How much does being ugly really cost?

Being ugly may not only be a detriment to your social life, but it could also greatly hinder your financial potential. There have been numerous studies indicating a correlation between beauty and professional success. And the verdict is…. hot people make more.

Don’t believe me? A study conducted by the Federal Reserve Bank of St. Louis, found that hotties-with-naughty-bodies make 5% more per hour than their average looking colleagues. Even worse, “unattractive” people were found to be making 8% less than average looking persons.

Not only do the attractive people make more money, but they also have a higher statistical shot at landing the job in the first place. Here’s a quote from a CNN article on the study…

After variables like education and experience are factored out, Fed researchers said the “beauty premium” exists across all occupations, and that jobs requiring more interpersonal contact have higher percentages of above-average-looking employees.

And here’s another snippet from a published study in the Annals of the New York Academy of Sciences…

When someone is viewed as attractive, they are often assumed to have a number of positive social traits and greater intelligence.

That means beautiful people (like Justin Bieber) are not just gorgeous, but also perceived as smarter. Now I know why so many people think I’m a geenyus. Haha, get it… “Geenyus”. It’s funny ’cause I spelled it wrong. Man I’m unBIEBERlievable (yeah, I got the Bieber Fever).

Don’t worry though. Even if you are beat-up-from-the-feet-up or tore-up-from-the-floor-up, you still may have a chance at earning a decent wage. That is if you are tall. A study by two professors at the University of Florida found that “tall” people earn a substantially higher wage than their shorter counterparts, with each inch providing $789/year more in income. So, I guess it’s true… size matters 😉

Moral of the story kiddos. Don’t be ugly and don’t be short. Otherwise, it could cost you some major moolah. If you’re not attractive, don’t worry. There is always plastic surgery. I mean remember how good Michael looked after all his plastic surgery…

Have you ever witnessed some beauty biased in the work place? Can any level of “equal employment policies” prevent beauty from becoming a professional factor? Who are some exceptions to the “beauty” rule (think Bill Gates, Jack Black, Amy Winehouse)?

Your Net worth is more important than eating!

I went around the other day asking some of my friends if they knew what ‘net worth’ meant. I realized something after hearing their definitions… I need to get new friends. They didn’t have the slightest clue. Seriously people, no clue? Your net worth is really important.

If you are serious about getting your financial life in order, you already know what your net worth is and how to calculate it. If you’re a financial infant, than you probably don’t so let me explain via this super technical formula….

If you don’t know what your net worth is right now, I’d encourage you to take a minute to figure it out (you can even use this calculator to help). After you’ve got it calculated, you can then compare your worth to the rest of America….

Wanna know something? Your net worth TODAY isn’t really that big of a deal. You can’t change the past, but you sure can change your future. The most important thing about your net worth is tracking it. If you don’t update your net worth at least once a year (I do mine every month), you’re a big fat stupid head. Yeah, that’s right… a stupid head!

Sometimes you can’t really control the fluctuation in your net worth (like if you own a home and it temporarily depreciates or if the stock market is having a bad month), but there are two general rules.

1) If you’re net worth goes up each month, that is AWESOME.

2) If your net worth is spiraling downward, you may have some BIG problems.

So remember, when it comes to your net worth, it’s not your current number that matters. It’s where your worth is going (hopefully up) that’s important.

Questions for my beautiful readers…

What is your net worth? (Mine is $41K)

How long have you been tracking it? (2 years)

Is it generally moving up?

If you haven’t calculated it before why not?