Thoughts and Riches

.....a blog about personal finance, motivational stories, deals, and special offers

Books

Web Domain Registration

Friday, June 08, 2007

Finance lessons from Paris Hilton

There seems to be lot of bru-ha-ha regarding the early release of Paris Hilton. She was supposed to be sent to jail for 45 days for drunken driving but was let go from prison after just 3 day (unless of course, the decision is reversed). Through out the day, kept hearing in the news whether there are different set of rules for celebrities vis-a-vis common people.

Until recently, I hadn't heard about Paris Hilton nor for that matter, do I know much about her even now. However, in my view, I do think that there are different set of rules for celebrities vis-a-vis common people. However, I think some times it worse being a celebrity as happened in the case of Martha Stewart's insider trading scandal. I think Martha Stewart got tougher sentence on account of her being a celebrity. Similarly, in case of Paris Hilton, who knows whether a regular, unknown person in her place would have even been arrested.

Anyways, what has Paris Hilton got to do with my personal finance blog? I think the lives of many celebrities have a lot to teach about personal finance. One obvious thing is that often times people who simply inherit money rather than earning it do not really understand the value of money. And this is often true whether a person is celebrity or just a regular, average person. As a result, they are more likely to squander it on frivolous activities and things. In my view, people who work hard to earn their money are less likely to squander it as they understand the effort that goes into earning it.

Another important lesson is regarding teaching our kids the role of money. As a parent, I believe that it's important to teach kids the importance of hard work as well as the value of money. Right now, my kids are young but as they grow up, I will like them to help out with the household chores rather than simply handing them an allowance. Hopefully, they will also understand the importance of not being wasteful. That's not to say they should live like a monk but the idea is they should have a balanced life. Whether or not my kids learn this lesson remains to be seen; will find out only when they grow up! In the mean time, as a parent, I believe that its something that's worth the effort on my part.

For related articles on Paris Hilton, check out:

Hilton sent back to jail in hysterics

Hilton ordered to return to court

Paris Hilton Jail Sentence Unfair?

Paris Hilton Won't Appeal Jail Term, Likely to Spend About 23 Days in Jail

posted by Ruby @ 2:15 AM

0 Comments:

Post a Comment

<< Home

See important Disclosure and Disclaimer

Favorite Quote

"If you look at what you have in life, you will always have more. If you look at what you do not have in life, you will never have enough".
- Author Unknown

Disclosure

This site uses cookies from companies like Google and others to enable the companies to deliver their services, personalize their ads and product offerings, and for traffic analysis. Information about your use of this site is shared with these companies. By using this site, you agree to its use of cookies. Additionally, this site, including blog posts, may contain reviews, links, banners, text and other forms of advertisements for products, services, courses, and so forth of companies of which we may be an affiliate member or for which we may get paid for referrals. This site may also contain blog posts for which we are paid, as well as blog posts regarding products or services of companies from which we may have received complimentary products or services.

Reward Surveys/Panels/Shopping/Contests