spending habits

The Cost Of Living The Celeb Life

Everyone has their own vice, but when you’re a celebrity, they are usually more expensive…and everyone seems to have an opinion about it!
Some people, while judging celebrities’ expensive lifestyles think it’s an absurd and pure ostentation, but until what point is it really?

Put yourself in their places and reflect, ; if you were a celebrity that makes enough money to cover your vices, wouldn’t you do the same?

Products as Personal Branding

Celebrities also get a lot of products just to be seen wearing it or even get it for modeling the product. Ashley Olsen who got the Louis Vuitton Urban Satchel for modeling for the product, and she’s not the only one, there’s plenty of others. A lot of celebrities buy it not only as an impulse buy or because of a vice but also as an investment, because they understand that they are ‘the product’ and that they HAVE to invest in the product to make more money. And of course, having limited edition products that cost a lot when you purchase it means that in the future it’s going to be worth so much more, so it’s a good investment both ways!

How much for the…

Handbags have always been the mother of every girl addiction, it’s a must have item for girls of every age, an item that every girl everywhere when asked, will always tell you that got her first one in their childhood. They are a great way to carry stuff and accessorize your look, so why not love it? Every woman probably has already experienced stars in their eyes when seeing the most beautiful handbag that they have ever seen. At that stage in time it’s a done deal; if the value is reasonable, the girl will put their time and effort to save money enough to buy it. When the price is completely outrageous, the bag’s worth will grow even more, and before they know it, every conversation will start with “I saw the most beautiful handbag’.

But when you are a celebrity, most of the times the dream become true, even if it is not something you have seen already, it’s just something you have thought or even dreamed about one night, like Lady Gaga ‘s Meat Handbag, Emma Watson’s Chanel Classic Diamond Forever Handbag price tagged $261,000 and Victoria Beckham Hermes Birkin Bag that cost $120,000.

It isn’t only female celebrities who spend a lot on their vices, celebrity men have been speding just as much, if not more than the women.

Men and their Motorcars

How can we expect that the male celebrities should sit at home and watch the football game while their female counterparts are out on the town spending money on fashion and fois grass. These guys have been working just as hard, and their innate need for anything that speeds, cannot be ignored.

Like Jerry Seinfeld’s sport Car Porsche 959 that costs $7000,000, Nicolas Cage’s Ferrari Enzo price tagged at $670,000 and David Beckham’s Custom Rolls-Royce Phantom Drophead price tagged $407,000.

Party Rockers in the House

Then there are habits that didn’t come with them since their childhood, these habits and hobbies were born in their teenage year. One of these status symbols is most defintely being the host of one of the biggest parties in Hollywood. As a celebrity host, nothing can be average when it comes cuisine, champagne and entertainment. Not all these real estate expenses are just for entertainment and display of wealth, but because these stars live their lives in the public eye, they make purchases focus on privacy as well.

Think in the lines of Private islands and mansions, a hidden place where they can go to escape the high life, the paparazzi, drama and bustle of their lives, but also, it’s an easy way for them to estabilish themselves as members of the high society.

Rihanna’s Pacific Palisades Mansion with 11,000 square-foot, 7 bedrooms, 9 bathrooms, 14-foot ceilings, a hot tub, swimming pool, sun deck and a 6,000-sq.ft. Garden is valued at over $12,000,000. Ozzy Osbourne’s Mansion with 10,953 square feet, 6 bedrooms, 10 bathrooms, swimming pool is worth $10,000,000 and Billy Joel’s Miami Beach Mansion with 303,310 square feet worth $35,000,000.

These are just a few things that celebrities like to spend their time and money on. “Lifestyles of the rich and the famous, their always complaing” as Good Charlotte would say, does not seem to be very far from the truth. One thing is for certain, if this had to be one of our lives, you wouldn’t hear us complaining.

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Having attained a formal education in Finance (Msc. in International Economics) Simon was inadvertently drawn towards finance blogs and extended successfully upon it by contributing to savings and family finances blogs as well. He is a long time contributor of the financial Blog of the UK short term loans provider Poundaccess, where you can read many of his writings.


How to Save Money when Going Out

How to Save Money when Going Out

The economic recession has come with its set of hardships and lessons that will stay with us for a while now. Those who lost their jobs realized the importance of savings. So whether it is your proactive nature or tough financial situation that is forcing you to spend wisely, the following tips will prove to be helpful.

Coupons

Gone are the days when coupon cutting was considered cheap. So cut coupons from newspapers and hunt for them online too. The rise of major coupon selling websites such as GroupOn, Living Social and Retail Me Not have made people even more aware of the phenomenon and given them easy access to lower priced options. The trick to use coupons in a beneficial way is to plan ahead. Yes, today coupons are available for almost every product and service category so note down your needs in advance and search for coupons. Use them when required and you’ll end up saving up to 90%!

Dine ‘Out’

When eating out, what is that you restaurants, cafes and other eateries for? Food and? Ambiance is the answer. Yes, it is that need for a change in your daily mundane lifestyle that drives you to go to restaurants. Save money by preparing something different to eat and go out for a picnic with family or friends to a location such as a park. If there is a convenient location near your office, go there twice or thrice a week with your lunch pack and feel the difference.

Carry Less Cash and no Plastic Money at all

Some people have a very freehand. The more cash they have in their wallets, the more they end up spending on a trip. If you are one of them, admit it and stop carrying cash around that you think will get spent up unnecessarily. And don’t forget to forget your plastic money at home!

Monitor Transportation

Transportation is one of the things that have a lot of room for saving. There are a lot of factors that can help you save on transportation. If you do want to save up on conveyance consider the mode you adopt to travel. If you have two vehicles at home, prefer the one that consumes less fuel even if it is your spouse’s. If you travel to a certain location on a daily basis, consider opting public transportation instead. If you drive to nearby locations such as your college every day, consider walking to them instead. Not only will you save up on fuel, you might even be able to replace the walk by tread-milling at the gym, which means saying bye to another cost.

Travel Smart

When visiting new places such as a city or even a country, keep your back pack stuffed with all the things that you think you could possibly need. Certain locations such as airports and other tourist populated areas charge higher than usual prices. So it is better to keep in stock items that you know you’ll need such as camera cells and mineral water.

Allan has been writing about personal finance for a couple of years. His favourite topics include savings strategies, term deposits and savings accounts. When he is not blogging, Allan loves spending time with his family.

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Adjusting to New Financial Constraints

Adjusting to New Financial Constraints

The nation’s economic downturn forced many people to reassess their lifestyles. Homes that once seemed like natural components of the American dream soon became weighted shackles of unrelenting debt. Then things like that modest boat that made you feel like you were living the good life soon started looking like a gas guzzling money pit. The smart ones have found clever ways to ride out the economic storm, but it hasn’t been without sacrifice, even if it’s just skipping the big annual vacation or the not-so-simple decision to choose a less expensive college for your child. But sadly, there are plenty of people out there still living beyond their means.

Have a look at these scenarios to see if you’re one of them…

Credit Crazy

If you consistently buy things with money you don’t have then you are quite obviously living beyond your means. To avoid some serious financial repercussions, credit should be used sparingly not like it’s Christmas every week. If you use shopping as therapy or a form of self-medication then do your best to get to the route of why you can’t effectively simplify your life. Credit debt that doesn’t get consistently paid down is just bad business for your own personal finances, so get it under control as quickly as possible. The upside is that once you do start living without your means you’ll most likely appreciate your simple life in a way that you never did the lavish one.

Loan Looney

Like with credit debt, if you keep taking out loans for stuff you can’t afford you’ll just keep sinking, and at a rapid rate. Granted, some expenditures are necessary and may in fact better you life, like furthering your education, starting up a business, and the like, but be sure you have a game plan and the means to repay that loan as quickly as possible. And don’t take advances on your paycheck unless you are in some seriously dire need because the fees for such things are incredibly costly. Instead, learn how to make do with what you’ve got or work up a new plan.

Robbing Peter to Pay Paul

Even if you’re not living a lavish lifestyle if you find that you are constantly robbing Peter to pay Paul then something has to change if you can ever have any hope of getting ahead in life. That might mean downsizing considerably, getting a new or second job, and making any other changes-big and small-to help better your financial situation.

Times are tough, there’s no doubt about it but if the old lifestyle can no longer be maintained, then things quite simply need to change.

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