Money Walks

Personal Finance Blog - Save Money

November 30th, 2006

Paris Hilton’s Retirement Plan

As of this post, Paris has 202 days, 6 hours and 15 minutes until she retires.You’re probably asking, “What does she have to retire from? Her sex tape?” That’s the same question that I had when I first had came across an article from MSNBC, but apparently it seems that she planshiltonparis88454.jpg on retiring from her public life within the next year.

It appears that the general image that we all have of Paris is not quite the case. She claims that she is just acting up when she’s in public and that she is a business woman at heart.

“I think maybe when I was younger, I thought it was cute to play the dumb blonde,” she says. “On TV, I do it because it’s funny. I consider myself a businesswoman and a brand.”

I don’t know how serious this may be, considering she still spends a million and 5 minutes on her cell phone with her hair stylist. But it seems that when she is talking about her business ventures (Paris Hilton perfume, jewelry, nightclubs and dog accessories, not to mention her movie career), her inner airhead gives way to a voice that’s much slower, deeper and (dare we say?) serious.

I can tell her that she’s a lot smarter than the woman who once asked if Wal-Mart was a place to buy walls. Then she’d respond telling me ” I know exactly what Im doing…”

Whatever may be the case, she has managed to make her self an icon. There is one thing that I want to point out what she does whenever she’s in public, and I think its brilliant. Wherever you may catch her, be at a party, a club or in just in front of a camera, I noticed that she always, intensionally or unintentionally, advertises things she’s affiliated with. This is brilliant because she’s helping those companies whenever she talks about where she got her designer dress from or where she went clubbing the previous night, or even if she talks about how she got her burgers from McDonald’s. Paris does this quite often and I’m sure whoever is the receiving end, they’re saying to themselves, “Thank god she talks so damn much.”

Well, according to Newsweek, Paris plans on retiring sometime near June / July of 2007. I’m not sure exactly how accurate this date is but I like set dates so I’m gonna take it.

Here’s some interesting quotes from Paris. Knock yourself out.

  • “Every woman should have four pets in her life. A mink in her closet, a jaguar in her garage, a tiger in her bed, and a jackass who pays for everything.”
  • “Who are you wearing?”
  • “Thank you, officer. We love the police.”
  • “I don’t really think, I just walk.”
  • “Wal-mart… do they like make walls there?”
  • “It will work. I am a marketing genius.”
  • “This is Earth. Isn’t it hot?”

More info…

Hilton Hotels
Recent Price $25.31
Market Cap $9.74 billion
52-Week High/Low $18.78 / 29.22
November 29th, 2006

Top 5 cities to buy a home

So your looking in to buy a home? Well if you have the patience to buy and to hold these properties, then these opportunities can hold a great deal of returns. These are the top 5 cities, where to buy now, Check em out!

  1. Panama City, Florida
  2. Vero Beach, Florida
  3. Bridgeport, Connecticut
  4. Lakeland, Florida
  5. McAllen, Texas

 

panamafl.jpg1. Panama City, Florida. Panama City now is poised to host big airliners, which in turns means more visitors and a lot more buyers. In 2008, the state and the local government and top regional developers are planning to build an airport thats gonna be over 300 million dollars in costs. Locals expect the airport to open up the region and bring in some aggressive traffic.
The projected gain in 5 years

 Median home price
2006: $223,000          72% Increase
2011: $383,00

 

vero-beachfl.jpg2. Vero Beach, Florida. The weather down here is great, has low property taxes, and a cost of living 3% lower than that of nearby West Palm Beach make this town an affordable place to live. Expert says that vero beach is at high risks in the short term but will move up in the long run.

 

Median home price
2006: $235,000          64% Increase
2011: $386,000

 

bridgeportct.jpg3. Bridgeport, Connecticut. The last place you’d expect to find under valued houses is in the Fairfield County, home to towns like Greenwich and Darien. As more businesses have left New York for Greenwich, more middle-class workers like entry-level professionals, executive assistants, and so on will have come too, and they’re keen to take advantage of bargain prices.

Median home price
2006: $480,000          63% Increase
2011: $784,000

 

lakeland-florida.jpg4. Lakeland, Florida. Here in lakeland, a house goes for a fifth less than the national median of $227,500, and Lakeland is just 30 minutes from Tampa, which is swarmed with 2.7 million people that’s projected to add almost 210,000 more residents over the next five years. Not to mention, Meritage Homes, one of the fastest-growing U.S. builders, plans to build more than 1,300 homes in the area by 2008.

Median home price
2006: $178,000          59% Increase
2011: $282,000

 
mcallen-texas.jpg5. McAllen, Texas. This place is mainly latinos, 80% at that, and experts are saying that Latino families are larger than the average caucasian families. At 3.8 members being latino and , on average, and compared with 2.4 for Caucasians. “These border towns have a housing shortage,” Cochrane says. “There’s pent-up demand. They’ll be looking for more space and better space.”
 
 

Median home price
2006: $70,000         57% Increase
2011: $109,000

November 28th, 2006

6 Things you should know before buying a home

house.jpgBuying a home could very well be one of your most crucial and important decisions in life. It is always better to spend some time in analyzing your needs, budget, advantages and what exactly will suit the best your requirements. Here are some hints and tips you should know before going house hunting.

  1. Start by getting your credit report. Unless your planning to buy your house in full, you will need to get a mortgage. Its wise to get your credit report couple of months in advance before house hunting so that you can straighten out any problems you might discover.
  2. Aim for a home you can afford. Dont make the mistake that most americans make by buying a house that will put you way over your head. There are plently of online calculators availible that checks your income, debt, and other expenses. Check it out here!
  3. Dont worry if you cant put the usual 20% down. There are plenty of lender, if you qualify, who offers low mortgage interest rates with down payment as small as 3%!
  4. Buy a home thats close to alot of good schools. Even if you dont have children who could benfit from these schools, when it comes time to sell, you’ll learn that strong school districts are a top priority for many home buyers, therefore helping to boost property values.
  5. Before going out to house hunting, get pre-approved. This way you dont waste time looking for houses that you cant afford. This way, when you find the right house your in a better position to make a serious offer.
  6. One final tip is to hire an house inspector. Although your lender will require a home appraisal but that’s just the bank’s way of telling you whether the house is worth the price you’ve agreed to pay for. You  should hire your own house inspector, preferably an engineer with experience in doing home surveys in the area where you are buying. His or her job will be to point out potential problems that could require costly repairs down the road, which is a huge money saver.

Now keep in mind, you shouldnt buy a house just because you can afford it, make sure it fits your lifestyle as well. House hunting can be very fun and exciting but also can ve stressful, I hope this list helps.

November 27th, 2006

5 Reasons why people are in debt

Investing in stocks and in index funds is great, but the best investment you can make is paying off your debts. Did you know that a typical credit card purchase ends up costing 112 percent more than if cash were used. Thats amazing, here is 5 reasons why people are in debt:

  1. People are convienced that they can afford more than what they actually can. This is sad but true.They feel that they have to have that car and most people live in houses that they cant afford. Some 40 percent of American families annually spend more than they earn.
  2. We have accepted that debt is a acceptable way to live. People think that as long as its manageable, everyone is able to live up to the american standards.
  3. Not saving up for emergencies. This is a huge one. No one can tell you when emergencies are gonna happen or when theyre not going to happen. So, people figure nothing serious is gonna happen to them and before you know it, their car engine dies or they get a call from the hospital. Situations like these are perfect times to put your worries behind that credit card. FYI, The personal savings rate in the United States has dropped from 8 percent in the 1980s to just under 2 percent since 2000.
  4. People are impatient and dont know how to manage their money. Almost everyone agrees that having a credit card can be a life saver, 9 of 10 Americans claim credit card debt has never been a source of worry. That is not to say its because there is nothing to worry about. I think that people have very little training in money management and it pains them to think about their responsiblities when paying back your debt. Most people dont know how to control their spending and cant wait for their next paycheck so they put it on their credit cards.
  5. Creditors convince you to live outside your means. Studies show the average consumer is exposed to more than 3,000 marketing messages every day. In the last decade, it’s been estimated, solicitations jumped from 1.52 billion annually to 4.29 billion. Before WWII, we werent bombarded with advertising masages like we are today and back then they used cash, they didnt spend what they didnt have. Now, we have thousands of people trying to tell us things that we need and why we need it and trying to concience us how we cant live without them.

Now heres some interesting facts about debts in our country.

  • Some 1.6 million U.S. households and one of every 73 filed for bankruptcy in 2003.
  • There are roughly 1.2 billion credit cards in use in the United States.
  • Average per household debt in the U.S., not including mortgage debt, is about $14,500.
  • Average card debt among people who have at least one card is $9,205 — triple what it was in 1990.
  • Last year the credit card industry took in $43 billion in card fees.

And my favorite…

  • The average graduate student has six credit cards and one in seven owes more than $15,000.

Woot! I currently have 3 credit cards and owe about 5,000. By the time I graduate, I should be debt free and even have my own investment portfolio.

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