Super Savvy Money Advice From 5 Hollywood Superstars
While Hollywood celebrities earn millions, what most people might not be aware of is that they also spend a lot. This is the reason why we hear some of them ending up bankrupt when their careers start to slow down. On the other hand, there are some smart celebrities who choose not to spend every cent that they earn and, instead, let their money flow in a more practical and realistic manner. Here are some of them.
“Live Below Your Means”
Hollywood celebrities might make tons of money out of their work, but not all of them live the lavish lifestyle that you might be familiar with. Despite earning big from “The Hunger Games” and a slew of different high paying movie franchises thereafter, Jennifer Lawrence has not blown any of her paychecks on anything outrageous.
She bought a Chevrolet Volt for only $39,000 and still lives in the same three-bedroom apartment that she got when she first moved to LA, even though she can already afford more luxuries now. She is also thrifty even when it comes to small things. She even prefers to park her own car rather than avail of valet services.
”Take Advantage of Sales”
You might associate celebrity lifestyles with expensive cars, designer gowns, pricey bags and a lot more. What you might not be aware of is that some of them could are even thriftier shoppers than you are.
Sarah Michelle Gellar, star of “Buffy The Vampire Slayer,” likes eating fresh organic food so she goes on trips to the supermarket very often. She, however, does not splurge as you would expect. Instead, when she shops at Whole Foods, she asks what fish are on sale and brings a lot of coupons with her. “Why should you pay more for something that someone else is paying less for?” asks the star.
“Think Before You Buy”
You might remember him struggling to make it big as a homeless man in the finance industry in “The Pursuit of Happyness.” But Will Smith’s real life financial IQ is not too far from one of his most striking roles. Smith is popular for the quote “Too many people spend money they haven’t earned to buy things they don’t want to impress people they don’t like,” but things were not always easy for him. In 1990, he was nearly bankrupt after underpaying his income taxes.
This tragic experience served as his wake-up call and realized that while earning money may be fast in the entertainment industry, keeping as much as you can is a different story. Since then, he has been consistently listed in Fortune Magazine’s “Richest 40,” which shows the richest Americans who are not yet 40 years of age.
“Share Your Blessings”
Keanu Reeves might be one of the most successful actors of his generation, but he does not care about money at all. Unlike a lot of other actors, he is known for not haggling with large paychecks, and even gives away most of his earnings, including to the crew who work on his movies. When asked about such generosity, Reeves revealed that he is such so that he can help people pay off their debts.
Keanu Reeves truly went through a lot, but this has not stopped him from making other people’s lives better. Despite all that success, he still lives in a small apartment in New York and takes the subway on a daily basis.
“Contract Debts Sparingly and Wisely”
Zooey Deschanel is proud that she carries a $0 balance on her credit cards and that her only debt is her mortgage. She also sticks to a strict budget, where she only consumes 25% of her monthly income. While most of her earnings are saved, $1,500 goes to donations.
A large portion of her money is also invested in real estate. While she has a knack for vintage clothes, she gets them with discounts most often. She also uses coupons for most of her purchases.
Instead of being broke and miserable, these Hollywood celebrities had the future in mind and chose to spend wisely. Were you inspired by how these A-listers keep their money? Share with us your thoughts in the comments below.
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