With US consumer debt surpassing a staggering $1.7 trillion, America is gearing up for another expensive Valentine's Day, according to financial author and former Price Waterhouse CPA, Jim Trippon. Trippon, who runs a boutique wealth management firm in Houston, TX, is considered one of America's foremost authorities on the financial habits of American self-made millionaires. "Well intentioned gifts on Valentine's Day often produce money arguments the rest of the year," says Trippon, who gives tips on how to avoid overspending tis Valentine's Day.
Houston, TX (PRWEB) February 5, 2005 -- Valentines Day is just around the corner and men across the country are worried about what they will give their significant other to celebrate their love. All too often, they shop at the last minute and spend more than their budget allows.
The National Retail Federation estimated Americans aged 18 to 24 spent $154 on average for Valentines Day in 2004. According to Jim Trippon CPA, the national average credit card rate of 18.9%, assuming minimum payments, means this years day of love will really cost the average young American Cupid closer to $700.00 when interest and finance charges are included.
Jim Trippon, CPA, knows how to shop smart to avoid overspending on Valentines. I really think less is more," Trippon says, Its not necessary to spend loads of money to show someone you love them. If you shop wisely, you can give your loved one a great gift for ten bucks." Trippon has also released this year's top ten list of the "most outrageously expensive" Valentine's Gifts on his website www.stayrichforever.com.
Trippon suggests shopping at your local dollar store. These places carry a variety of things, from candy and candles to balloons and cards. Trippon challenged himself to get a complete array of gifts all for a total budget of $10. Here is what he was able to buy:
•Scented candle
•Heart-shaped box of chocolates
•I Love You" foil helium balloon
•Valentines mug with candy inside
•A card
•A glass vase
•One long-stemmed rose (from your local grocery store)
These items comprise a great list of things you can give as a gift on this holiday, all for ten dollars or less. Shopping on a budget isnt hard, if you do it sensibly.
Ive been a financial planner for millionaires across the country for nearly 20 years," Trippon says, These people didnt become filthy rich by buying extravagant gifts on made up holidays. They are smart and spend their money intelligently."
Trippon conducted a study of 537 American millionaires and their spending habits. He shares their secrets to wealth in his book How Millionaires Stay Rich Forever: Retirement Planning Secrets of Millionaires and How They Can Work For You."
Jim Trippon is available for interviews and broadcast appearances. For further information or to schedule an interview with Jim Trippon, contact Amal Zaid at 713-661-3806 or reach Jim Trippon directly 24/7 at 713-498-8849.
# # #
Publication Data: How Millionaires Stay Rich Forever: Retirement Planning Secrets of Millionaires and How They Can Work For You – by Jim Trippon, CPA; Published by Bretton Woods Press LLC and distributed by Midpoint Trade Books; February 2004; 254 pages; 21.95; 6x9 Hard Cover; ISBN: 0-9723389-1-8
|
