Money saving celebrities: 5 frugal celebrities who are smart with their money
As a rule, it seems that celebrity is a byword for extravagance and opulence – something which we associate with an otherworldly red carpet lifestyle, where flights around the world on chartered private planes and six-figure shopping trips come as standard, along with obligatory multi-million pound mansions and fleets of exclusive cars. One thing we don’t link celebrity to, on the other hand, is thrift – the two words are like chalk and cheese.
However you might be surprised to know that for every Victoria Beckham and Floyd ‘Money’ Mayweather out there who is notorious for their love of the good life, there are also a number of frugal celebrities who are more sensible with their money.
Here’s just a few of the A-List celebs who, in spite of their burgeoning bank balances and ability to command multi-million pound fees for blockbuster Hollywood movies or multi-platinum albums, like to keep a close eye on their outgoings.
As the Foo Fighters frontman, percussionist and backing singer for Them Crooked Vultures, and ex-Nirvana drummer, Dave Grohl has true rock god credentials. Bizarrely, for a man with such an impressive musical CV, he also happens to be one of the nicest blokes to ever grace rock and roll.
The 46-year old has never been big on all the drugs and drinking that usually comes with rock god status, however – instead, he has happily chosen jeans and t-shirts, and the relaxed life of a suburban dad. It’s little wonder that he has managed to hang on to his many, many millions.
In 2003, Grohl said: “You can’t take your lifestyle for granted.
“I’ve got tons of money but I’m afraid to spend it. Knowing I don’t even have a high school diploma to fall back on, I’m going to be really careful with what I’ve got.”
Of all the celebrities you’d expect to see on this list, you’d be safe in thinking that Leo, a man with over $200million to his name, wouldn’t be one of them. But shockingly the millionaire playboy and all-time great A-List actor, who most recently starred in the Great Gatsby, doesn’t do a fleet of supercars and a string of mansions as you might expect. Instead, he has just one vehicle – a Toyota Prius.
DiCaprio is a philanthropist and humanitarian, and he spends his money accordingly. He has said: “I don’t pay lavish expenses and I don’t fly private jets.
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.”
He does own a $2.5million island near Belize, admittedly, but you know what – fair enough.
Another name you wouldn’t expect to see on this list, perhaps, Paul McCartney of the Beatles is yet another extremely wealthy celebrity who is known for watching his pennies.
With a fortune in excess of £500million and his status as one of the most famous musicians of all-time, many are surprised by his famous frugality. Examples of this would be how he made attendees at a birthday party for his ex-wife, Heather Mills, pay for their own drinks. Also, it is reported that Stella McCartney, his fashion designer daughter, called him “a tight bastard,” for sending her and her siblings to local state schools, not private ones.
As an A-List Hollywood player, after having made his name (and at least $26million) after starring in the Spider-Man trilogy and Seabiscuit, Maguire has millions to his name. However his career as an actor began long before this and after a brief wild phase during the mid-90’s, during which he lived fast and partied hard, Tobey Maguire has since been both sober and frugal.
When asked about his frugality, Maguire put it down to growing up with little money. He said: “When I was a little kid, I don’t think it affected me. I did feel it as I got older, because you start to compare yourself to other kids. I look back and feel it must have been tough on my parents because of the times I would be embarrassed by rolling up in the $400 beat-up orange truck, or getting groceries with food stamps.
But there were also time when things were fine and there was enough money to get nice Christmas gifts, let alone have a roof over my head and eat.”
Even now that his worth and earning power has sky-rocketed, Maguire intends to continue spending modestly. He stated: “When I first started being successful at this, financially speaking, I was very conservative with my money. That was definitely a product of my upbringing. You know those Lotto winners who win big and then blow all the money? That would never happen to me.”
An American model, TV personality, talk show host, author and actress, Tyra Banks has repeatedly been ranked as one of the world’s most influential media personalities by TIME Magazine, and her bank balance of over $90million reflects this.
But in spite of her success and her vast fortune, Banks has remained grounded. While she can undoubtedly afford to buy anything that she wants, it might come as a surprise to some that she continues to demonstrate the same savvy and financial good sense as she did when growing up.
On the topic of her approach to managing money, she once told an interviewer: “I’m frugal, I’ve always been this way. When I was young, my mom would give me an allowance, and I’d peel off a little each week and have some to spare.
I’ll ask my accountant if I can afford something, and he’ll say, ‘What are you talking about?!”
The lesson: untold millions, supercars and gold taps are not necessary for comfort and happiness
It’s a breath of fresh air to hear that some of the biggest A-Listers out there remain careful with their money, in spite of the tens of millions of pounds that they’ve amassed in their bank accounts. Saving and boxing clever with spending is the reason that the big names from this list will enjoy a comfortable and rewarding life until the end of their days, unlike some of their free-spending, now-bankrupt peers.
It’s unlikely that most of us will ever come close to earning as much as these big-names in our own lifetimes, and yet by employing the same values and financial acumen as these sensible A-Listers we can ensure that we too will enjoy a comfortable, happy future.
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