Wealth is that one aspect of our life which plays a huge role in defining how well we live. All of us work hard every day to increase our income, to earn more money so that we can improve our standard of living. But if left unmanaged, no matter how much you earn, you can easily lose it all.
Hence, it is very important to manage your finances, and who better to learn financial management from than celebrities; people who have a lot of money and have learned a thing or two about making financial decisions on a daily basis. Here are some celebrities who have revealed the tactics they employ to ensure they are managing their finances in a wise manner and adopting the same would be of benefit to all of us, that’s for sure.
The Rich Jennifer Lawrence
Listening to Jennifer Lawrence’s interviews makes us feel like she is just like all of us, and perhaps in a lot of ways she is. But when it comes to money, there is a huge gap between what she earns and what most of us do.
For example, in 2016 alone, Forbes declared that Lawrence had earned a massive $46 million in pre-tax income, making her the highest paid among all actresses that year.
If it was any of us save a few exceptions, we would have bought luxury cars and spent recklessly, but not Lawrence. She is thankful that her parents were wise enough to have taught her how to deal with her finances, even when she was quite young. According to an interview which Lawrence gave to Fabulous Magazine, her parents taught her that she needed to respect and value money, no matter how much she had.
This makes her put a check and balance on the way she spends. For example, when it comes to minibars which are notorious for overcharging, Lawrence feels uncomfortable buying a Snickers bar being sold for $6 when she knows it costs much less in reality.
She’s not only a wise spender but also a wise earner. A staunch supporter of eliminating the pay gap which exists between genders in Hollywood, Lawrence believes that women need to command their worth when it comes to compensation. This way they’d be able to earn more.
Commanding Your Worth Like Nicki Minaj
Just like J. Law, Nicki Minaj has always believed in being commanding what she is worth when it comes to compensation. Minaj has, at least in the earlier part of her career, fought a lot of issues such as misogyny as well as racism, which have obviously made her stronger as an individual.
But one thing she has learned is that no matter who you are and where you’ve come from, if you are worth more than what you are being paid, then you must step up and ask to be paid accordingly.
Minaj is also a supporter of education. She once tweeted that she would be financially supporting 30 students with good grades, after verifying the same with their schools, of course. But such an initiative shows that she would rather invest in a good cause like education than spend excessively and solely on material things.
Lady Gaga Is All About Frugality
Lady Gaga’s net worth is estimated to be somewhere around $275 million, but that hasn’t stopped the singer and actress from preferring coupons when it comes to shopping.
According to her, no matter how rich she may become, she is still a New Yorker and will never give up the habit of bargaining the prices at retail outlets or using coupons when she goes grocery shopping. She believes that every dollar you have is valuable, and it needs to be spent only when necessary.
Gaga also has great advice on buying Christmas presents. According to her, vintage shops have some great jewelry that dates back to the 50s, which is both antiquely gorgeous and very affordable, making for great Christmas presents.