By Caroline Bennett
Salacious shopping sprees, supersized bar tabs and parties that run well into seven-figure territory dominate the celeb gossip headlines. But not all of Hollywood's elite burn through money like it's going out of style.
There are some stars who have excellent financial track records, and you don't have to have a celebrity-sized paycheck to follow their lead. From saving money to making smart investments, these actresses are great role models for financial advice that anyone can use. Here's how they do it.
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It's confusing, with people inevitably hemming and hawing over how much to tip and how much is fair, it's awkward, as it's not like you have to, and it's extremely random. How much is enough? How much is too much? Why do some service industries expect to be tipped in some areas, while it's perfectly acceptable not to even think of tipping others in different parts of the same industry?
After all, we're expected to tip the baggage handler at a hotel, but not the person at the front desk. Plus, some people believe that tipping is downright discriminatory, since data shows that blondes are tipped more than brunettes and black customers actually do tip less than white customers, which has caused discriminatory blowback for black customers by the restaurant industry.
Stephen Dubner and Steve Levitt, of Freakonomics fame, recently tackled this issue in their newest podcast.
By Michele Lerner
Did your new high school graduate just rake in a few hundred dollars from congratulatory friends and family? Birthdays, bar and bat mitzvahs, and confirmations can also be quite lucrative for kids.
Money gifts can be both a blessing and a curse depending on the age of the recipient and the money personalities of the parents and their offspring. While clearly an infant has no say in what happens to funds given in honor of her birth, older children may balk at having their gift cash controlled by their parents.
On Wednesday afternoon, the winner of the largest sole jackpot in U.S. lottery history stepped forward to claim her winnings. Gloria C. Mackenzie, 84, bought the winning $590.5 million ticket at a Publix supermarket in Zephyrhills, Florida.
Mackenzie will take a lump-sum pretax payout of $370 million. And while the odds of winning that much money are steep -- 1 in 172.5 million in this case, according to one estimate -- it's not uncommon for people to come into a sudden windfall, such as an inheritance.
By Chuck Saletta
The Motley Fool
This is not an article on how to invest $25 a week and turn it into a million-dollar gold mine. It's not even an article about how to turn it into half a million dollars, unless you have 40 years to wait and incredible investment returns.
This is a piece about figuring out a way to add just a little bit more to your savings plan -- say, $5 a workday, $25 a week, $100 a month -- to give your retirement years a nice little boost.
We're talking about the kind of money that'll afford you a couple of extra vacations, or a new car, or the ability to spoil the grandkids every now and then. You know, the little things that turn life from mere existence into a pleasurable journey.
In Toronto for example, a typical water bill for a single family home runs about 600 dollars. The city has had a long-term plan to increase water rates by 9 per cent each year, so home owners are looking for savings anywhere they can find them. So heed our advice, and start saving with these easy-to-implement fixes.
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But, if you ask popular inspirational speaker and former think tank executive and business strategist Danielle LaPorte, too often we go after the goal only to discover we didn't really want that particular thing in the first place. In actual fact, we're not chasing a particular goal, we're chasing a particular feeling and she encourages all of us to get clear on how we actually want to feel in our lives, before we lay out our intentions.
She asks: "What if your most desired feelings, consciously informed how you planned your day, your year, your career, your holidays -- your life?"
Yes, Danielle LaPorte contends that we all have the procedures of achievement flipped upside down and righting them, she says, is only one way you can up your game when it comes to making money.
By Dan Caplinger
The Motley Fool
Retirement savings took a huge hit during the financial crisis and market meltdown five years ago, with savers of all ages feeling the brunt of plunging markets. But members of Generation X -- those born between 1966 and 1975 -- suffered the worst declines in their net worth from the crisis and saw the least recovery in the years that followed.
As a result, Gen-Xers are in bad shape when it comes to retirement readiness, as a recent study from the Pew Charitable Trusts concluded. With only enough financial resources to replace half of their pre-retirement income, the key question for Gen-Xers on the whole isn't how financially secure their retirement will be, but rather whether they'll be able to retire at all.