If you have been dreaming about living the lifestyle of the rich and famous, it is not all glamorous and extravagant. Here are what some money saving tips from celebrities around the world. Learn from these celebs on how to manage your money.
1. Use coupons to save
The “House of Lies” star, Bell admitted on Conan that she’s very frugal. “I use a lot of coupons,” Bell told late-night host Conan O’Brien.
Country singer, Underwood shared with Racheal Ray on Everyday, that despite forgetting coupons sometimes, she does make a habit to cut them out.
Mother Monster tweeted to her followers about her bargain buys: “Why do people look at me like I’m crazy when I use coupons at grocery (stores) or try bargaining at retail, I’M FROM NEW YORK WHERE IS THE SALE RACK [sic].”
2. Have more than one income stream
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Jay Leno, the late-night host revealed in a Parade Magazine that he only spends money from comedy routines and doesn’t spend any of the money he earns from “The Tonight Show”.
“When I was a kid, I had two jobs,” wrote Leno. “I worked at a Ford dealership and at a McDonald’s. I’d spend the money from one job and save the money from the other. That’s still the way I am now. I live on the money I make as a comedian, and I put all the TV money in the bank. I’ve never spent a dime of TV money—ever.”
3. Take public transportation
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The “Mad Men” actor, Vincent Kartheiser told The New York Times in 2010 he prefers to use public transport to get around as opposed to a car.
“It’s wonderful,” said Kartheiser. “Instead of driving and being stressed out about traffic, you can work your scene, you can do your exercises or whatever on the bus.”
He must be saving lots of money from car loan, car insurance, road tax, tolls, parking fees and other expenses we all dish out on our cars.
4. Saving money is important
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Despite being one of the richest supermodels in the world, Tyra Banks believes in the importance of saving.
“I am frugal. I’ve always been this way,” Banks told The New York Times. “When I was young, my mom would give me my allowance, and I’d peel off a little each week and have some to spare.”
5. Teaching your child about money
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Sarah Jessica Parker, the “Sex and the City” star told Parade Magazine she refuses to spoil her son even though she could afford to. She still remembers growing up with a family of eight on welfare.
“[My son] only wears hand-me-downs because I’ve got all these older nephews,” said Parker. “I think it’s incumbent on my husband and me to really stress and to show James Wilkie by example what it means to owe your community something and that he is not entitled to the benefits of our hard work.”
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Twilight star, Ashley Greene benefited from taking pointers on money management from her dad. Greene told Marie Claire that just because she was in the successful Twilight franchise, it doesn’t mean the fame has gone to her head.
“I’m lucky because my dad taught me to be frugal and save,” said Greene. “And that’s important because I want to know that I don’t have to take an acting job for two or three years if I don’t want to and that I’ll still be able to make my house and car payments and buy food for my dogs.”
6. Be prudent with money management
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Actress & songstress, Zooey Deschanel, from New Girl has her finances revealed by TMZ last year after her split with her husband.
Per month, the actress, who was worth nearly USD3 million last January, will spend USD2,000 on clothes, USD800 in utilities, and $300 for phone and email. She even donates USD1,500 a month to charity.
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Local Indie artist, Yuna is learning about money management on her own now that she is branching out to entrepreneurship.
“Growing up, I never knew much about all this – savings and stuff like that. It’s only now that I go to the bank a lot; find out my options to ensure I am secure for the future. I really have to learn everything myself,” said Yuna to Personal Money magazine recently.
7. Being frugal pays
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Successful actress, Sarah Michelle Gellar remains careful about her money now, something she learned from her childhood, when money was tight.
“I take my reusable bag to Whole Foods so I get a discount,” Geller told Self magazine in 2007. “I go to Bloomingdale’s on double reward days. And I always print my dry cleaning coupons before I go. The main thing I want to do is make sure that I can take care of myself and my mother,” she said in 2000.
8. Saving for a greater good
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Other than forking out USD2.5 million for an island near Belize in 2005, Leonardo DiCaprio, actor and environmental activist tends to live on the cheap.
“I don’t pay lavish expenses,” he has said. “I don’t fly private jets. I still have only one car, and that’s a Toyota Prius. I don’t spend money on a lot. Money is very important to me because it allows me the freedom to choose what I want to do as an actor and most importantly because I want to accumulate enough so that one day I can do something really great and beneficial for other people, for the environment or for children.”
Even the rich and famous stars know the importance of managing money well. If there is one thing we can learn from these celebrities is that every cent counts.
Inspired to manage your money better? Learn how to save with these 10 simple and practical tips.
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