We all remember James Bond, aka 007, aka Sean Connery, the retired hit man and/or spy who now sits on a log on the back page of the paper drooling over his super-expensive Louis Vuitton sports bag. We’re a lot alike, James and I. It’s all a matter of zeros – he was, if you remember, a double zero man. I have a few zeros to my name as well, mainly in my bank account. The other thing we have in common is a liking for Aston Martin Cars. This is relevant because the latest model, Aston Martin, was formally unwrapped at the Geneva Motor Show which took place in March.

I was there

I happened to be in Geneva at that time on the strength of a Personal Loan I had taken from the Personal Money Store to go to Switzerland to examine the plans for a new solar power station that is being planned for installation in Spain. That part of the visit went very well. I did the work, wrote my report, submitted my account, received a check, paid back the Personal Loan and then made the mistake of visiting the Car Show. The moment I laid eyes on that car, everything went into collapse. I have to have one! There will only be 77 made – imagine its value in a couple of years’ time.

The price

Now the price of the One-77 model is being tantalizingly released. There is no final confirmation but it is strongly rumored to be in the $1 million region. The construction will be a rigid carbon fiber chassis, a 7.3-liter V12 engine and more than 560kW of power. The car will weigh about 3,300 lbs and will be capable of a 0-100km/h sprint in around 3.5 seconds. Top speed, and this is the feature that excites both James and I, will be over 200mph. So when I pick up my grandson at the swimming pool just off Highway No 4 and the traffic is moving at a steady 7 mph, I will thoroughly enjoy all the features of my new Aston Martin.

The Mille Miglia

I am writing this within earshot of the death throes of General Motors coming from the TV in the next room. Here’s a strange item: The Mille Miglia is a celebratory road rally designed to evoke the spirit of the famous Italian road race. The participants are a selection of exotic sports cars from the years between 1920 and 1957. The rally takes place on the roads between Brescia and Rome. There were 377 entrants and there was not a single sign of financial problems or recession among any of them. I guess that for some lucky people it’s high-end auto-business as usual. Aston Martin must be feeling pretty confident about producing $1 million cars at a time like this.

I’m calling James

I will call James Bond in the morning and see if he is interested in some sort of joint venture with this new model Aston Martin, something like “You pay, I’ll drive”?

With today’s delivery of the International Herald Tribune came one of those glossy fashion magazines, this one men’s, for a change. The cover features a famous actor; I don’t know which one, maybe Brad Pitt, George Clooney or someone like that, sporting the unshaven look that gets me thrown out of the kitchen in my own home. On the back cover Sean Connery is sprawled on a wooden bench and leaning against a tree, looking very comfortable and at peace with the world. At his feet, a Louis Vuitton sports bag, filled, no doubt with Connery money.

For the rich and famous?

All in all, the magazine is 75 pages of macho articles such as yachts, suits, shirts, travel goods, shoes and sunglasses. Nine of the pages are full-page adverts for wrist-watches and there is an article on Rolex watches. I haven’t worn a watch since I retired, deciding on that momentous day that I don’t need a reminder of how fast time is flying by. But looking at this collection, I am tempted to apply for one of those Online Payday Loans so I can put down a deposit on a beautiful object.

The money in watches

The internet reveals all so I looked up the prices of the watches advertised and I am amazed.

• Stainless steel Rolex: $5,720
• Chanel ‘J12 calibre’ 3125: $18,000
• Patek Philippe 5396R: $33,760
• Lacoste: About $350
• Corum: $4,500
• Gc: About $500
• F. P. Journet: $32,900
• Ferrari: About $5,000
• Breitling: $6,425

Am I missing something?

I guess I could be pressured into spending the money to buy a watch for $350, but that would be my absolute outer limit. Not a cent more! $30,000 plus – no way. I would rather upgrade my car or do that kitchen alteration we’ve been talking about for years. It’s not as though an expensive watch is going to give me more time, is it? All it will do is give me the same time.

What about the recession?

The fancy watch manufacturers haven’t heard about the global recession either or perhaps the people who wear these watches don’t get caught up in recessions. But that’s not what the Forbes List reported. They reported some major changes in wealth distribution.

Elsewhere in the Magazine

Is it really worth $40,000?

The Louis Vuitton sports bag at Sean Connery’s feet is priced at $898. An Ermenegildo Zegna suit will set you back $1,795, a pair of Tod’s Loafers runs at $560 and once you add a shirt, socks, underwear and a Patek Philippe watch you will be a walking investment of about $40,000. What does the magazine advertise when there is no global recession?

Egon Schiele

The most interesting piece in the magazine was a series of 5 paintings of Egon Schiele wearing the latest in fashion clothing and sitting in various contorted poses. Egon Schiele (1890 – 1918) was an Austrian painter and a protégé of Gustav Klimt. Schiele was a major figurative painter of the early 20th century.

Schiele’s work is noted for its intensity, and the many self-portraits the artist produced. The twisted body shapes and the expressive line that characterize Schiele’s paintings and drawings mark the artist as an early exponent of Expressionism, although still strongly associated with the art nouveau movement.

How clever to re-dress Schiele in modern clothing and put him back in the same poses as he painted himself a hundred years ago. One thing is for sure, Schiele never bought clothes like those!

It’s almost like payday loans, but a different kind of borrowing. Ever thought of rocking a Louis Vuitton, Prada, Chanel, Gucci, or maybe a Versace? What about some stunning jewels? Perhaps you’ve been drooling over some of these high-end luxury accessories but have no money to actually get your hand on it. This company has found a way to expand the luxury of borrowing.

Bag Borrow or Steal – Like Payday Loans, Like Netflix

Bag Borrow or Steal, the nation’s largest “borrowed luxury” retailer, allows women to borrow designer handbags and jewelry. They have become the single largest rental luxury service online. The company operates a little like payday loans, and almost exactly like NetFlix. Customers pay a monthly fee for access to a collection of authentic designer handbags and accessories. You can keep them for as long as you want. When you feel you need a new look, mail the item(s) back and get new ones. You pay $15 a week for a Couch and up to $150 for Vintage. One of the best parts is that there is no late fee.

The Beauty of Borrowing

Bag Borrow or Steal has more than just luxurious handbags. Customers are also able to get their hands on fancy sunglasses, watches and beautiful jewels.  Everything is certified authentic and goes through a rigorous 10-point refurbishing process before it ships to you—so it arrives looking like new. If you’re worried about giving something too much “loving use”, the company also offers inexpensive optional insurance coverage against excessive wear.

You can also earn points as you borrow. When you build up enough points, you will be given a reward which plays as some kind of discount on your next borrow. If you borrow for 90 consecutive days you’ll earn six points per dollar you spend. What a way to borrow!

How to “Steal” a Handbag

Pay attention because this is one of the best parts. If you fall in love with an item you’ve borrowed, you can “steal” it! And no you silly, I’m not saying you can take it and run. The company offers the option to buy the bag at a discounted price determined by the accessory’s age, condition and how easy it will be to replace. If you have an account with them, you can visit your closet, select ENJOYING NOW and find the item you like. Once you find the item you’re looking for, click the STEAL IT button and a message will pop up telling you if the item is up for sale, and if so how much it will cost. Afterwards, all you need to do is simply hit purchase and it’s yours; as simple as applying for payday loans.

Borrowing a Handful of Luxury

The Seattle based handbag-rental company is looking to expand their luxury by offering luggages, evening wear and other “couture” accessories. The fairly-new luxury market is expected to grow at a rate of 15 percent each year, possibly reaching $1 trillion by the end of the decade.

Bag Borrow or Steal is a great way to rock the latest, hottest trends, from Sex and The City to European finds, without costing you a fortune. Best of all, everything is available at the click of a mouse. That means more time on your hands, especially when you have other important things to deal with. Just like payday loans, it’s quick and convenient!

Confessions of a Shopaholic

Becky Bloomwood of, “Confessions of a Shopaholic,” fame is the poster girl for young career women whose paths toward success require a pair or two of Jimmy Choos and a basic Louis Vuitton bag.  The problem, though, is the fact that Becky, like many of these women, almost never make the direct correlation between credit and cash.  They should, however, make this correlation because an uninformed pattern of credit card use may end up in huge payables that may take years to bring back to a positive standing.

Fact is stranger than fiction

The novel, owing to its fictional nature, shows how Becky forges on to use credit irresponsibly, making up excuses each time about how she absolutely needs that new dress or set of designer luggage.  But the saying that, “truth is stranger than fiction,” applies in many cases of young women in this same situation, treating their new credit cards as unending sources of cash that will pay for themselves somehow.  Throughout the book, Becky is hounded by letters from her credit cards’ bank manager, who repeatedly reminds her of her dues.  Ironically, Becky is a financial journalist—albeit one who knows finance in theory, but not in practice.

Cash over Credit

What Becky could have done from the start was to set an amount to cover all her potential expenses—a budget, in simple terms—and taken out  cash advance loans, if necessary.  Since her salary obviously isn’t enough to pay for all these new ‘investments,’ a cash advance would allow her to purchase a few classic pieces.  Classic pieces such as a good pair of shoes and a well-made business suit would have given Becky the responsibility of managing a fixed amount that she can apply and pay for without hassle.  Once this has been paid, she can choose to get another one, so she can buy that new outfit at Selfridges or a Denny and George scarf.

Learning Finance, In Simple Steps

Having the freedom of a credit card poses the question of maturity and responsibility, not to mention one’s knowledge of reality.  Obviously, Becky’s behavior runs on the negative end of the spectrum, since her concepts of credit card use were pretty much delusional.  But like the modern fairy tale it is, “Confessions of a Shopaholic,” ended with Becky finally paying off her debts, establishing a friendly relationship with her bank manager, and landing a millionaire boyfriend whose net worth would give her access to more shopping opportunities.  However, if things did not end up as perfectly as they did, Becky Bloomwood would have again been the excellent profile of one who would benefit from cash advance loans.  By taking out a payday loan that would pay for her unpaid credit card balance, Becky would have realistically reduced her debt and learned more life and financial lessons along the way.

Sophie Kinsella’s, “Confessions of a Shopaholic,” has become so popular that it has been adapted for film, and is due for release in January 2009.  Let’s just hope that the screenwriters are financially savvy themselves, so the millions of possible viewers of this movie would learn a thing or two about the huge differences between cash and credit.