If you can afford the best without going into debt, that's great! But I think most people forget that this holiday is about being in the right spirit, not getting overloaded with debt, which often produces money arguments the rest of the year.
Houston, TX (PRWEB) December 16, 2007
Americans are expected to dish out a staggering $474.5 billion this year on Christmas shopping, according to the National Retail Federation (NRF). Jim Trippon, CPA and one of America's foremost authorities on the money habits of self-made millionaires, has released his annual list of the most expensive Christmas gift ideas to give your loved ones this holiday season.
"Each year it seems that Americans top themselves in spending for Christmas," says Trippon, "If you can afford the best without going into debt, that's great! But I think most people forget that this holiday is about being in the right spirit, not getting overloaded with debt, which often produces money arguments the rest of the year."
The NRF said that Americans plan to spend an average of $923.36 in total this year, up 3.7 percent from the previous year's statistics. Given the credit card rates that are often at 24 percent and assuming minimum payments, Trippon says that this year's holiday shopping will cost the average consumer closer to $6458.87 when interest and finance charges are included.
Here is Trippon's annual top 10 list of the World's Most Expensive Christmas gift ideas for 2007:
1. Bugatti Veyron -- $1.7 million
2. Neil Lane 15 Carat Diamond Earrings -- $750,000
3. Runco 103-Inch Plasma Display -- $99,995
4. Swami Conversational Robot -- $75,000
5. Tiffany & Co. 109.73 Kunzite Bow Brooch -- $74,500
6. Vertu 7.2 Carat Pink and White Diamond Phone -- $73,000
7. Fendi Selleria Bag -- $38,000
8. North Pole Dogsled Expedition -- $37,500
9. Serendipity Frrrozen Haute Chocolate -- $25,000
10. Friends of Cashmere Classic Pet Bed -- $399
Trippon believes that one of the best presents couples can give themselves is to become educated about money so that they can avoid arguing about finances in the New Year.
"Get real and deal with your budget," says Trippon, "Be honest with each other about your holiday spending plans and come up with a budget for Christmas as a couple. It will improve your Christmas and your New Year!"
Trippon, a financial advisor to some of America's wealthiest families, is the author of the Amazon best-seller, How Millionaires Stay Rich Forever: Retirement Planning Secrets of Millionaires and How They Can Work For You and the upcoming title, China Stock Guru.
For further information or to schedule an interview with Jim Trippon, contact Amal Zaid at 713-661-3806. All permissions have been obtained for images of items on this year's World's Most Expensive Christmas Gift list. Most items on this year's World's Most Expensive Christmas Gift idea list are available for on camera use and in studio interviews on national television shows with 2 days advance notice.
Publication Data: How Millionaires Stay Rich Forever: Retirement Planning Secrets of Millionaires and How They Can Work For You - by Jim Trippon, CPA; Published by Bretton Woods Press LLC and distributed by Midpoint Trade Books; February 2004; 254 pages; 21.95; 6x9 Hard Cover; ISBN: 0-9723389-1-8
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