★ This Week in #FinancialGossip

Posted June 1, 2017 6:00 am by with 4 comments

financial gossip

This is part of our Financial Gossip series, curated by our friends at Invibed. Every week, they scour the news to bring us the most interesting stories around money. Here are this week’s gems :)

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carry passed out guy

Rich bachelors heading to the Hamptons this summer are adding a vasectomy to their prep list.

According to these guys, a nice house makes you a prime target for gold diggers looking to get pregnant — and child support. The procedure is usually covered by insurance or costs $1,000 out of pocket.

A small price to pay if you’re looking at 17% of your salary for 18 years… but… umm… what?!? “Some guys do an analysis of the cost — for three days of discomfort [after a vasectomy], it’s worth millions of dollars to them,” urologist Dr. David Shusterman told the New York Post.

Some procedure-goers choose to freeze their sperm as well, in case they do want to have children, you know, like after Labor Day. “Rich guys are a population that’s abused a lot.”

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the rock eyebrows gif

Trump must think America needs another subscription box service because he is launching his very own version for $69/month.

No, the boxes will not contain an assortment of red ties and Scotch tape but something much more essential to your daily life: vintage Trump merch (aka the leftover stuff from his 2016 campaign).

But this subscription box, appropriately titled Big League Boxes, has very little to do with what’s inside. Your $69 recurring donation will help fund the Trump re-election campaign.

Since we’re barely six months into his first term, it feels a bit premature. But then again, after Baywatch’s disappointing $23 million weekend, Dwayne Johnson may just take a break from acting and set his sights on Washington after all. Perhaps Mr. President can already smell what the Rock is cooking?

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thriftshop gif

A piece of “costume jewelry” purchased at a West London garage sale for £10 GBP turned out to be a diamond ring worth $325,000.

For 30 years the ring’s new owner assumed it was fashion jewelry without a second thought. Until someone suggested she have it appraised. Turns out that oversized jewel was actually an enormous 26.27-carat diamond.

The 19th-century, cushion-cut white diamond will go up for auction on June 7 with a starting bid of £250,000 GBP (or $325,000 USD).

While flipping items from garage sales and flea markets can be lucrative for some, this is the literal definition of a diamond in the rough. But still, who’s down for a little bargain hunting this weekend?

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i declare bankruptcy michael-scott

Time heals all, or at least all credit scores.

This April, the average credit score among U.S. consumers reached a record high of 700, while risky borrowers (those with scores below 600) dropped to a new low of just 20% of the U.S. adult population. These numbers are the best seen since 2005 when Fair Isaac Corp (creator of FICO credit scores) began collecting the data.

So why are Americans so creditworthy these days? Unemployment is down and economic growth is steady. But we are also hitting that sweet spot post-recession where bankruptcies and foreclosures are starting to disappear.

According to a Barclays PCL report, personal bankruptcies will fall off the credit reports of 6 million U.S. adults over the next five years.

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we getting money gif

How much scholarship money did you get for college? We’re guessing less than Shariah Edwards who received $7.6 million.

The high school graduate set out to be one of her school’s Million Dollar Scholars, or a student that earns at least $1 million in scholarship money, but she was shocked when the grand total racked up to over seven million.

Also surprising? Her 149 acceptance letters. The straight-A student obtained a lengthy list of schools that don’t charge application fees from her college counselor, then diligently worked her way down the list submitting application after application.

For past weeks’ financial gossip, click here.

(There was no new blogger gossip this week. Hurry – someone do something juicy!!)

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[All gifs by Giphy]

Dani Pascarella, CFP® left her job on Wall Street to close the financial gap and create a new model within the personal finance industry. Along with co-founder Korrie Martinez, Dani built Invibed, a fintech company that provides financial education and early stage Wealth Coaching for young professionals. Sign up for their weekly newsletter at subscribe.invibed.com!

4 responses to ★ This Week in #FinancialGossip

  1. Mrs. Picky Pincher June 1st, 2017 at 9:17 am

    Wow. The vasectomy thing is hilarious to me. But hey, if you know you don’t want kids, why not? I do wish we had better long-term birth control alternatives for men that didn’t involve surgery.

    Reply

    • Dani and Korrie June 1st, 2017 at 11:02 am

      We’re so glad you liked it! And yes–we do need some better long-term birth control alternatives for men!

      Reply

  2. Lily @ TheFrugalGene June 1st, 2017 at 7:48 pm

    I’ve always had that crazy dream that one of my trinket ebay finds might turn out to be a rare historically valuable gem haha. Now I know it’s not impossible

    Reply

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