"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 gifts to give your loved ones this holiday season.
“Here is Trippon’s annual top 10 list of the most expensive holiday gifts 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
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. 1-Degree North Pole Dogsled Expedition - $37,500
9. Serendipity Frrrozen Haute Chocolate - $25,000
10. Friends of Cashmere Classic Pet Bed - $399
"Each year it seems that American’s 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.”
Trippon believes that people avoid arguing about finances when they take the time to become educated about money together.
“Get real and deal with your budget,” says Trippon, “Be honest with each other about your money habits and come up with a plan to spend it as a couple. It will improve your love life!”
Trippon 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.
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