The Frugal Bridesmaid Handbook, in 4 Simple Steps
Jun27

The Frugal Bridesmaid Handbook, in 4 Simple Steps

When my best friend asked me to be her maid of honor, I was flattered and financially horrified. She lives in Texas, while I live in New York. The airfare and hotel would tip towards $500. Dollar signs flashed in front of my eyes as I calculated the cost of the bachelorette party, a bridal shower, gifts, the dress, accessories and bridesmaids kits. I started to have heart palpitations but pasted on a smile and sputtered out, “of course!” in a strangely high-pitched voice. As the maid of honor, I unearthed four tenets for being a successful yet frugal bridesmaid. Hyperbole aside, I felt honored she choose to have me stand up next to her on such a monumental day. However, I quickly became concerned with keeping the experience cost-effective, since I have three other weddings to attend this year — all of which require travel. Unlike the portrayals of brides in pop culture, my friend elected to be a fiscally responsible and incredibly conscientious about her relatively cash-poor, young bridesmaids. As the maid of honor, I unearthed four tenets for being a successful yet frugal bridesmaid. Important skills since the cost of being a bridesmaid (dress, shoes, accessories, travel, bridal shower, bachelorette parties and gifts) averaged $1,695 in 2011, according to Mint.com and Wedding Republic. 1. Set Budgets With the Other Bridesmaids Even if you had visions of Vegas dancing through your head, the other bridesmaids may not be able to afford your version of a bachelorette party. It’s important to […]

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Google I/O 2014 Preview: The Developer Conference Has A Design And Wearables Focus This Year
Jun25

Google I/O 2014 Preview: The Developer Conference Has A Design And Wearables Focus This Year

If you’re gearing up for Google’s big annual developer event this year, you might be wondering what the company will be doing with its full two-day event, which kicks off Wednesday. Google’s focus this year is expanding to include more information and value for the gamut of app and software makers. That means speaking not just to developers but also to designers and marketers. But for the average user, there’s still plenty to look for here in terms of news and excitement, too. Android Wear A key focus this year, according to people familiar with the matter, will be Android Wear.Google announced the project earlier this year, and released it to developers in beta form. It’s an extension of its mobile OS that is designed specifically for use on smartwatches and other wearable form factor devices, and we’ll almost certainly hear a lot more about it at I/O this year. Two manufacturers are set to debut the first shipping smartwatches running Android wear this year, including Motorola and LG. Both had promised a summer launch window for these devices, which are the Moto 360 and LG G Watch, and we’ve just entered into summer technically, so we’re almost guaranteed to hear more about these at I/O, if we don’t get a full-fledged launch of both. We’ll almost certainly get a good long look at Android Wear in a consumer-ready form, with more details and specifics on how it’ll work in terms of both basic built-in functionality and third-party support, and there will probably […]

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5 Actions Today For A Secure Retirement Tomorrow
Jun23

5 Actions Today For A Secure Retirement Tomorrow

Plan Now to be Ready for Longevity Longevity is a reality that we all must plan for. A 65-year-old man has a 50 percent chance of reaching age 87, a woman has a 50 percent chance to reach 90, and both are likely to live much longer if they are married.1 To accomplish the retirement you want—even one lasting 30 years or more—think in terms of creating multiple income streams. Start with the Picture and the Price Start by developing a practical budget based on a real-life vision of your retirement. Be specific about all the possibilities and costs—from places you’ll live and travel, to your hobbies or activities, to any support you may provide to family members. Your plan will provide the framework for different income streams to support both “must have” and “nice to have” items in your budget, as well as other retirement risks and expenses. Here’s how it works: 1. Use Guaranteed Income for Essential Expenses (Must Haves). Plan on one or more guaranteed income streams to cover non-negotiable living expenses—like housing, food, transportation, insurance, condo fees, health care costs and taxes—for as long as you live: Social Security: Maximize Social Security benefits based on your age, family situation and needs. There are ways to increase long-term income by delaying the start of Social Security payments, but a retiree with a young or disabled child may be better off taking benefits sooner. Annuities: An annuity can offer various options for lifetime income, whether it is taken immediately or deferred. Pensions: Incorporate […]

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Hotels With Few Amenities Lure Investors Seeking Higher Returns
Jun19

Hotels With Few Amenities Lure Investors Seeking Higher Returns

Hotels with the fewest amenities are proving among the most attractive to U.S. lodging investors as they search for higher returns. Blackstone Group LP (BX), the world’s largest alternative-asset firm, is close to an agreement to buy a group of select-service hotels from Clarion Partners LLC for about $800 million, adding to its already sizable portfolio of such properties, a person with knowledge of the deal said yesterday.NorthStar Realty Finance Corp. (NRF)said earlier this month that it bought 47 limited-service hotels for $933.9 million in a joint venture with Chatham Lodging Trust. Investors are drawn by the lower operating costs and higher returns at select-service hotels compared with more upscale properties. The segment — which lacks restaurants and have limited beverage and other service offerings — includes brands such as La Quinta, Super 8 and Days Inn. Purchasing such properties and boosting their profitability is often easier than acquiring and remaking higher-end hotels. “The returns are very attractive and the financing for these deals is much easier and cleaner to underwrite,” said Samantha Fisher, a Los Angeles-based senior vice president at investment-services firm Jones Lang LaSalle Hotels. “Limited service doesn’t have a big food and beverage component. These things can almost run themselves. Whoever is the buyer doesn’t have to put much into them to see returns quickly.” Last year’s $6.2 billion in select-service hotel deals was the highest total since before the last recession, according to Jones Lang LaSalle data. The sector accounted for 30 percent of all U.S. […]

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Educate Yourself on the Real Cost of Higher Education
Jun17

Educate Yourself on the Real Cost of Higher Education

For many young people, earning a college degree is the logical first step on the path to a successful career. But the enticing prospect of campus life can distract applicants from the burden of debt they are likely to be carrying come graduation day. “Students often aren’t fully prepared for the financial realities of college,” says Dean Florez, president and CEO of Michelson Twenty Million Minds, a foundation started by Dr. Gary Michelson and his wife Alya Michelson, committed to improving student opportunities and outcomes. “They sign off on loans that they don’t understand, and they aren’t really ready for the five or six-figure debt they might be facing.” Students deserve to be educated about debt before they make any commitments, he says. As college enrollment has increased, so has the size of the average college loan. Statistics from the Project on Student Debt show that between 2008 and 2012, debt at graduation rose on average 6 percent each year. In 2013, seven in every ten students graduated with debt, owing an average of $29,400 each. And the situation has only worsened this year. “Full-ride scholarships and other ways of attending college completely debt-free are hard to come by,” says Florez, noting that even the most intelligent and conscientious students often struggle to qualify. Competition is fierce, and students need to consider other methods of managing their budgets: “Partial scholarships, grants, living off campus, and paying down loan interest while attending school are good ways to graduate as close to debt-free as possible.” But even those tactics are often […]

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