Three Things To Learn From A Celebrity's Finances

Mega movie stars, pop singers, athletes, and favorite television actors seem to have it all. Most of them are considered more physically attractive than non-famous people, and for certain a celebrity has more money than the average person. But these “perks” do not always make for a perfect life, and a star can fall on hard times just as easily as anyone else. When they do, they might seem more relatable, and perhaps that is why it can be good to take a look at what to do and what not to do with your money, from a celebrity’s standpoint.

Some important things to learn from a celebrity’s finances can best be found by looking at stories of stars who have had it all, and who have also lost it all. Three of these things to learn include:

•         Save, save, save! No one is assured of continued employment, whether that is at a retail store, a restaurant, in an office, or being in the movies. When you have extra money, save what you can! The only way to avoid a financial crisis is to plan for the times where funds might be out of reach or hard to come by.

•         Avoid overspending and splurging. When superstars hit it big they tend to make extravagant purchases. But when the money stops rolling in and it is time to pay the bills for private islands and lavish vacations, even a celebrity can find themselves without the financial means to pay all of the bills. Your splurge might be gourmet coffee every morning, or eating lunch out with co-workers a few times a week. If so, consider brewing at home and brown bagging it once in a while.

•         Come up with and stick to a budget. When you know where your money goes each month you are more likely to watch how it is spent. A budget is the perfect tool for keeping track of expenses and identifying areas where you can cut back on what you spend.

If you still need help with your money, that’s OK. We can give you options for getting back on track and help implement those options. Our goal is to help you resolve your money troubles, and avoid a repeat occurrence of financial hardship in the future.

For more information about how to handle overwhelming debt, contact us today at www.law-ri.com. We will help you come up with solutions that work for your family, and have multiple locations where we schedule appointments so you can make a choice that is convenient for you.