Six Celebrities Who Are Good Financial Role Models

Just because you have a lot of money, doesn’t mean your money troubles go away. In fact, famous people, like celebrities and sports stars are proof that having more money can sometimes mean more financial problems.

However, there are a few celebrities we can look up to as financial role models. Here are six famous people who know how to handle their money!

Will Smith is famous for money quotes like: “Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like.” But he didn’t always have such a level head on his shoulders. In 1990, he was nearly bankrupt after he under paid his income taxes and was saddled with a large tax bill.

This experience made him realize that while making money is easy, it takes a lot of discipline to keep it. Since then, he has been consistently named in Fortune Magazine’s “Richest 40” list of the forty wealthiest Americans under the age of 40. And now he sets an example for his children on how to properly manage money.

Mark Cuban has recently become well-known for his role on ABC’s Shark Tank, where he displays his business and entrepreneurial smarts. He’s a self-made billionaire who doesn’t part with his money easily, yet he still embraces creative ideas and thinking.

He diversifies his wealth to avoid too much investment risk by investing in all types of real estate, software companies and of course, the Dallas Mavericks. In 2011, Cuban wrote an e-book, How to Win at the Sport of Business, where he chronicles his life experiences in both business and sports.

Sarah Michelle Gellar is an active volunteer for charitable organizations and is constantly donating her time and money towards causes like Habitat for Humanity. She credits her mother with instilling good money-giving habits, “I started because my mother taught me a long time ago that even when you have nothing, there’s ways to give back. And what you get in return for that is tenfold.”

She doesn’t take her fame or fortune for granted, and is known to use coupons for things like dry cleaning, and likes to shop at department stores on double reward days!

Tyra Banks has repeatedly been ranked among the world’s most influential people by Time magazine and not just for her good looks. In 2011 she enrolled in Harvard Business School where, upon graduating three years later, she spoke to a crowd of more than 100 students and faculty about her business and the reasons behind attending the program.

At the age of 18, she also started a scholarship program so other African-American girls could get properly educated about life and business. Since then, she has started multiple companies and is the CEO of several.

Keanu Reeves doesn’t care about money. In fact, he prefers to give it all away and live on his earnings from past movies and projects. He currently gives away money to production and film crews who work on his movies. Why? So they can pay off their debts!

Even with all the controversy and loss he’s faced in his life, he strives to make other people’s lives better and has been listed as one of the most generous celebrities alive today. He lives in a small apartment in New York City, and rides the subway everyday to save money.

Zooey Deschanel is proud of the fact that she carries a $0 balance on her credit cards, and her only debt is her mortgage. Her monthly expenses are only about 25% of her monthly income. She sticks to a strict budget and keeps most of her earnings in savings while contributing $1,500 a month towards donations.

She also has a large amount of money invested into real estate. She loves buying thrifted and vintage clothes and uses coupons for nearly everything she purchases.

What’s the lesson we can learn from these famous financial role models? Work hard now, spend and save wisely, and enjoy financial freedom later!

Curious what television characters need a budget? Read our article on six who are living way above their means.