Growing up, my parents made about the same amount of money, which wasn’t all that much; we were solidly on the lower end of the middle class. As far as I was concerned, we were fine and when I would picture my life someday as an adult, I never imagined or aspired to make a significant amount of money, let alone to be rich. And when I reached the age where day-dreaming about my eventual romantic life became a regular pastime, I never considered that I could or would have anything different than the setup my parents had. My husband and I would contribute 50/50 to the household; it wasn’t even a question.
Years later, as an independent single woman, I’ve of course realized that there are many ways to divide up responsibility in a household. I’ve also realized that my earning potential is beyond what I ever thought it could be, even as recently as five years ago. I am profoundly lucky. That, along with my status as a single 30-something with a strong desire for children, has made me think long and hard about how different my role as a hopeful wife and mother might end up being in comparison to what I had envisioned. Female-breadwinner households are the subject of Time‘s cover story this week, which examines how this trend (which is likely to be more common than male-breadwinner household in the next generation) has affected male and female relationships. The piece resonated with me because one of the things I have concluded is that, in the right situation, I would be happy to be the primary earner in my family. Keep reading »
The term “classy” winks at, well, the upper class. When we say someone has “class,” we mean to say that such a person is refined or even elegant in their behavior and the way they carry themselves, in a manner that’s typical of a higher caste. It suggests that people who are born into, or climb into, a higher social echelon are better-behaved, have better taste, and are all-around better.
As anyone who’s ever read an F. Scott Fitzgerald novel or grown up in a wealthy setting can attest, that belief is downright laughable. Keep reading »
My Jean-Paul Gaultier gold bar isn’t like the rest of my gold bars. It’s emblazoned with designer Jean-Paul Gaultier’s name and logo, for chrissakes. That means it cost a premium — like 10 percent more than the common gold bar, just because it has Gaultier’s name on it. So of course I can’t put it with the other gold bars. But also! I can’t just leave it out on the coffee table. Someone might mistake it for a very, very heavy coaster and accidentally put their glass of 1978 Montrachet on it. Embarrassing gaffe! The mantle? Then I’m afraid nobody will notice it and realize that I spent $1,826.33 on it (plus a $25 handling fee, duh). Won’t somebody come up with a Jean-Paul Gaultier Gold Bar Display Case? Come on, help me out here. [Telegraph UK]
Say it ain’t so! TLC member T-Boz, one of the ladies who just a few years ago sang about wanting “No Scrubs,” filed for bankruptcy today. T-Boz — real name Tionne Watkins — owes more than $768,000 to creditors, most of which is related to her $1.2 million home. Ms. Boz does have money coming in – she makes around $11,700 a month in income and spends around $8,800 — but she hasn’t been able to make any headway on her nearly million dollars of debt. She’s also claiming that a portion of her outstanding debt is related to unpaid child support bills, totaling somewhere around $250,000. [TMZ]
Of course, T-Boz is hardly the only celeb to file for bankruptcy After the jump, some other celebs who blew their fortunes.
I’m proud of the fact that, I achieved a couple major financial goals in my 20s, namely paying off all my credit card debt and building a career that has allowed me to save money every month. But this November, I will turn 32 — hmm, that’s sort of upsetting to actually see written down — and it’s time for new goals. I was planning on writing about the financial goals I plan to achieve by age 35, but upon realizing that I really only have three years until then (for some reason, I felt like my 30th birthday was yesterday), this list is now going to have a more general timeline. Won’t you join me and list your goals as well? Keep reading »
I’m not even going to sugarcoat it: I’m basically the poster child for the white girl from the suburbs whose dad just took care of all the bills growing up and never taught me anything about finances. They were traditional that way: Dad handled money stuff and Mom handled childrearing stuff. My parents never gave me spending money and I always babysat and worked after school jobs. However, other than generally teaching me that I had to earn my own money, neither of them talked me to at all about saving, investing, 401ks, interest rates, or any of that other its-like-speaking-another-language stuff. I had to read blogs and buy books to myself about money (Nice Girls Don’t Get Rich by Lois P. Frankel is a good one). Still, I wish I’d made some financial decisions differently. (Luckily, I’m only 27, so it’s not too late to start!) Keep reading »
Kim Kardashian has set a wedding date—August 20th. And it is going to be one of the biggest displays of extravagance we’ve seen in a long time. The word on the street is that she is hiring a fleet of Maybachs and Rolls Royces—two of the world’s most expensive cars—to bring her guests to her wedding. I’d like to criticize this, but I guess you can do such things when you have the cash just laying around, or if you know People is going to pay you $1,000,000 for the exclusive wedding photos. The way I see it, if Kimmy wants diamond confetti thrown at her on her special day, that’s her prerogative. She’s only going to get married (again) once, right? (Right?) Either way, we guess there are a lot more ridiculous things one could spend their fortune on. Click through these photos to see some of the most insane things celebrities have done with their money. Keep reading »
One of my weird quirks (that I forgot to mention last week) is that I very, very, very rarely get a receipt when I take cash out of the ATM. (I do when I make deposits so that I have a record.) I don’t want to know my balance, even if I know I have money and I don’t need to worry about being overdrawn. I just don’t like to see how much money I have in the bank. However, I would get a receipt and frame it if my balance was $99,864,731.94, like this Capitol One ATM receipt indicates. The website Dealbreaker said the receipt– which was found sticking out of an ATM on Long Island — reportedly belongs to billionaire hedge-fund manager David Tepper, though he implied in a response that it wasn’t his, saying that he hasn’t touched an ATM “since Lehman” and “would never do something as irresponsible as leaving $100 million in a savings account.” Whatever, Tepper, don’t call my soon-to-be new boyfriend — if I can find him — “irresponsible.” [NY Post] Keep reading »