finances

Luxist Reader's Financial Question Answered

Filed under: Services

We like to talk about spending money and enjoying the finer things in life but you can't do that if you don't manage your finances appropriately.

We first covered the ZYNC from American Express Quarterlife Project several weeks ago and as part of the giveaway asked for your financial questions. Financial expert and ZYNC Quarterlife Coach Christine Hassler picked one reader's question and answered it in video format.

The question chosen was posted in the comments by NYCReader:

"For someone in their 20's, are there certain life expenses (utilities, groceries, rent, etc.) that are better to pay on a credit card rather than with cash/check/debit card?"

Interested in the answer? Christine Hassler gives her two cents on the ZYNC Facebook page. Click here to see the video answer.

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Tags: american express, Christine Hassler, finances, financial advice, ZYNC, ZYNC Quarterlife

Number Of Millionaires Drops Sharply

by Deidre Woollard (RSS feed) —

Filed under: Wealth

That millionaire next door might not be a millionaire anymore. A recent report from the Boston Consulting Group shows that the number of millionaire households around the world fell from around 11 million in 2007 to 9 million last year, around 18 percent. In North America the number was even higher, a 22 percent drop. Global wealth overall has also declined dramatically.

The world's richest people are responsible for doing a greater share of the resource consuming and economy driving. While many say that the economy is beginning to recover there is the possibility that as 24/7 Wall Street put it, that we are looking at not just a jobless recovery but a "wealthless" one as well. While it can be hard to be sympathetic for the rich who are losing their ability to buy yachts or stay in five-star hotels, those indulgences are major economic drivers. The lack of disposable wealth also ends up affecting not just providers of luxury goods and services but also various philanthropic organizations.

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Tags: finances, millionaires, money, spending

Worth Magazine Cuts Staff As Financial Advertising Falls

by Deidre Woollard (RSS feed) —

Filed under: Wealth

Worth magazine, a magazine that focuses on issues of wealth management, investing, estate planning and "passion investments" like antiques and fine jewelry, is retooling its strategy. The parent company Sandow Media has cut its New York staff by 45 percent and plans to relaunch based out of Boca Raton, Florida. The company will also be producing six issues a year instead of 10. Reuters reports that the general manager of Worth magazine, Alison Parks, had told them in January that there were no plans for layoffs but clearly the ongoing attrition of the financial services sector called for a change in strategy.

Worth has an estimated total readership of 250,000. Worth's bread and butter is financial advertising which has declined with the stock market. Sandow Media also publishes New Beauty and the regional LUXE magazines. Those titles are said to be stronger than Worth which focuses primarily on the financial/investing sector.

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Tags: finances, investing, magazine, pulbishing, worth magazine, WorthMagazine