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5 Wealthy Women Celebrities That Are Terribly Frugal

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One of the biggest tragedies of earning bucket loads of money is, well, losing it all. The golden rule that many personal finance coaches preach is being frugal in order to avoid this tragedy. Frugal, not cheap. Yes, there is a difference. According to Ramit Sethi, author of New York Bestseller I Will Teach You To Be Rich, ” Cheap people care about the cost of something. Frugal people care about the value of something. Cheap people try to get the lowest price on everything. Frugal people try to get the lowest price on most things, but spend a lot on items they really care about.” We’re glad that there are some very wealthy celebrities that live up to this golden rule. In light of it being Wednesday, check out these 5 wealthy women celebrities that are frugal and unashamed.

Sarah Jessica Parker: Her son wears hand me downs

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Sarah is the perfect example of frugal but not cheap. In her words, “My son only wears hand-me-downs because I’ve got all these older nephews”. She further adds, “I am not kidding. I don’t think I’ve ever bought him any clothes”. Sarah still finds value in buying shoes however since she also said,  “I do buy him shoes though, because everybody’s feet are different”.

Tyra Banks: Uses free soap and shampoo from hotels

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Tyra Banks is notorious for taking the complementary shampoo and soap from the upmarket hotels at which she stays. Why spend on soap and shampoo when expensive hotels give it out for free right?

Carrie Underwood: Serial Coupon Clipper

FILE - In this Sept. 28, 2015, file photo, Carrie Underwood poses for a portrait at Sony Music Nashville in Nashville, Tenn., to promote her latest album, "Storyteller." ABC announced Wednesday, Oct. 28, 2015, that the country star will perform a number of her hits during “Dick Clark’s New Year’s Rockin’ Eve with Ryan Seacrest” in New York City’s Times Square. The special, which airs live, starts at 8 p.m. EDT. (Photo by Donn Jones/Invision/AP, File)

Despite all her wealth and fortune, Carrie is still known to be a coupon clipper, opting to save from spending a fortune on groceries.

Dakota Fanning: Buys cheap clothes

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This former child celebrity is know to have shopping habits that would make any fashionista cringe. In the past she has turned up on several red carpets wearing dresses from low-end retailers, such as Target and Old Navy.

Jennifer Lawrence: Didn’t use her new earned money basically

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Jennifer Lawrence has been confirmed by Forbes to be the highest paid actress in 2016. Yet for the longest time she opted to live in the same Santa Monica apartment she grew up in before becoming famous. She says,  “I was raised to have value for money, to have respect for money, even though you have a lot of it.” With a $46 million payday, we can definitely say that she ranks high on the respectful scale. Pun intended.

 

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Staff Writer
Staff Writer

I’m one of The Money Fam writers. If it’s relevant to you building wealth, I write about it.

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