If you have a teenager nearing prom age, hopefully you’ve got good credit. Between dresses, flowers, limo rides, and hairdos, the average family with a teenager is expected to plunk down a whopping $1,078 on prom this year, up from $807 last year, according to a new Visa survey spotted by USA Today. “This is social-arms-race spending,” says the head of Visa’s financial education programs. “It’s extreme.” Read more …
riving in a Rolls Royce, getting a bodyguard, flying on a private plane: These aren’t normally things that New York Times financial reporter Kevin Roose gets to do. But as a guy who writes about billionaires, he wanted a chance to live like one for 24 hours, he explains in a first-person article. It’s a key “paradox” of our times: While many of us are furious at the rich, we’re still fascinated by them, he writes. Read more…
My husband is my best friend in the world. I’m sure I’ve caused several cavities just by saying so, and can hear a few of you making gagging noises through my computer screen right now. But hey, it’s true. He’s amazing and he understands me better than anyone. He’s the only person who doesn’t annoy the crap outta me after long periods of time, and he laughs at all of my jokes. He’s also totally hot and you should all be extremely jealous.
That said, I have absolutely no desire to share my spending habits with him. Keep reading »
Earlier this month, Jennifer Aniston popped into a vintage lighting store in New York City and dropped $20,000 on lights for her LA mansion (meanwhile, in Real People Land, we’re debating whether or not to drop 30 bucks on a lamp from IKEA). Obviously $20K is nothing when you’re a super rich celebrity like Aniston, who earned an estimated $28 million last year. Jen’s not the only celeb flexing her buying power. Click through to check out 10 other mind-boggling celebrity shopping sprees… [Us Weekly]
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 »