5 Frugal Celebrities You Can Learn From

When you think of the celebrity lifestyle you think about the fame and fortune. You think about the glamorous lifestyle in which they live and not necessarily about how some celebrities are just like us, watching every penny they spend. Although they don’t necessarily need to be, there are quite a few frugal celebrities out there.

Five Frugal celebrities

According to Merriam-Webster Dictionary the definition of frugal is: careful about spending money or using things when you do not need to; using money or supplies in a very careful way; simple and plain. Thinking about celebrities doesn’t normally bring the word “frugal” to mind, however, these five frugal celebrities break free of the norm:

Jennifer Lawrence

“Hunger Games” star Jennifer Lawrence has accrued a net worth of approximately $110 million in her short time in stardom. The actress, who is known for being down-to-Earth and great with her fans, seems that she carries her “down-to-Earth” approach over into her finances.

What kind of lesson can we learn from Jennifer Lawrence? Well, when Lawrence began being paid more for her acting she didn’t change her lifestyle at all. You should do something similar when you get a raise or windfall. This can help you stack up money in savings quickly like she has.

Sarah Jessica Parker

Sarah Jessica Parker is someone you may be surprised to see on a list of frugal celebrities. The “Sex in the City” actress is worth about $90 million and known for her style. However, the mother and actress dresses her children in hand-me-down clothing. She’s been vocal about making sure that her three kids will not grow up feeling entitled to anything.

A takeaway from Parker’s financial approach is that hand-me-downs and secondhand items can save you a lot of money. Even if it isn’t clothing, you can save money on plenty of other secondhand items as well.

Tyra Banks

Former supermodel Tyra Banks is another surprising find amongst frugal celebrities. However, Banks is a huge believer in do-it-yourself upgrades to her space. With an overall net worth of $90 million, Tyra Banks saves money when updating her space. In addition to DIY projects, Banks is also known for snatching up shampoos and conditioners when she stays at hotels.

Although Tyra Banks is worth a ton of money she doesn’t put money into temporary things or things that don’t need a lot of money poured into them. Banks’ approach can teach all of us that DIY and cutting costs where you can can benefit you greatly financially.

Zooey Deschanel

Zooey Deschanel has a net worth of $16 million. However, with her limited acting experience, she has been able to stack up a significant amount of cash by being like other frugal celebrities. Deschanel has a tight monthly budget: $2,000 for clothes, $800 for utilities, another $300 for cell phone and Internet services, and $1,500 per month to charity. The actress also has three credit cards, all with zero balances.

Deschanel can teach all of us an important lesson regarding credit card debt. Although she easily could live outside her means by using her three credit cards, Deschanel limits her credit card use to emergencies only, which is a great practice.

Leonardo DiCaprio

Oscar Award-winning actor Leonardo DiCaprio is another surprising frugal celebrity. Among other frugal celebrities on the list Leo has the highest net worth, sitting at $217 million. The award-winning actor doesn’t splurge on things that don’t matter. He owns only one vehicle: a Toyota Prius. DiCaprio also commonly flies on commercial airplanes instead of taking a private jet.

Because DiCaprio does not use his money on things that don’t matter he has money to spend on things he would like to support or save for. For instance, he spends less money on gas and traveling so that he can donate to his favorite charities and invest his money.

Frugal celebrities aren’t something people think about very often. Celebrities tend to spend their money on flashy cars, homes and clothing. Each of these celebs, however, practice frugality in ways everyone could learn from.

Do you know of any other frugal celebrities you would add to the list?

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