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Does Money Make Miley Cyrus Act Crazy?
If you’re like millions of people who saw Miley Cyrus’s performance at the MTV Video Music Awards recently, you’ve probably wondered what the effect of massive success on the music and acting star. Cyrus seems to be
doing everything possible to remake her image in the exact opposite of her squeaky clean mold that Disney and other companies have created for her over the last several years. (A rumor has it that Disney even created a contractual obligation for Cyrus to maintain a certain haircut during her “Hannah Montana” television show.) There’s a sense of someone taking on their first sense of independence, and running with it — the star seemed to be sending the message to the audience that she was not going to live according to the expectations of others anymore, and from the look of it, they got that message loud and clear.
The horrified looks of Rihanna, Drake, and Will Smith aside, the real question people had is whether the massive financial rewards of Cyrus’ singing career can explain her crazy behavior. Cyrus is said to be worth about $100,000,000 — certainly a fortune by any standards. And since she is still struggling with the problems of young adulthood — forming an identity, understanding her values and taking a place in society, it’s very likely that her finances contribute to at least some of her behavior.This effect of money can come from many different areas of life. For one, many people who become wealthy at a young age are suddenly struck with the fact that they have no need to work, but who often want to develop a career and contribute to society. Take Steve Jobs for example, who at 31 years old was fired from Apple Inc. by the company’s board of directors. Jobs had in fact started the company himself, and was worth well over a hundred million dollars by that time. And yet, feeling like contributing to society was more important to his life than resting on his laurels, Jobs started a new company, NeXT, where he hoped to contribute inexpensive computers to universities.
The fact that Cyrus is barely into her 20s should tell you something about how much time she has to develop her career. She has enough to retire at an age when most people are just starting their first real job. And that is a tough position to be in. If she is hoping to push her singing and acting career well into adulthood — as most artists would like to — it may be that she is trying to make her mark now. Think of it a bit like Bob Dylan in 1964, releasing electric music for the first time, when before that point he was primarily known as a folk singer making gentle acoustic music.
Dylan’s idea may have been a bit like what Cyrus’ is. That is to say, maybe Miley Cyrus is trying to avoid becoming a has-been, a relic of the 2000’s who burned out playing inoffensive pop music. If this is the case, Cyrus may be able to shift her career into a different mode by showing herself to be an uncompromising artist. Remember that even the greats of the past — Frank Sinatra for example — were once viewed as essentially music for teenagers, and not serious artists. Sinatra even suffered career failure in his 20’s when his audience grew up and moved on to other things. But he came back to record success when he began allowing his music to mature and his ideas to gain focus. If Cyrus can pull such a move, she may not be remembered as a teeny-bopper, but as a serious artist.
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5 Ds of Identity Theft
Identity theft is, at its most basic level, the act of using someone else’s identity or credit without permission. From a stolen credit card to a forged phone bill in Moscow, it all involves your good money paying for the bad habits of another. Thankfully, there are ways to reduce the odds of having your identity stolen. LTC David Grossman reviews the “5 Ds of Survival” in his seminars and books. Today, I bring you the 5 Ds of Identity Theft.
In the words of the master, “Denial has no survival value.” Denying the possibility of identity theft will not keep it from happening. You have to take steps to keep yourself safe. “It could never happen to me” is not a valid defense mechanism in any situation, financial or otherwise.
Deterrence means keeping the information away from identity thieves. The harder it is for the criminals to get your information, the more likely it is that they will move on to an easier target. And yes, a kid stealing Grandma’s credit card is a criminal and needs to be treated as such.
- Some people use a shredder, but not me. I have a fire pit that catches all of my personal documents. I’d like to see an thief get my social security number from the ashes in the bottom of the pit.
- Don’t carry your social security card. If you lose your wallet, your driver’s license and social security card contain all of the information needed to steal your identity. Keep it locked up at home and don’t give the number out unless absolutely necessary.
- Don’t use stupid passwords. Anything listed on yourFacebook profile or otherwise available on Google in association with your name is a stupid password. Don’t make life easy for the people looking to screw you. Your birthdate, maiden name, and “password” all qualify as stupid passwords. Use KeePass to securely generate and store your passwords.
- Lock up your personal information. I throw two large parties every year. Purses and wallets get stored in a locked bedroom, so nobody can grab them. That was a lesson learned the hard way. If there’s someone in your home you don’t trust absolutely, lock up anything that can be used against you.
- Don’t release personal information to anyone, for any reason, unless you have initiated the contact. Don’t give a credit card number to a telemarketer. Don’t give a spammer your personal information. It’s your privacy, use it.
- Don’t click anything in an email. If it’s a company you have a relationship with, type the address in your browser by hand.
Detection is up to you. Some credit card companies will alert you to suspicious purchases, but you can’t rely on it. I was once called because I went to the gas station and Best Buy, which is apparently a common pattern for a stolen credit card.
- Examine your credit card statements. If there’s a purchase you don’t recognize, find out what it is.
- Watch for bills to arrive as expected. You do know when you pay the gas bill every month, right?
- Watch for unexpected bills to arrive. If you get a statement for a credit card you don’t have, it’s a problem.
- Check your credit report three times per year. AnnualCreditReport.com will let you see each of the three major credit reports each year. Space them out so you see your report every 4 months.
Defending your identity happens after you’ve detected a theft. This involves getting your credit and sometimes, your money, back.
- File a fraud report with the credit bureaus. This will force potential creditor to follow certain procedures before opening new credit accounts for your identity, including calling your cell phone, if you choose. Stop the identity theft in its tracks.
- Close the fraudulent accounts. Don’t leave them open for abuse.
- File a police report and report the fraud to the FTC at ftc.gov/idtheft . This may or may not help catch the criminal, but without it, there will never be a punishment. Make stealing your identity an expensive proposition. Hopefully, 1o years of his life will be wasted in jail in return for the theft.
Destroy. Unfortunately, fraud and identity theft are not yet capital crimes. Maybe someday.
Deter, detect, defend. These are the secrets to avoiding, and recovering from, identity theft.
Hayden Panettiere Gets Engaged – Crazy Wedding or Not?
Hayden Panettiere has formally announced her engagement! The starlet will be marrying Vladimir Klitschko, who is a world renowned boxer that has won an Olympic gold medal. The unexpected public revelation has sparked rumor trails regarding glitzy wedding plans. While no date has been set, and nothing has been confirmed, there is widespread speculation that the event is going to be glamorously over-the-top.
A decadent gala may very well be in the planning stages. The “Nashville” actress, age 24, is one of America’s most idolized entertainers. She appeared on “Live with Kelly & Michael” to declare her commitment. During the show, she flaunted an extravagantly oversized engagement ring. This fancy display could be the precursor to an expensively ostentatious wedding.
Although Panettiere’s fiance is 13 years older than her, it is the first marriage for both partners. This may instill extra incentive for the couple to make their officiation an extremely flashy occasion. Because Klitschko is a famous Ukrainian athlete, he will also be anticipating a magnificently choreographed wedding. Both individuals could invest fortunes in perfecting their walk down the aisle together.
Of course, one of the biggest decisions that Panettiere faces is the selection of her gown. All eyes will be on the fabric that she chooses for this special day. If they go through with a public wedding, the dress will be permanently immortalized in global media. She is going to want to show off flawless class, glimmering austerity and sizzling sultriness. Fashion critics are eagerly anticipating her selection. The high-end designer that she picks will receive a tremendous boost in popularity, especially if she pulls off a beautiful presentation.
A crazy wedding would be completely in character for the young television star. Her most known role was a bubbly cheerleader on the long-running series, “Heroes.” With vivacious charm, she became a sex symbol across the country. Explosiveness is simply a part of her personality, so a bombastic celebration is to be expected. Furthermore, Ukrainian wedding parties have a tendency to be more raucous than American traditions. If they follow any of the groom’s cultural practices, the event could become out of control.
The massive ring on Panettiere’s finger indicates no desire for privacy regarding this affair. In fact, it was an invitation for the mainstream media to cover the entire ordeal. This hints that the couple might be planning a gigantic wedding event. They can easily afford it, and the public celebrations will rapidly enhance the star’s critical acclaim.
In contrast, a private exchange of vows would disappoint her legions of fans. Furthermore, paparazzi could still infiltrate the wedding to snap pictures. To avoid any uninvited intrusions, the couple should be open to media coverage during their nupital arrangements. This will let them control the event, and allow them to recoup some of the expenses through lucrative network contracts. Regardless of how they conduct the wedding, it is certain that the whole world will be diligently watching with admiration, and perhaps a slight tinge of jealousy.
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Budget Lesson, Part 7
It’s been a month(again!) since I’ve written a post for the budget series, so I’ll be continuing that today. See these posts for the history of this series.
This time, I’m looking at how to reduce my “set aside” funds. These are the categories that don’t have specific payout amounts and happen at irregular intervals. One of the convenient features of our set-aside funds–also a feature of our non-monthly bills–is that the money sits in our checking account, providing a buffer against overdrafts. The buffer is big enough that I can withdraw our entire month’s discretionary budget on the first of the month.
- Parties – Twice a year, we have large parties. We have a barbecue(not necessarily low and slow, I’m in the midwest) and a Halloween party. We also have three kids with birthdays. Each year, we try to do something exotic at the barbecue. One year, it was a turducken. This year, we’ll be skipping the show-off portion of the show. The Halloween party is never expensive. I don’t drink much, so the bar stays well-stocked without frequent expensive shopping trips. We throw two large parties for less than $300 combined, and our guests start RSVPing a year in advance. We’re fun. The kids are getting gypped this year. I am over my addiction to expensive birthday parties for my kids. There will be a small party for one, a sleepover for another, and a party combined with some cousins’ birthday parties for the third. It sound horrible but all of them will have fun.
- Gifts – We set aside money for presents, but we don’t feel we need to spend all of the money we have set aside. Anything left over stays here. Eventually, it will be something nice for all of us.
- Pet Care – We have 4 cats and a dog. Cat litter and food are expenses that we can’t make disappear. We don’t buy the fancy food, but we also don’t buy the stuff that uses cardboard as filler. We have set a new limit at 3 pets, but that limit will only be reached through attrition. There’s nothing to cut here for a few years.
- Car Repair – This is another category with nothing to cut. If we don’t spend it, and something catastrophic happens to a car, we’ll be covered. If it doesn’t, we’ll have a bit more cushion in our checking account.
- Furnace Warranty – When we bought a new furnace and air conditioner, we got the extended warranty. This is an unlimited renewal warranty, so, in 5 years, we’ll have to buy it again to keep it. If we keep it forever, they will eventually replace our furnace when it dies.
- Medicine/Medical – It’s a sad fact that people get sick. We set aside a small amount to cover our costs. The costs rise and fall, but over any given quarter, I don’t think I’ve been off by more than $5.
I’ve taken a hard look at most of the bills over time, so there isn’t always a lot to cut. Next time, I’ll be addressing our discretionary spending.
Budgeting tips – sticking to your budget
If you are looking to get out of debt, or you are currently debt-free and want to stay that way, then it is important that you get a grip of your financial situation and live within your means.
A good way to do this is to create a budget as this gives you a clear indication of how much money is coming in, how much is going out and also highlights any areas where you may need to make cut backs should you be falling short each month.
Once you have sorted out the figures and made necessary amendments, for example paying bills by direct debit in order to make savings or cutting existing debts by carrying out a balance transfer to a lower rate credit card, it is time to start focussing on the lifestyle changes.
As you will find, it is one thing to create a budget and quite another to stick to it, but by adhering to the following steps and exercising a certain amount of will power, you should be able to ensure that you live within your means and resist the urge to reach for that credit card.
Keep focussed
Before you start to look at how you can stick to your budget you need to clarify why you need to stick to your budget!
A budget can initially seem like something that has been devised with the sole intention of stopping you having fun and buying or doing the things that you want. So it is important to remember that, though some cutbacks may be necessary in the short term, a budget is a long-term strategy that will allow you to take control of your finances and, all being well, live a happy life that is free from the worry of excessive debt.
Change your habits
Unfortunately, a successful budget can require a change in lifestyle and this can be one of the most difficult things to adhere to.
For example, if you have previously enjoyed eating out regularly then you may have to make cut backs in this area to ensure that you are living within your means. But, instead of seeing this as a negative, try to focus on the positives and remember the reasons why you are budgeting.
And a change in habits doesn’t necessarily mean that you have to cut back on your enjoyment of life and it may actually open your eyes to other pursuits you may not have previously considered.
For example, instead of eating out try preparing a meal at home and turn your dining room into a restaurant. This means that you can still have the fine dining experience but at a fraction of the price and without the worry of making a reservation!
Shop smarter
Lists figure heavily when creating a personal budget and list-making is a habit that you should get used to when trying to stick to your budget.
When budgeting it is vitally important to avoid impulse buying and a great way to do this is to always make a list of things you need before you go shopping.
This means that you will have a clear idea of what you need and you will be less inclined to make random purchases that may just turn out to be an unnecessary drain on your finances. It’s also worth mentioning at this point that you should always differentiate and prioritise the things you need over the things you simply want.
If you are unsure how to make the distinction then put off making the purchase for a couple of days and then reconsider if you actually need it. This cooling off period will often convince you that you can do without it and save you money.
In addition, savings can be made on your shopping by simply swapping big name brands for supermarket own varieties, using discount coupons and looking for any special offers.
Overall, it is important to be fully focussed and committed to your budget plan and to be aware that a change in finances may require a change in lifestyle. But a few short term changes may well add up to better finances in the long term.
Article written by Les Roberts, budget reporter at Moneysupermarket.com.
