Live Real, Now

The no-pants guide to spending, saving, and thriving in the real world.

Search Results for: three-alternatives-to-a-budget/budget-lesson-part-5/debt-burnout/subscribe-by-email/budget-lesson-part-1/brown-bagging-your-way-to-savings/INGDirect/living-the-xbox-life-on-an-atari-income/first-3-things-to-do-in-the-new-year/4-ways-we-keep-wasting-money/financial-pet-peeve-fees-to-receive-paper-bank-statements

Nigella Lawson and the High Cost of divorce

Celebrities

Nigella Lawson Eats A Banana
Nigella Lawson Eats A Banana (Photo credit: Kaptain Kobold)

Heartache and heartbreak are hard enough to endure but imagine having to go through the loss of a relationship while the world looks on. Such is the high price of celebrity divorce and the latest victim is the beautiful and talented television chef, Nigella Lawson. Shocking photos of Nigella apparently being choked by her husband, Charles Saatchi, surfaced in the media following the June 9th dinner at Scott’s restaurant in Mayfair, London, where the incident occurred. Saatchi’s advisors urged him to humble himself and admit a public apology for the assault. Saatchi denied any wrongdoing, saying he never assaulted her and in fact, was actually removing mucous from his wife’s nose. Nigella was stunned by the admonition of “nose-picking” and his refusal to apologize. She left Saatchi and their family home in Chelsea.

The two sides continued to disagree about the pictures; Saatchi claiming it was just a “playful tiff” and Lawson hurt and humiliated by the public’s assumption of her as victim of domestic violence and her husband as her tormentor. Insult was added to injury on July 7th, when Saatchi announced his intent to divorce his wife in the media instead of directly to her. Lawson, who had been waiting for a public apology, was blind-sided by his cruel divorce announcement. Lawson and Saatchi have been married for 10 years; Saatchi has claimed that the couple had become “estranged” the last few years. Saatchi claims that he had no choice but to act publicly since his wife “failed to defend” him with a statement to the media. In fact, Lawson has remained silent at the advice of her publicist so as not to further affect their children. Lawson (53) and Saatchi (70) have three teenage children from previous marriages that they were raising together.In addition to the “he said, she said” controversy, Lawson and Saatchi will have to fight over $150 million in shared assets, including their $12 million Chelsea, West London home. Both brought substantial assets into the marriage. Charles Saatchi is worth $100 million from the high-profile, highly-successful New York advertising firm, Saatchi and Saatchi. Nigella Lawson is a celebrity chef, bestselling author and television star with a net worth of $15 million. By the time lawyers for both sides duke it out in court and attempt to untangle the shared assets, those net worths will be considerably less.But it’s not just a monetary cost to this celebrity divorce. Saatchi had grown increasingly resentful of his wife’s high-profile career that he helped established. It’s a common theme in celebrity couples; one partner becomes the higher earner or the more recognized celebrity and the other gets bit by that green-eyed monster, jealousy. In Nigella’s case, there is the public humiliation at the hands of someone she loves to endure. It seems that Saatchi is determined to do whatever he can to make her suffer in the media. And then there are the children; children always suffer in a divorce. It can be lessened when parents work together to keep it private and amicable. But it’s incredibly painful to have your lives dragged through the media. In this case, it is Nigella and Saatchi’s children that are paying the ultimate price.

Related articles
Enhanced by Zemanta

Link Roundup

Misc

Wrestling season is finally over.    Q1 is always such a busy time in my house.   Now, spring has sprung and it’s time to start enjoying the weather.

On to the links.

Finance:

Here’s an intro guide to settling IRS debts.

Only someone who’s never had to deal with the full default process could think this was a good idea.  The Department of Education outsources its collections for a reason.  Eliminating private lenders will raise the students’ costs and eliminate options for troubled debtors.  Yes, I worked in the industry for several years.

The Guide to Buying Glasses Online.   I currently have 6 pairs of glasses that cost me  a grand total of $150, with no loss in quality.

PenFed:  Credit cards done right.

Not finance:

This is the coolest picture I’ve seen this year.  Space pics for under $1000.  NASA could take lessons, I think.

I miss the days when napping was possible.

38 Random Acts of Robyn. I’m thinking about incorporating this as a 30 day project.

Lawdog has a great idea to fix the problems with our legislature.  It’s a beautiful Constitutional Amendment.  If they have to play by the rules they set, the might start setting better rules.

“Only excepting such limited protection as offered by Article One, Section Six, Congress is hereby prohibited from exempting its Members from each, any, and all effects, duties or obligations rendered upon any citizen, or citizens, by any Law, Tax, or other action passed by Congress.”

Dolly Parton’s Car Crash and the Importance of Insurance

Celebrities

Better Get to Livin'
Better Get to Livin’ (Photo credit: Wikipedia)

America’s country sweetheart, Dolly Parton, was in a car accident recently. Although she was only a passenger in this minor fender-bender, she still suffered some injuries requiring a quick hospital visit and rest. The offending driver did not stop as he was supposed to and struck Parton’s vehicle. Parton surely has auto insurance, and hopefully the offending driver has coverage as well.

Auto Insurance 101

Every month, you pay a premium toward your coverage balance. Coverage varies by state, from hospital bills to repairing damaged street items, like guard rails. People with expensive cars pay higher premiums while inexpensive cars have lower amounts. Some buyers only purchase the bare minimum of coverage, called comprehensive. This coverage does not help in the Parton crash because it typically covers vehicle damage from objects, like flying rocks, rather than a collision situation.

How Much Does That Part Cost?

Repairing a vehicle after a car crash can lead to astronomical figures. A simple dent in the bumper may warrant an entire part replacement costing thousands of dollars. The offending driver in Parton’s accident is at fault. His insurance should cover Parton’s insurance deductible and any other expenses that arise. If he is not covered, she could technically sue him for damages, although there may not be many funds to pay out.

Those Medical Bills

Coupled with a car repair, Parton and her driver also went to the hospital. The offending driver uses his auto insurance to cover their medical bills. Any bills generated from the driver or passenger’s injuries goes directly to the offending driver’s insurance. If he is not properly covered with this policy feature, he must pay for the bills out-of-pocket. With medical bills costing thousand of dollars, he probably called his insurance agent right away to see if his policy has that coverage.

Luckily, Parton’s accident was not severe, but ongoing injuries can slowly siphon funds out of the offending driver’s account. If Parton has whiplash, for example, she may need multiple visits to a chiropractor or other specialty doctor. Each visit should be covered by the offending driver’s insurance. Because she has good insurance coverage does not mean that her policy should pay out. The party at-fault always pays for both car repairs and medical bills. With treatment that takes several weeks to a few months, the offending driver’s insurance rates will typically jump next policy year.

Someone Has To Pay For It

Depending on the insurance company, an accident on your record causes your premiums to rise. You are now considered a risk to the company. It is possible that you will cause another accident incurring more cost. Insurance companies must weigh their risky customers with their good drivers. Hopefully Parton recuperates quickly so the offending driver’s rates do not remain high for several years.

You may not think of auto insurance as a top priority, but the reality of Parton’s fender-bender shows everyone that accidents happen at any time. Even celebrities must cover their vehicles with good insurance to protect their assets.

Enhanced by Zemanta

Twitter Weekly Updates for 2010-04-24

Misc

  • Watching Gamers:Dorkness Rising #
  • Charisma? Weee! #
  • Tweeting a dork movie? I'm a bit of a geek. #
  • We just met and the first thing you do, after boinking a stranger in the presence of the king, is to murder a peasant? #
  • Every movie needs a PvN interlude. #
  • Everything's better with pirates. #
  • Waffles? Recognize. #
  • The Spatula of Purity shall scramble the eggs of your malfeasance. #
  • Checkout clerks licking their fingers to separate bags or count change is gross. #
  • Watching Sparkles the Vampire, Part 2: Bella's Moodswing. #twilight #
  • @penfed was a waste of money. $20 down the drain to join, wouldn't give a worthwhile limit, so I can't transfer a balance. #
  • @JAlanGrey It's pretty lame. The first one was ok. This one didn't improve on the original. in reply to JAlanGrey #
  • RT @tferriss: Are you taking snake oil? Beautiful data visualization of scientific evidence for popular supplements: http://ping.fm/pqaDi #
  • Don't need more shelves, more storage, more organization. Just need less stuff. #
  • @BeatingBroke is hosting the Festival of Frugality #226 http://su.pr/80Osvn #
  • RT @tferriss: Cool. RT @cjbruce link directly to a time in a YouTube video by adding #t 2m50s to end of the URL (change the time). #
  • RT @tferriss: From learning shorthand to fast mental math – The Mentat Wiki: http://ping.fm/fFbhJ #
  • RT @wisebread: How rich are you? Check out this list (It may shock you!!!) http://www.globalrichlist.com/ #
  • RT @tferriss: RT @aysegul_c free alternative to RosettS: livemocha.com for classes, forvo.com for pronunc., lang8.com for writing correction #
  • Childish isn't an insult. http://su.pr/ABUziY #
  • Canceled the Dish tonight. #

Anchor Price Your Salary

Finance

Image by Dalboz17 via Flickr

Conventional wisdom says that, when negotiating your salary or a raise, you should make whatever crazy ninja maneuvers it takes to get the other person to name a number first.

Horse pellets.

Have you ever watched an infomercial?  Those masters of of impulse marketing geared towards insomniacs, invalids, and inebriates?

“How much would you pay for this fabulous meat tenderizer/eyelash waxer?  $399?  $299?  No!  If you call within the next 73 seconds, we will let you take this home for the low, low price of just $99.99!”

That’s the magic of anchor pricing.

The first number you hear is the number you will base all further numbers on.  If you hear a high number, other lower numbers will feel much lower by comparison.   The number doesn’t even have to be about money.

There was a study done that had the subjects compare a price to the last two digits of their social security numbers.   Those with higher digits found higher prices to be acceptable, while those with lower prices only accepted cheaper prices.

What does an infomercial marketing ploy have to do with your salary?

If you are negotiating your salary and your potential employer gives a lowball offer, every higher counteroffer after that will much, much higher than than it would otherwise.   On the other hand, if you start with your “perfect” salary, they amount you will be happy to settle for won’t seem to be nearly as high to the employer.   At the same time, you will be less likely to accept a lowball offer if you set your anchor price high.

For example, if you are looking to make $50,000:

The employer offers you $40,000.   $60,000 seems too high by comparison, so you counter with $50,000, then compromise and settler for $45,000.     Or, you could start at $60,000, making the employer feel that $40,000 is too low, so he counters with $45,000, leaving a compromise at $52,000.   That’s a hypothetical $7,000 boost, just for bucking conventional wisdom and taking a cue from the marketing industry.

How have you negotiated your salary?