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Personal Finance Lessons We Can Learn from Celebrities

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When you think of the rich and famous you probably imagine a luxurious lifestyle full of the latest fashions, expensive dinners, and untouchable mansions. While many celebs choose to live glamourously, many choose to live within their means or modestly despite their high net worth. Even for multimillionaires, if funds aren’t managed properly, it can end in financial ruin. So what can we learn from the most budget-savvy celebrities?

Turns out, a lot. To name a few: fashions fade, no one is above the sale rack, credit scores matter, and donations can lead to healthy monetary habits.

Avoid Spending on Fads

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Comedian Tiffany Haddish knows that fashions fade, and she refuses to spend excess just to keep up with them, despite her PR team’s urging. Instead, she chooses to shop discount racks, and still has never purchased a designer handbag, despite her estimated net worth of $6 million.

Pay Your Loans in Full Every Month

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New Girl star Zooey Deschanel may have a character who struggles to pay bills as a teacher, but in reality, the star ensures she pays off loans in full every month. Doing so can improve your credit score, and keep your overall spending low and realistic to your income.

Make Charity a Habit

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Dolly Parton is no stranger to helping those in need. Singer, songwriter, entrepreneur, and actress — she ensures that a hefty portion of her income goes to charity. From creating a foundation for literacy to more recently donating $1 million to COVID-19 vaccine research, the star knows that regularly giving makes this aid habitual within her budget.

While stars seemingly have an unlimited amount of money, many of them still live modestly. At the end of the day, nobody can forecast the future, and managing your money well despite your income level can help ensure a secure life no matter what hurdles are thrown in the way.

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