The average person has at least thought about what it’s like to be a celebrity. The reality that would no doubt encompass that is enough to make me thankful it’s apparently not God’s plan for my life. The ‘fish bowl’ lifestyle big-name celebrities are forced to live isn’t all fun and games. Surprisingly, some tremendously wealthy people in Hollywood offer some pretty good family living advice, as well as helpful financial tips.
Jay Leno’s helpful financial tips involve savings
Most of us have read about this late night TV icon’s car collection. Anyone who has enough money to own nearly 300 vehicles likely has enough money to do whatever he wants, whenever he wants. What Mr. Leno loves to do is save money. He has always had more than one pay job at a time.
Leno says that when he was young, he worked at the ‘golden arches’ and also at a Ford dealership. His financial planning system included living off one of the incomes and banking the other. Perhaps surprising to many of his fans, he still lives that way today. In fact, Leno claims he has never spent a single penny he’s earned on TV. He only spends the income he earns as a comedian. Even if most of us don’t have more than one pay job, there’s definitely something to be learned from Leno’s example. My grandfather always said, “Earn a dime, save a nickel.”
Mick Jagger is a frugal as they come
You could fill a book with stories (In fact, people have done so.) about the wild party life of the Rolling Stones. In his personal life, however, Mick Jagger is known for keeping the purse strings tight. He also believes in repairing things rather than discarding them, then buying new. He says parents in the 1950s taught their children to not be wasteful.
Other celebrities who offer helpful financial tips
Jennifer Lawrence believes in living simply. That’s how she saves money. She doesn’t hire any personal assistants. In fact, she still lives in the same apartment she had before she made it big in Hollywood. She drives a Chevy and shops for bargains at the grocery store.
Sarah Jessica Parker is reportedly worth $90 million. Her helpful financial tips include dressing children in hand-me-downs. Parker says she has so many nephews who give her son clothes, she has never purchased anything new for him other than shoes.
What we can learn from these helpful financial tips
Your financial portfolio probably doesn’t look like Jay Leno’s, Mick Jagger’s or other celebrities. That doesn’t necessarily mean you can’t benefit from their examples. Shopping for food discounts and wearing second-hand clothing is sage advice. It’s also wise to repair items when possible and to save money from every paycheck.
What helpful financial tips can you add to those we’ve mentioned here? Perhaps you’re a 30-something mom of several kids or a 60-something grammy who’s been there, done that. Tell us your most valuable financial lessons. Which celebrity tip helped you most, and why?