by Jean Folger
Sunday, September 5, 2010

Carlos Slim Helu (Carlos Slim), a telecom tycoon and billionaire with well-known frugal tendencies, has a net worth of $60.6 billion, according to Forbes. Assuming no changes in his net worth, he could spend $1,150 a minute for the next 100 years before he ran out of money. To put this in perspective, he could spend in 13 minutes what a minimum-wage earner brings home after an entire year of the daily grind.

Granted, the world’s billionaires (all 1,011 of them) are in the debatably enviable position of having, quite literally, more money than they can possibly spend, yet some are still living well below their means, and save money in surprising places. Even non-billionaires (currently 6,864,605,142 of us) can partake in these seven spending tips from frugal billionaires:

[Click here to check savings products and rates in your area.]

1. Keep Your Home Simple
Billionaires can afford to live in the most exclusive mansions imaginable — and many do, including Bill Gates’ sprawling 66,000 square foot, $147.5 million dollar mansion in Medina, Wash. — yet frugal billionaires like Warren Buffett choose to keep it simple. Buffett still lives in the five-bedroom house in Omaha that he purchased in 1957 for $31,500. Likewise, Carlos Slim has lived in the same house for more than 40 years.

2. Use Self-Powered or Public Transportation
Thrifty billionaires including John Caudwell, David Cheriton and Chuck Feeney prefer to walk, bike or use public transportation when getting around town. Certainly these wealthy individuals could afford to take a helicopter to their lunch meetings, or ride in chauffeur-driven Bentleys, but they Read the full story

The chance of a national double-dip recession is hotly debated amid an increasing number of signs that the economic recovery is losing pace, but the risk is particularly troublesome on a local level.

A new report from Moody’s Economy.com singled out 22 cities that are at risk of slipping back into a recession in as early as three months. To come to this conclusion, the economists considered dwindling progress in employment, housing starts, home prices and industrial production. (See the map above for the full list.)

[See U.S. Cities With the Strongest Job Markets]

The at-risk cities are spread across the country, though more than half of the cities are in the South, and five are concentrated in the Midwest.

“With chances of a national double-dip recession now estimated at about one in four, several metro areas will probably experience their own downturns in the first half of 2011,” said economist Andrew Gledhill, author of the report.

Private sector hiring has been tapering off in recent months compared to the start of the year, triggering Moody’s to boost its forecast for a national double-dip from a 20% chance to 25% chance.

What’s a double dip? No one really knows.

In the 22 identified metro areas, Gledhill said private sector hiring is particularly sluggish, increasing the chances of a slowdown.

Without a substantial pick-up in hiring, Gledhill said the number of cities in danger of a double-dip recession could grow, possibly reaching the triple-digits.

“There was a time when all 384 metro areas were in a recession. We probably won’t get to that point again, but given the growing risk of another national recession, we’re on the lookout for more metro areas that will be weakening substantially on several levels over the next six months to a year,” Gledhill said.

He added that a handful of metro areas, particularly those that are industrial economies, are also suffering from a recent falloff in manufacturing.

start small, move up the ladder

This generation of kids wants everything yesterday. Nobody has patience anymore. It’s no longer just about instant gratification; it’s about instant gratification that someone else works for on your behalf. You can almost never amount to anything in life or appreciate what it is to be a somebody unless you start off as a nobody .

So what if you start at the bottom of the food chain? Seeing things from the ground floor up lets you see what it takes to distinguish yourself from the cafones around you. Don’t kid yourself into thinking you can be a success overnight (remember, it takes 10 years to be an overnight success).

Let me further illustrate this point by telling you about my nephew Vinnie. Vinnie is a fine boy but he has no understanding of the word “patience” or having a good work ethic. He tells me all the time: “Uncle, I want the big house with three garages (he actually says “tree garages,” but I digress), I want the Mercedes, I want the expensive wines…” That’s when I pull him by the ears and tell him: “Vinnie, outside of these trust-fund idiots, do you see who typically has these things, these fancy cars and large homes? It’s fat old f*cks, not young turks. What makes you so special that you can skip steps?” He doesn’t realize that there are ways to go from nobody to somebody and that it takes time.

The concept is easy, boys. All these guys with fancy things — guess what? It took them a while to get them. First they started with the small house that they paid off and turned into a down payment on a bigger house, which they paid off again to get the big house with the fancy marble walkway. Ever notice the gray hair and potbelly on guys with mansions or in exotic sports cars? Lesson here is, don’t expect at 29 what everyone before you got at 59. Capisce? Good. Now on to some practical advice.

There is never one single thing you do that can transform your importance instantly. Even if you are elected president, you get there by climbing the ropes, following the code and being different levels of a somebody first. Unlike in the movies, no kid is just going to get plucked from Brooklyn and win the presidential election because he promises voters he’s going to “keep it real.” So here are several pointers:

1- Get money

Buy your way into being important. The more money you have, the more people want to lick your arse and the more crap you get for free. Go figure. There is nothing like walking into a place and saying: “I need to spend a lot of money” to get you noticed. But this is fleeting importance, and having cash isn’t enough to make you a permanent somebody.

2- Have street cred

In my line of work, once you are made or even if you are associated with a Family, you are a somebody. Having a reputation on the street helps, how you go about it is a whole other article.

3- Make a big move

There is nothing like a big move to get you noticed. Whether it’s a big heist, a large merger or an important speech, you can climb up the significance ladder pretty quickly by doing something that will be archived in the history books (whether it’s the ones that get stored in a library or in the Feds’ private collection of mug shots).

4- Be an expert

Everyone always needs the opinion of other people. Even I can admit when derivative pricing models theory is above my head. I have to call a schmuck who can tell me what the hell that is. But when I call, I want to call the best because I know the best knows what he is doing and how he can help me before I even open my mouth. It’s not enough to be an authority on something — you have to be the authority to get recognized. So instead of being satisfied as a regular lawyer, accountant, computer geek, whatever, be the best in your field. Have some trait that is exclusive to you and don’t be a generic idiot like most people.

5- Take risks

This is hit and miss, but in life, certain risks pay off. There are too many examples of things you can do, so I’m not going to waste my time listing them, but just remember that very rarely do guys like Harry “The Boring Office Clerk” make it big.

6- Have a spiel

You want to get noticed? You want to stand out from the crowd? Have some unique “thing” people remember you by. It could be a unique look (none of that earring or dyed-hair crap, though), a unique way of talking, a smirk, a gesture, whatever. Have something that makes you different, an original spiel that’s your calling card. Like if you live in Texas, be a white guy with brown hair and you’ll stand out among the blond cowboys all around you. In Miami, be the only guy who wears black day and night and doesn’t know a word of Spanish. Throw in a British accent or something for good measure. The point is to be quirky, be eccentric, have a presence, but don’t look like a fool.

7- Have a lady with significance

It’s amazing what having the right woman on your arm can do for you. Have some cursing, low-rate hillbilly at your side who looks like she just stepped off a zombie movie set and you’ll get one kind of reaction. Have a classy, sophisticated, cultured woman whose self-confidence makes your own back straighten up (I bet you all just straightened your backs), and you will win by association. After all, the latter kind of lady is in high demand; if she is with you, then it means you got something, that others don’t.

8- Talk to people

Being connected doesn’t hurt. The more people you know, the more people you have conversations with, the more you can open doors for yourself or others. Don’t be a Rolodex whore who collects business cards like a bum collects tin cans, but be someone who talks to people with a hidden agenda and stays in touch. A rainmaker of sorts. Be the guy who gets things done. Be Joe, the guy who knows this guy or that guy. That sort of thing.

9- Have power

This is the most obvious way to become a somebody . But accumulating power isn’t straightforward. Having a position that inherently has power attached to it is the easiest way to go. Being the CEO of a company, a big-shot consultant, a mayor of a major town, a college dean, the boss of a Family, a bank manager, whatever, all of that helps. But you already have to be a somebody to get to those positions. So place yourself in positions where you can wield power and influence, and the rest will inevitably follow.

Sarina Amin is a professional resume writer that has worked in the management consulting industry for over 10 years. Sarina has had significant experience in recruiting, interviewing, and hiring candidates throughout her career, and utilizes this knowledge to help clients develop stronger, results-oriented resumes.  She takes a very personalized approach to each client to ensure their resume captures strengths and skills that are directly related to the jobs they are looking for, and she guarantees satisfaction with a money-back offer if the resume does not meet expectations.

What’s the first thing you would say to someone when they ask you to describe yourself as a resume writer?

Personal.  Inquisitive.  Creative.  Those are 3 traits that I believe are essential to being a great resume writer.  I take a very personalized approach to each client to really understand their skills and background. I ask detailed questions to draw out the “results” that need to be highlighted in the resume.  And I think about what’s missing (not just what’s already on the page) to find creative ways to link their skills and experiences to the jobs they are applying to.

How long have you been in the industry?

For 10 years now, I have been involved in Recruiting for all levels within an organization, so I am very familiar with what potential employers are looking for during the resume screening process.  In addition, I have been leveraging that knowledge as a professional resume writer for the past 5 years, and have written resumes for clients in a variety of industries and experience levels ranging from undergrads to CEOs.

What Inspires Your writing?

There are basic rules to resume writing that a lot of writers can learn and follow. But what sets certain writers / services apart is the realization that a strong resume can really change the job outlook and success rate for applicants. I am passionate about helping clients because I have seen first-hand the difference a great resume can make in helping someone Read the full story

We sat down with one of the hottest website developers in the US. There are so many blogs sites coming up that people use as their main professional website. Sometimes going the cheap way just doesn’t cut it. Check out what Tony Natsoulas had to say:

What makes a great website design?
Simple clear format with professional pictures.

How long have you been making websites?
Since 2000

What is the most common mistakes you see made by new artist sites?
Too much work and thinking they are going to be discovered Read the full story

Despite what all the advertisements say, there aren’t many ways for you to increase your credit score quickly and legitimately. Many of the advertised tactics revolve around disputing old, negative information in the hopes that the original creditor won’t respond and the mark will be removed. It’s an entirely legitimate technique but it’s a little dishonest. Some companies also advocate writing a letter to the original reporter of negative information and asking them to remove the mark for one reason or another. While less dishonest, it goes against the spirit of how the score was intended and while I have no problem with it, I think there are several honest moves you can make to give your score a boost without resorting to these tactics.control over is credit utilization. Credit utilization is simply a calculation of how much of your credit you are currently using. A simple total balance owed divided by total credit limit. So, you can either decrease the total balance owed or increase the total credit limit.

[Click here to check current credit card offers, including rates and terms.]

Request a Credit Line Increase

Credit card issuers like Citi and American Express give you the option to request a credit line increase through their online account managers. You have to do a little digging to find them but when you do, they represent the quickest way you can Read the full story

In the current economic environment, one impact of the credit crunch is that it’s getting harder than ever to obtain loans of all kinds, including student loans. Unfortunately, millions of Americans rely on loans to pay for a college education. That’s why roughly $730 billion in federal and private student loans are outstanding, and only 40 percent of it is currently being repaid, according to FinAid.org, which tracks student loans.

If you require loans to pay for your education – or your child’s – you need to arm yourself with information to be a smart borrower. Here are five facts you should know in order to do just that.

Fact #1: You can eliminate or reduce student loans by squeezing more free financial aid out of a school

Slash your need for student loans by getting your college to give you a better financial aid package – especially scholarships, grants or work-study awards. You may be able to do this if your family situation has changed substantially since you applied for aid (i.e. a divorce among the parents, a death of the family’s main breadwinner, serious illness, etc.).

At your request, a helpful financial aid counselor may also reconsider your initial financial aid award if you can demonstrate that the package offered is significantly less (at least $2,000 or so) than the cost of attending the school.
 

Fact #2: Student loan rates and terms are negotiable

Every July 1, Congress adjusts the interest rate caps charged on federal student loans. However, contrary to popular belief, Congress doesn’t “set” the rates for federal student loans. Instead, the feds impose a “maximum” interest rate that lenders can charge, then lenders set their own rates based on what the market will bear.

Therefore, if you’re willing to negotiate and ask for more favorable rates and loan terms, you can find many lenders that will agree to charge a lower rate than the federal maximum interest rate. Ask for lower interest rates based on:

a) Having payments automatically deducted from your checking/savings account.
b) Making a set number of ‘on time’ payments (24 to 48 months of on-time payments often qualifies you for a rate cut, and a few lenders will give you break even sooner).
c) Earning good grades or qualifying for any other incentive programs a lender offers.

Fact #3: If you must borrow, always seek federal loans first – not private loans

Federal student loans have better loan forgiveness, forbearance and deferment options than do private loans. They’re also much cheaper loans – and they’ll be even less costly in the near future. Right now, the federal cap on Stafford Loans, the most common type of federal student loan, is fixed at 6.8 percent for undergraduates. It’s 8.5 percent for PLUS Loans – loans awarded to graduate students or parents to pay for their kids’ education.

The good news is that any student taking out new, subsidized Stafford loans will have progressively lower interest rates now and in the future, thanks to the College Cost Reduction and Access Act of 2007. Subsidized loans are the ones where the government pays the interest on the loans while the student is in school.

For the 2010-11 school year, the interest rate on subsidized Stafford Loans gets cut to 4.5 percent. In 2011-2012, rates on subsidized federal loans drop again to just 3.4 percent. By comparison, private loans currently have variable interest rates and can average about 10 percent, depending on a student’s credit and whether or not he or she has a co-signer.

Fact #4: Your employer can help eliminate your student loans

A little-known way to get rid of college debt is to have your boss pay it off. Many employers will do so if you sign an employment incentive contract. This means that as a “bonus” or “perk” to you, your job pays your student loans. In turn, you agree to be a loyal employee and remain with the company for a given time period, say at least two to three years.

So the next time you’re up for a raise or performance appraisal, raise this subject with your boss. If you follow this advice, you may not have to pay your student loans at all – your employer will!

Fact #5: The federal government will pay up to $60,000 of your college debt

The government’s Federal Student Loan Repayment Program can be a huge windfall to anyone with federal student loans. Administered by the Office of Personnel Management, this program allows any federal agency that you work for to pay off up to $10,000 annually of your student loans, up to a maximum of $60,000.

What’s the catch? You simply have to agree to be employed by a federal government agency for a set period of time, usually at least one or two years.

For detailed advice about managing student loan debt, pick up a copy of my book ‘Zero Debt for College Grads: From Student Loans to Financial Freedom.’

Cavey Phone App Development has developed a system that allows you to take your marketing tools to the next level.

Because ‘mobile’ is a highly personal communication device, it is proven to be the most effective way to deliver on-the-go messages that need immediate attention. With an impressive 95% read rate, text messaging is far better than email, radio, TV or print. This is why the ability to send commercial text messages to people’s cell phones is essential to EVERY business.

The next evolution in marketing is to use the ‘mobile’ media as a Customer Relations Tool, that is effective in directly reaching customers anytime and anywhere to deliver just-in-time marketing messages like no other Read the full story

Dr. Phil just dropped $30 million dollars on a pad in Beverly Hills, California that looks just like the Alamo.

Dr. Phil and his wife Robin’s new 15,000 square foot home sits on nearly 3 acres, features a formal dining room, a huge entryway, a library/media room and a “great room” that combines the kitchen with the family/living room. The home, described as a “romantic European villa,” also comes with 5 bedrooms, 9 full bathrooms, 2 half-baths and a second-floor master suite with a private sitting room and balcony.

In addition, the villa includes a great view of the city, a detached guest house, a flat lawn, a swimming pool and an illuminated tennis court. There’s also a giant fountain parked out front that sits at the edge of a long gated driveway.

Check out a few photos of Dr. Phil’s new digs below… Read the full story

10 Ways To Think Like A CEO
By Michael Bucci Success

ABC’s of a good CEO If you aspire to achieve success in your career, then check out many of the qualities you will need to acquire in order to make it to the top.

10. Confidence You have to be secure in your abilities and confident that you can carry out the task. Never let anyone make you feel inferior; they can only do so if you give them “permission” to.

9. Persistence As former US President Calvin Coolidge once said: “Nothing can take the place of persistence.” Not talent, not genius and not education. “Persistence and determination alone are omnipotent.” So don’t quit easily.

8. Think (Bigger)The higher you move up the ladder, the more complex the decisions. Thus, it only follows that you will have to Read the full story