MarketWatch today reported on the burning news revealing how the rich are a different breed of shopper than you and I. And as their headline noted, you might not really want to hear this. However, as your shopping girl, I thought it could be useful info should you ever come into a little gravy yourself. You don’t want to be nouveau gauche, do you?


The jet set unmasked
How do the very wealthy spend their money? You may not want to know

By Thomas Kostigen, MarketWatch
SANTA MONICA, Calif. (MarketWatch) -- Private jet owners have an average annual income of $9.2 million and a net worth of $89.3 million. They are 57 years old. And 70% of them are men.Hannah Shaw Grove and Russ Alan Prince, two researchers, surveyed the group to find out who they are, what makes them tick, and perhaps most interestingly, what they spend their money on. The average jet setter spends nearly $30,000 per year on alcohol (wines & spirits). Grove and Prince note that this amount is about two-thirds of the median household income in the U.S. And that's the smallest category of spending they surveyed. The next smallest was "experiential travel," which includes guided tours, such as photographic safaris, or hikes to Machu Picchu, or eco-tours to the Brazilian rainforest, or kayaking in Baja California during the gray whale migration. For these experiences, jet setters spend an average of $98,000 per year. But these journeys are small potatoes when compared to how much these wealthy individuals spend on hotels and resorts ($157,000 a year), or events at hotels and resorts ($224,000 a year). Spa treatments even fetch more jet-set dollars than wilderness tours. The average jet setter spends $107,000 a year at spas around the world. Not that many of these "global citizens," as they like to be called, would know: Just 34% of jet owners open their own mail and only 19% pay their own bills, Grove and Prince found. This results in a sort of detachment from the world and creates "the low level of awareness that most jet owners have about their finances," they say. Indeed, it would take a curious psychological composition to comprehend spending $147,000 a year on watches, as the jet set do. Or $117,000 on clothes. Or a whopping $248,000 a year on jewelry. These people need serious help with their ... finances. And that is partially why Grove and Prince conducted the survey - as a note to advisers who might be able to help people with complex money issues. More

Ode to Bed Bath & Beyond


How do I love thee? Let me count the ways.

I love your vast collection of homewares temptingly displayed
I love your registers draped with curious tools for every occasion
I love the no questions asked return policy—I love it over and over again.
I love your mounds of fluffy towels, your decadent linens—5000 count sheets, who knew
I love your dishes and Dysons, your Cuisinarts and candles
Your lava lights and laundry tools
For every home need, you are there for me
But most of all I love your 20% off coupons that arrive in the mail.
For no matter the expiration date or how many coupons I collect,
Bed Bath & Beyond lets me save on great stuff Everyday,
Even stuff I didn’t know I needed.

Ten (real and online) stores I shop regularly:

Whole Foods Market (food as objects of lust)
Trader Joe's (do I need to tell you why?)
Amazon (book reviews and book discounts)
eBay (amazing stuff for amazing prices)
Become.com (duh!)
Target (tres chic for cheap)
Macy's (great sales)
Barnes & Noble (browse and great sofas)
Costco (great stuff cheap)
Bed Bath and Beyone (love those evergreen 20% off coupons)

My first acquisition was a piece of blue bubblegum from a candy machine when I was three. I still remember the joy of putting in my penny and getting a great big ball of shiny hard gum that was almost as big as my mouth. From that point on, I understood the power of shopping. I became a consumer and I haven't stopped since although I've moved well beyond my gumball youth.

I'd love to make this blog a dialog with other "professional" shoppers and by that I mean others who shop a lot or think a lot about shopping.

Right now, I'm struggling with a major shopping decision. I need to get a new vacuum. I've been blogging about it in my company's blog (www.become.com/pocketchange) but wanted to reach beyond our borders. BTW, can you believe that I get paid to write about shopping! (I do).

http://www.become.com/pocketchange/2006/08/i_need_a_vacuum_that_sucks.html

I need a vacuum that sucks (Part 1)


I hate vacuuming so let’s start with that. My Fantom vacuum lasted four years and now it barely laps at the dog hair, the handle is busted and the electric cord just disappeared inside the canister casing. So, it’s time to buy a new vacuum and I’m ready for a change. Of course, the yellow and purple Dyson’s caught my eye in the local Bed, Bath and Beyond as I’m a sucker for bright, shiny stuff. But that’s no reason to buy a vacuum—it needs to suck. The more powerful the suction, the better! So, I decided to research vacuum cleaners on Become (blatant plug!) and figure out what to do.
Boy, there are a lot of things to think about. Bagless or replaceable bags? Bagless is more expensive but-- to me-- replacing bags is like the razor and razor blades analogy or cheap printers and exorbitant ink cartridges. Then there’s the upright vs. canister issue. Is one easier to push, clean stairs, or get under furniture? However, on the issue of hepa filters, for this asthma girl, there’s only one choice—a heap of hepa to keep all those nasty little dust particles out of the old respiratory tract.
One of the best articles I found was called Yakko's guide to choosing a vacuum cleaner. This man knows about vacuuming and, while being pretty objective, he seemed to like the Dyson a lot (and not a word about the pretty colors!). Other good sources I found were Consumer Reports for a basic overview (although for details you need to actually subscribe) and Appliance.com.
So, what vacuum am I going to buy? I’ll tell you next week. I’ve got to buy one this week or my house will be buried under dog hair. (Is my dog the only one that sheds year round?). If you have any recommendations, please leave a comment!
Mimi

http://www.become.com/pocketchange/2006/08/i_need_a_vacuum_that_sucks_par.html

I need a vacuum that sucks (part 2)

Okay, so I cheated. I couldn’t figure out which vacuum to buy just by reading Become.com’s research (See part 1). So I brought home two to test drive. And yes, I did fall for the shiny purple Dyson DC 14 for animal hair. I also bought the Sears Kenmore Progressive Canister model that got “Best Buy” ratings from Consumer Reports.
Last night, we took them for a test drive. Since the Kenmore was about half the price of the Dyson, we opened that box first. It took a while to figure out how to assemble it as the instructions looked like hieroglyphics. When we finally took it for a ride on the carpet, it didn’t seem to suck up all that much stuff. It just grazed. And it took expensive HEPA bags (2 for $8) that I’d need to buy on an ongoing basis.
My significant other (S.O.) then got into the act and opened the Dyson DC 14. This bagless purple machine is outfitted like a Harley and as powerful to drive. It sucked unbelievably well. We re-vacuumed the same rug and it picked up stuff that’s probably been lurking since the Paleolithic age. We ended up cleaning the whole house. The place felt so clean you could eat off our floors. However, we were so exhausted and sweaty from pushing that big palooka that we just sprawled there ourselves.
Not going to work! While S.O. enjoyed the trial run, I know he’s not planning to push that incredible hulk on a regular basis. So, I’m back to square one. I feel like Goldilocks at the Three Bears house. The first vacuum was “too soft” on dirt. The second was “too hard” on my back. I need to find one that’s just right!
We’re returning both today and I’ll resume the hunt shortly. We bought ourselves some time by vacuuming the whole place last night!