WHAT: Purple Lab Cosmetics

WHEN: 2007

WHERE: New York, NY

HOW: It all started with a cocktail party. “I ate so much that after twenty minutes, I felt full and uncomfortable, like my pants were suddenly one size too small. I told my husband I had to go home and he was a little disappointed…I jokingly said, “Well, if my lip gloss would plump my lips and not my hips, I wouldn’t be in this mess.” And with that, the idea for Purple Lab Cosmetics was born. “The light bulb in my head blinded me,” says Robinovitz. “What if there was a lip-gloss with plumper and appetite suppressant?” she thought.

After that fateful cocktail party, Robnovitz picked up the phone and called a friend who worked at a major makeup brand to see if she could make the product. “My husband grabbed my phone and said, “YOU make this product. This is the start of your brand!”

Two weeks later, Robinovitz trademarked “Huge Lips Skinny Hips,” a lip gloss that plumps your lips and curbs your appetite, seting the wheels in motion for developing her brand. “I had no idea what I was doing but after asking around, I found a lab, who recommended a manufacturer for components. I joined a beauty organization so I could create a network of insiders who could guide me,” says Robinovitz.

To get the product off the ground, Robinovitz and her husband invested their life savings into the new brand. “In the beginning, the investment didn’t seem large. What started as $5,000 turned into $50,000. And it hurt when I crossed the threshold of $250,000.” At one point, Robinovitz even considered selling her engagement ring. Thankfully, today, Purple Lab is funded by outside sources—and Robinovitz still has her engagement ring. “We now have investors and partners, which was vital and really the only way for us to take Purple Lab to the levels we envision,” says Robinovitz.

When Robinovitz started her brand she was working as a consultant, creating strategic communication plans for fashion and beauty brands. Eventually, burning the candle at both ends took its toll. “I almost didn’t have a choice. When I started the business, I had no idea it would take the amount of time and energy it took. And by the time I realized, I was so “in” – financially and emotionally – that there was no turning back,” she describes.

Within the next year, Purple Lab hopes to launch seven new products and cross the multi-million dollar revenue threshold. Robinovitz plans to base her next seven products (everything from mascara to hair product) on something she likes to call “double duty beauty.” “Everything will be about double duty beauty – chic, innovation, fun wrapped around science forward technology and cutting edge ingredients,” she describes. A former fashion, beauty and lifestyle journalist, Robinovitz promises that her products will be top of the line. “I have very discerning taste after being in the media, writing about beauty, and trying every single product there is to try for over a decade,” says Robinovitz.

HER ADVICE: According to Robinovitz, facing your fears head on is key to succeeding as an entrepreneur. “Do it. Lose all fear. Take a risk. Think of yourself as the baby chick learning to fly and just jump out of the tree,” she suggests. “Trust your vision and instincts,” she adds.

Want to win your own tube of “Huge Lips Skinny Hips?” Click here and write “Purple Lab” in the message box.

- Traci, Alaska

Whether or not adding your name to your husband’s accounts will improve your credit score depends on a couple of factors. “If the account is new, or young then your score could go down,” says Credit.com’s John Ulzheimer. He adds that if the accounts become overly utilized, it could ding your score as well. However, if your husband’s accounts are well established and you don’t foresee over-utilization being an issue, by all means, add yourself as an authorized user. Here’s why doing so can give your credit score a boost:

It can lower your utilization ratio. When you sign on to your husband’s accounts, it will affect something know as your aggregate revolving utilization ratio, which in turn affects your credit score. Revolving utilization is the amount of your revolving credit limits that you’re currently using. Revolving accounts are those where your monthly payment is based upon your balance. Your revolving utilization is equal to your total balances divided by your total credit limits. “If by being added she lowers her aggregate revolving utilization then her score will likely go up,” says Ulzheimer. To improve your credit score, you’ll want to aim for revolving utilization ratio that’s at a level of 10 percent or less.

It can give you a longer credit history. “If by adding the account she significantly increases the age of her credit report, then her score will likely go up,” adds Ulzheimer. If you have a credit history that’s on the short side, adding yourself to your husband’s more established accounts can boost your score due to the fact that 15% of your credit score is based on the length of your credit history.

Zero liability. While having zero liability for the charges to your husband’s account won’t directly improve your credit score, it can prevent you from having credit issues further down the road. “One huge upside is because there is no liability for the payment she can always “jump off” the account and save her credit,” says Ulzheimer.

So how do you keep from kicking off the new year in a load of debt? To start, you need to know what, exactly, your budget is. I’ve developed a handy calculator that can help you do the math, so go ahead and run your numbers now.

You’ll see that I’m suggesting you spend no more than 1.5% of your take-home pay on the holidays.  Why?  Because in my experience, that’s an amount most people can pay off by February — if not sooner.  You’ll see in the calculator’s results that putting the holidays on a credit card and then going the minimum payment route to erase them can have you paying for this holiday season through 2013 (or beyond)!

Once you have your magic figure, make a list of the people you typically purchase gifts for, and how much you can spend on each person, using your overall budget as a guide. (Be sure the amount you settle on for each gift is inclusive of shipping charges, taxes, and other incidentals.) Not only will organizing your thoughts into a list keep you from forgetting anyone, it’ll also help fight off distractions, like the cashmere sweater your mom would love but, sadly, you can’t afford. And remember that if you seem short on cash, you can always turn to inexpensive or even free gifts – offer to baby-sit for your best friend’s kids — joint gifts for couples or families or (a personal favorite) Secret Santas.

One final, favorite tip: If you’re like me, you might have a few gift cards you’ve accumulated over the last few birthdays or holidays. There’s nothing wrong with using those for your holiday shopping – it’s essentially free money to add to your budget, and no one will be the wiser.

WHAT: Jellyfish Art, a company that designs decorative, custom made and desktop jellyfish aquariums

WHEN: 2008

WHERE: San Francisco, CA

HOW: They often say that in order to be successful in business, you have to start out doing the dirty work. Just ask twenty-five-year-old Alex Andon, founder of Jellyfish Art. “Before starting Jellyfish Art I was working as a lab technician at a biotech company…my job was to process monkey, rat and human stool samples, which was a nauseating task,” says Andon. A marine biology student in college, Andon always had an interest in captive jellyfish breeding and knew how much of an attraction jellyfish were at public aquariums. “Jellyfish have been hugely popular since scientists discovered how to display them in captivity about ten years ago,” says Andon.

One day while working at the biotech lab came Alex’s “ah-ha” moment: Capitalize on people’s interest in jellyfish by making it possible for individuals to have jellyfish as pets. “No company had commercialized them because they require special tanks and food…I started the business to make it possible for people to have their own pet jellyfish,” explains Andon.

With an idea and $15,000 Andon began to develop Jellyfish Art. He worked nights and weekends on the business and eventually, its success forced him to leave his biotech job. “I left my job when I realized Jellyfish Art was becoming a real business and I couldn’t possibly get it off the ground while keeping my day job,” says Andon. Although quitting gave Andon the opportunity to devote all of his time to the fledgling business, he says it was one of the hardest things to do. “Leaving a steady paycheck is very nerve-racking. When you have your own business, your performance is directly tied to your rewards,” says Andon.

Today, Jellyfish Art is thriving. Andon has sold 14 custom aquariums, some for upwards of $20,000 each. Just recently, a restaurant in Seattle purchased an aquarium for $25,000 and Andon also sold a tank to the studios where the popular shows Gossip Girl and 30 Rock are filmed. Sales of the $249 desktop model are keeping Andon busy too, with 60 of the tanks ordered since its release. In the future, Andon sees the desktop tank as the next decorative novelty item—similar to the lava lamp. “This product brings the price low enough so anyone can have pet jellyfish. I want to see the Desktop Jellyfish Tank become a hot novelty product,” says Andon.

HIS ADVICE: According to Andon, persistence pays off. “The most important principle to stick to in the beginning is persistence because it can overcome any obstacle. Pick a few simple goals, outline how you will reach them, and then stop at nothing to get there. It will require a lot of hard work but it will be worth it,” says Andon.

Well, for the record, I like this movie. It’s one of those — like the American President or Serendipity — I  watch every time it’s on TV. But the embarrassment factor?  I don’t think so.

And neither does the randomly-selected, not scientifically-valid, sample of folks I’ve been asking a similar question: Would you rather have your debit card turned down at checkout for insufficient funds or fork over $35 to $39 in overdraft fees?  “Are you kidding?” is the typical response.  “Let them deny the card.”

Starting July 1, 2010 they’re going to have to.  At least unless you let them off the hook. The Federal Reserve has ruled that banks will no longer be allowed to automatically enroll their customers in overdraft protection programs for ATM and most debit card transactions. This means, unless you’ve got the money in your account, your debit transaction will be denied and you’ll have to come up with some other form of payment.  That’s great news, particularly for anyone who’s been subjected to the multiple fees overdrawing your account and then debiting freely can layer on in a single day.  It can, literally, cost hundreds.

The question is — what do you do now, until the new rule takes effect?  Well, you can hope Congress takes action.  That might put a lid on fees creeping higher, though it wouldn’t likely speed up the clock.  The more effective strategy: Tell your current bank you want to opt out NOW.  It may work.

Bank of America began allowing consumers to opt out of overdraft in mid-October and won’t charge overdraft fees if you’re less than $10 overdrawn.  Starting next June, it will also start to limit the number of overdraft fees a single account can incur in a year.

Chase will also allow opting out as well as cutting the number of overdrafts charges per day you can rack up (if you don’t opt out) to three from six.

And Wells Fargo (and Wachovia) will also let you opt out as well as eliminating fees on over drafts of $5 or less and capping fees at four per day.

If you’re assessed a fee, call and complain immediately.  The more business you do with the bank, the more likely you are to see it reversed.

Finally, how about banking online — if you’re not already — so that you can keep better tabs on the money flowing into and out of your account.  A few keystrokes and you be able to avoid the problem entirely.  No matter when your bank decides to join the parade.

-Toree, Iowa

Working from home definitely has its perks. “You don’t waste time commuting. You can be home for your family when you need to. You can usually set your own schedule. You don’t have to pay for a work wardrobe,” are just a few of them, says Allison O’Kelly, CEO of MomCorps.com. While working from home can make things easier, searching for a position is anything but simple.

To sidestep work from home scams, start your search with sites that feature only vetted work from home opportunities.  Two of my favorites are Women for Hire and Mom Corps. Although both are geared towards women, the sites provide free listings of legitimate work from home jobs for both sexes.  Another place to check for work from home jobs is directly with companies.  For example, JetBlue has agents that work from home.

Once you think you’ve found a real work from home opportunity, do a little poking around. Start by asking if you can speak with current or former employees. “The client should be able to connect you with others that have worked with the organization so you can learn about their experiences,” says O’Kelly. If the job-listing provider can’t comply, consider it a warning sign.

There are other red flags you should be on the lookout for too.  If the employer promises you can make a lot of money with little or no experience, its more than likely a hoax. Avoid companies that ask you to pay for training, pay for supplies or wait a month before you get your paycheck too.  “Unless you are buying a business, you should not need to pay money to work from home. You should not be required to pay for an expensive training class or materials to work from home,” advises O’Kelly.

If the listing you’ve found passes these tests, you should still vet it with the Better Business Bureau to be 100% sure that it’s an authentic work from home opportunity.  You can do so by clicking here.

WHAT: Myself Belts; a line of belts for children and adults featuring a one-handed patented belt closure which allows the wearer to open and close their belt easily with only one hand

WHEN: 2003

WHERE: St. Louis, Missouri

HOW: When Goldfarb’s son ditched his diapers, the idea for Myself Belts was born. “We discovered a void in the marketplace when my son was 3 and became potty trained. Without the bulk of his diaper, his pants didn’t fit him correctly anymore and when we searched for a belt, we discovered that there were not any belts on the market that young children could actually use independently,” says Goldfarb.

From there, Goldfarb and Eason took their idea and ran with it. “We did a patent search and discovered that our idea was actually an invention. We patented the Myself Belts’ belt closure and then began the steps of actually manufacturing our line of belts,” says Goldfarb. Using their own personal savings, the sisters took a risk, put five figures into launching the business and ordered 10,000 belts before receiving any orders from stores. Thankfully, trusting their instincts paid off. “By the time our belts arrived, we already had 100 stores that had placed orders from a marketing mailing that we had sent out while the belts were in production. We were pretty relieved that our instinct was correct!” says Goldfarb. Today, Myself Belts are sold in retail stores across the country and on a variety of websites including Target.com.

When Myself Belts officially launched in September 2004, Goldfarb, a former social worker and therapist dedicated herself fully to the company. Her sister went from working full-time to part-time as a financial planner for a wine company. “We were both very happy in our previous professions and had never planned to become entrepreneurs. It didn’t take long for the business to require our full attention,” says Goldfarb.

Within their first year of business Goldfarb and Eason’s business was profitable. To date, the sisters have sold over one million dollars worth of belts, and despite the state of the economy, they’re actually seeing revenues that are up 20-25% from last year. Their belts are increasingly in the spotlight too—thanks to a following of celebrity fans. “We have heard from celebrities like Courtney Cox, Brooke Shields, Sarah Jessica Parker, and Shaquille O’Neal who all love their Myself Belts. Last week Madonna’s daughter Mercy was photographed wearing a Myself Belt,” says Goldfarb.

THEIR ADVICE: According to these sisters, one of the most important things you can do when starting your own business is asking questions. “Our best tip of advice is to ask questions. Ask, ask, ask!” says Goldfarb. “We have found that people are extremely helpful and generous in sharing knowledge and it never hurts to just reach out to someone and make that phone call,” she adds. For these sisters, customer service is key too—especially when your company is small. “When you have a small business, I think that customer service is the element that can separate a company from the pack,” says Goldfarb. “Having customers understand who you are and what your intention is with your product is of utmost importance. We pride ourselves on keeping our customers happy and building a customer base that is supportive and rooting for us because we’re just like them,” adds Goldfarb.

Would you like to win a Myself Belt? Click here and write “Myself Belt” in the message box.