm traveling for work, but sometimes I just don't get around to it because getting ready to travel always feels like a scramble, so I don't end up making time to make my house look guest-friendly. I guess that's the best way to put it. But I'm matching with a co-host, so I can still make that extra cash while also making it easy on myself. Find a co-host at Airbnb.com slash host. One of the most stressful periods of my life was

when I was in credit card debt. I got to a point where I just knew that I had to get it under control for my financial future and also for my mental health. We've all hit a point where we've realized it was time to make some serious money moves. So take control of your finances by using a Chime checking account with features like no maintenance fees, fee-free overdraft up to $200, or getting paid up to two days early with direct deposit. Learn more at Chime.com slash MNN. When you check out Chime, you'll see that you can overdraft up to $200 with no fees. When you check out Chime, you'll see that you can overdraft up to $200 with no fees. If you're an OG listener, you know about my infamous $35 overdraft

fee that I got from buying a $7 latte and how I am still very fired up about it. If I had Chime back then, that wouldn't even be a story. Make your fall finances a little greener by working toward your financial goals with Chime. Open your account in just two minutes at Chime.com slash MNN. That's Chime.com slash MNN. Chime feels like progress. Banking services and debit card provided by the Bancorp Bank N.A. or Stride Bank N.A. Members FDIC. SpotMe eligibility requirements and overdraft limits apply. Boosts are available to eligible Chime members enrolled in SpotMe and are subject to monthly limits. Terms and conditions And now for some more money rehab. I think I've been financially nice. And I got to give credit to where credit is due, though.

I was taught many years ago, maybe, I don't know, maybe 30, 40 years ago, that you just you can't keep all your eggs in one basket. And the wonderful being that taught me this was, of course, the Easter Bunny. Yes, financial icon for many. Absolutely. You must diversify. You must diversify, says the Easter Bunny, your homie. The New York Times profile on you shared some of the pricing for your work. They said you charge about $400 to officiate a wedding and for other events and parties, you charge between 500 bucks and 700 bucks an hour. Is that right? Well, 700 bucks, no.

500 bucks an hour is from Manhattan and 450 now for Long Island. Christmas Eve is $400 for a half an hour. And like I said before, I have 13 visits scheduled for this Christmas Eve. What's your biggest moneymaker in your work? Probably the country clubs because they hire me for two days straight.

Ooh, how much is that? I'm not going to go into it. It's a good amount. You know, of course, they give me a check and a 1099, so I have to pay taxes. A lot of my money comes in with the 1099 attached to it. So the government is getting what they deserve. Yes. Not too happy about it, but you know.

They should. Come on, I live in the North Pole, just because I'm working here. Is the North Pole good with income taxes like Florida, Texas? Well, the North Pole isn't actually part of anything because I'm far enough into the ocean where I'm in international waters. So technically, I shouldn't have to pay taxes at all unless I work in a state. You know what I mean? So I do a lot of work in Manhattan and Connecticut and New Jersey, and then I pay taxes for that. But yeah, see, the North Pole used to be a town that was visible.

But with airplanes and all of this technology they kept on finding me so we finally we finally constructed a huge dome in the arctic ocean and the only way to get there is to create a polar vortex which opens a funnel all the way down to the top of the dome and then with with the little remote control that i have in the sleigh, I can open that dome once the neighbors add it away. I should tell the IRS about this. Maybe we should appeal. What, you're going to tell them? I'm good.

I would love that argument. Be like, exempt from paying taxes, lives in the North Pole. That's right. To see how that goes. And not for nothing, but, you know, I have to pay for all of the supplies for all these toys. Yeah. I mean, how much does it cost to be Santa? You mentioned your designer suit. Everything is custom. You must have decorations in the house. How expensive is it to be Santa? Costs about $650. The fur for my suit is $2,000. Oh.

Then you got to buy, you know, I have my custom-made boots from their Tims. So they gave me a special green color, which kind of sort of matches the chair you're sitting in. And they put my initials on them. Oh, yes. And candy cane striped boot laces. Adorable. How many of those do you have? Well, I have two sets of boots. I have three sets of suits. And so those are the main expenses of being Santa? Yes. Well, the cleaning, the making sure my black roots are white. That's a big expense.

So you dye your beard regularly? Yeah. If I was really Santa Claus, I'd be 1,765 years old, but technically I'm only 65 and I still have black roots. You might be the only one who is trying to cover the black roots with grass. Oh yeah. I'm in reverse as far as everybody else. Yeah. So how much would you probably make in a year, would you say? Let's just say it's more than I made in my regular job. This enabled me to retire. But you're not retired.

I'm not retired from the things I want to do. I'm only retired from the things that aggravated me. So you don't consider this work? Not at all. I mean, getting up early is still tiring, but once I'm there with the kids and with the families, it's not work. It's nothing near work. It's that old, if you find something you love to do, you'll never work another day in your life. I'm there. You're a living proof. I understand what they mean. I'd love to do a speed round if you will indulge me with some quick questions.

Okay. What's your favorite Christmas movie? I guess it's A Wonderful Life. What's the best Christmas gift you've ever received? It was a letter from an old woman's son who I had visited the woman when she was dying of cancer. And he gave me a letter that said, you have no idea what you've done. When you walked into the room, there was an 80-year-old woman dying of cancer. And when you left, there was an eight-year-old girl. That's the best thing I've ever received for Christmas. Of all of the actors who played Santa, who is your favorite? I tend to lean towards Tim Allen. Next, I'm going to give you a scenario,

and I would love if you could tell me if it's naughty or nice. Ready? Okay. Regifting a Christmas gift. You know, if you're not giving it to the person that gave it to you, I see nothing wrong with it. Showing up to a holiday party without a present. Naughty or nice? Oh, that's naughty. Giving out handmade gifts. Giving out handmade gifts is like giving out love. Putting coal in a stocking. Nowadays, that's not bad. You know, a lot of people use the coal for cooking, you know, on their barbecues. There are some people that still use it for heat. So I would say it's an iffy. It's a gray area.

One lump of coal? Yeah, yeah, it's a gray area. Kids love coal. They love, they want to get it. But what I do now is I get a clear plastic bag with not topsoil, you know, real crappy soil. And I put it in the bag and I poke holes in it. And then just before I leave, I pour water in the bag. Now that's better than coal. That's the naughty gift. Also, there's a naughty gift of the exploding glitter bomb. Yeah, where you can never clean it, never pick it up. Nobody wants to get glitter in their eyes. And that thing just

explodes all over the place. It's a sneak attack naughty one. in their eyes and that thing just explodes over the place. It's a sneak attack naughty one. Yeah, exactly. Sneak attack, not for your loved ones. Keeping your Christmas tree up past New Year's. I see nothing wrong with that. I do it all the time.

Not writing thank you cards when you get a gift. Naughty or nice. Oh, you know, it probably is naughty, but I'm guilty of that. Giving a gift card, naughty or nice? You know, for some people, especially wives who won't tell you what they want for Christmas, giving them a gift card for their favorite store or giving them cash is a wonderful thing. You know, Some women just expect you as a man to know exactly what they want. Let's clear this up. I mean, I checked the list twice. Can you imagine what a regular husband has to do? Ask every which way. Ask 50 times. Never give us clues. Say exactly what you want. I think giving cash is very nice. Being a Grinch.

Naughty. Not good. Calling you Frank instead of Santa. Oh, very naughty. Very. The only person who gets away with that is my Mrs. Claus, who refuses to be called Mrs. Claus. That was my next question. Returning a Christmas gift you didn't like to the store. There's really nothing wrong with that. I mean, if you're just going to put it in a drawer or maybe putting it in a giveaway bag is better, but bring it back, buy something you like. There's nothing wrong with that. I'm Jewish. Am I on your naughty list?

Not at all. As a matter of fact, Hanukkah Harry lives up at the North Pole with me, and he uses money elves to make the gifts that you guys get. Okay, Santa, I end all of our episodes by asking our guests for a tip that listeners can take straight to the bank. What kind of advice would you give someone who wants to give a great gift, but not break the bank? Handmade gift would fall right into that category. A handwritten card, you know, instead of getting just a Christmas card that has a picture of you and your family on it,

put something nice on the back. Think of them and it'll help steer you in the right direction. Well, Merry Christmas, Santa. Merry Christmas. Happy Hanukkah. Money Rehab is a production of Money News Network. I'm your host, Nicole Lappin. Money Rehab's executive producer is Morgan Lavoie. Our researcher is Emily Holmes. Do you need some money rehab? And let's be honest, we all do. So email us your money questions, moneyrehab at moneynewsnetwork.com

to potentially have your questions answered on the show or even have a one-on-one intervention with me. And follow us on Instagram at Money News and TikTok at Money News Network for exclusive video content. And lastly, thank you. No, seriously, thank you. Thank you for listening and for investing in yourself, which is the most important investment you can make.