The following is a guest post by Buck Inspire, who’s living a fulfilled life within his means while delving into personal finance sprinkled with dining, entertainment, pop culture, technology, and travel.
Since Squirrelers broke down a player potentially giving up money for a shot at an NBA championship in another post, I figure he’ll enjoy my take on another celebrity’s money adventures. Justin Bieber made waves recently when he vacationed in Hawaii with his girlfriend Selena Gomez. I don’t know about you, but at 17, I had a minimum wage job so $10,000 would be closer to a year’s salary than accommodations for one night!
Bieber Stimulus Package
From another angle, he is stimulating the economy. The beautiful ocean front luxury hotel provides tons of jobs for Maui. Hawaii’s primary industry is tourism and without big whales coming through, five star hotels like the Four Seasons Maui at Wailea could collapse under all its expenses.
It’s All Relative
According to Forbes magazine, the Biebs raked in 53 million dollars. Using simple math, the Biebs makes about 1000 times more than the average US household. Taking his hotel rate $10,000 and dividing it by 1000, his vacation getaway translates to us mere mortals as $10/night. Don’t average Americans spend more than $10/night for vacations? After the year he had, Justin deserves some rest and relaxation. Mind boggling as it may be, he was actually being cheap!
Selena Gomez is no slouch either. Since both of them are young Hollywood, if he didn’t spend at least that much, wouldn’t he risk losing her because he wasn’t cool and too frugal? Too frugal, not cool?!? Ah, to be young and in love. Who wants to think about retirement plans, buying a home, and controlling debt? Actually, with all that money, he really doesn’t have to worry. So why not spend $10/night, by his standards, frolicking on the beach with his girlfriend?
Who knows, money changes everything. I’m still gunning to be a Guru Gladiator. But since I am only a personal finance blogger with average income, I would max out my IRA, save for a house down payment, or fatten my emergency fund with that $10,000, thank you very much. Maui is a beautiful place, but not for $10,000/night. I would stash that cash on myself. It’s too bad I didn’t take more singing and dance lessons!
If you strike it rich, would you upgrade your accommodations? Why or why not?
Editor’s Comments: $53 million in one year, at that age? Kudos to the kid. With that start, retirement before college is possible. How about that!