Quantcast
Money Talks: 5 Tips Our Favorite Celebs Gave Us About Securing A Bag
a katz / Shutterstock.com

Money Talks: 5 Tips Our Favorite Celebs Gave Us About Securing A Bag

You can't pick apples from a banana tree, and you can't expect to get great financial advice from broke people.

Celebrity News

You can't pick apples from a banana tree, and you can't expect to get great financial advice from broke people. If you're wondering why you've been stuck in the same place, it's probably because you've been taking advice from the wrong people. While our homegirls can be both our comforters and our confidants, one thing that they are not is our financial advisors.

I've said it before and I'll say it again, having the ability to take things with a grain of salt is a superpower that shouldn't be taken lightly. Understand that to truly level up your bank account, you might have to switch up your method and seek out mentorship through people that currently are where you're ultimately trying to be.

To jumpstart you on your quest, xoNecole has culminated a list of financial tips from some of our favorite rich people that will help guide you into the land of financial freedom.

Serena Williams: Count Your Coins Carefully

a katz / Shutterstock.com

According to Google, Serena Williams' net worth is estimated at about $180 million and she didn't become the fabulously wealthy mogul mom that she is without being intentional with her coins. Last year, Serena shared that the most valuable financial advice that she's ever gotten came from someone we all know as the original rich auntie. She told HuffPost:

"[Oprah] said to watch every dollar that you spend. In other words, if you have a company and people are using your money, to look at every single expense. And to this day, I do that."

Kandi Burruss: Invest In Yourself 

In an interview with ESSENCE, Kandi Burruss revealed that she built her multimillion-dollar fortune by following two simple rules: invest (both in yourself and your future) and pay off your loans as soon as possible. Kandi revealed that she learned her first lesson in finance from LL Cool J, who encouraged her to pay off any debt sooner than later, and ultimately, it paid off.

"He told me to put extra money toward the principle of my loan every time I got a check no matter how big or small because it would knock years off of my loan. He was so right. It shocked me at how much of the note mainly went to interest, and by paying off the loan early you save tons of money and the stress of having to make those payments for all those years."

The singer also revealed that she believes that saving money and investing in yourself are the most efficient ways to build wealth:

"I meet people all the time who say they want to do this or that but say they don't have the money. A lot of times they are living to the full extent of their income and they'll have nice bags and shoes but haven't even invested in quality business cards or [a] nice website for their brand. Who will want to gamble or invest in you if you're not taking the first step to invest in yourself?"

Here's a video of her talking about why it's important to save your coins for the future.

Issa Rae: Don’t Lowball Yourself

issa-rae-smileDFree / Shutterstock.com

When starting a business, it's really easy to get a bad case of the "enoughs". Maybe it's time for you to quit your job and pursue your hustle full-time, but you think you don't have enough. You're running the business but you know that your margins aren't cutting it, but you aren't confident enough in your brand to raise your prices. In the early stages of her career, Issa Rae could totally relate and says that she eventually had to evaluate her worth, and add tax, shipping, and a convenience fee.

"As a freelance videographer and editor, I constantly had to set my price points, which was hard in the beginning because I honestly didn't know my worth. As I grew more confident in my work, I began to set my prices higher. Sometimes I'd get resistance and sometimes I wouldn't get the job at all. I'd often have to convince them that I was worth the money."

Taraji P. Henson: Ball On A Budget

Many of the industry giants that are securing the bag right now came from humble beginnings, and the same is true for What Men Want actress Taraji P. Henson, who said that she was certainly humbled after uprooting her life and moving to California to pursue her dream:

"Living in Los Angeles, I think everyone is aware that we have to cut down on our water use. So I've done some water conservation that also cuts down on costs. I wash my dishes by hand — no dishwasher. And even though I kid that my alter ego is Miss Diva, I still like to bargain shop for shoes, clothing, furniture … everything."

Taraji explained that even after her come-up, she stayed true to her budget-friendly roots and continued her frugal lifestyle despite the newfound zeros in her bank account. According to her, cutting back on the coins she spent on daily essentials helped her save and secure a successful future for both her and her family.

"I still go to the 99 (Cent) Only Stores, Target … I'll tell people when I got a real bargain if they ask, but otherwise I won't. And I do a lot of photo shoots with beautiful clothes and accessories. If I really love something, I'll ask — or my publicist will — if I can keep it and take it home. Sometimes I can, sometimes I can't. Work and money is steady right now, and I just hope it stays that way. I've saved for my son's education, which is very important to me."

Tina Lawson: Start A Money Trail

Tina Knowles is responsible for giving birth to two of the most successful names in the R&B industry, and really, no one womb should have all that power. Mama Tina has built a fashion empire of her own and was gracious enough to drop some gems on how she became the matriarch of the ultimate family of Mother/Hustlers. The celebrity mom said that she hasn't always been balling, and had this advice for women on the grind, looking to stack some extra coins:

"Everyone can't afford a financial planner, but if you own a book, for $20, everybody can have the advantage of knowing that, basically, you can do it. It's not how much you make, it's how much you save.'"

Featured image by a katz / Shutterstock.com

Halle Bailey Talks 'The Little Mermaid' Backlash & Having A Forever Best Friend In Sister Chloe

Halle Bailey won our hearts alongside her sister Chloe when their cover of Beyoncé’s “Pretty Hurts” went viral when they were just teenagers, and from there they have become Grammy-nominated artists as the group Chloe x Halle thanks to albums like Ungodly Hour and The Kids Are Alright. Now, their fans have more to look forward to as Halle will be starring as the Disney princess Ariel in the live-action remake of The Little Mermaid.

Keep reading...Show less
The daily empowerment fix you need.
Make things inbox official.
The Power Couples In The Zodiac & Your Money Match Based On Astrology

When it comes to power couples in the zodiac, there are instant matches that make for love and financial compatibility. Some zodiac signs work better together than others, and considering financial challenges tends to make or break relationships--finding your money match is important. Not only that but there are certain signs in the zodiac that can enhance your financial world, just by being in it. Planetary energy in certain areas of your birth chart can provide higher success rates and opportunities, and compatibility energy varies by degree.

Keep reading...Show less
The Do's & Don'ts Of Having Sex On The Beach

I’ve never actually tasted a 'Sex on the Beach,' but I certainly have imagined doing it. In fact, I’ve had a lot of sex fantasies, but this remains to be one at the top of my list. However, I continue to harbor some fear because it seems that beach sex is no easy feat.

Keep reading...Show less
The Evolution Of Serena Williams

It is like witnessing magic when you watch an athlete do what they do best. To see a mere human soar in the air over to the other side of a bar or to witness someone run at a speed quicker than a human thought. A basketball player defying gravity just to get a ball into a hoop. A ballerina turning their body into a top, spinning and spinning without fatigue.

Keep reading...Show less
Lori Harvey On Dating With A Purpose & Not Compromising Her Peace For Anyone

Lori Harvey’s dating life has consistently been a hot topic on social media and now the model is shedding light on some of her dating do’s and don’ts. In an episode of Bumble’s new “Luv2SeeIt” content series, the SKN by LH founder sat down with the series' director, producer, and host Teyana Taylor and disclosed some quote-worthy thoughts on dating and relationships.

Keep reading...Show less
Exclusive Interviews
Former Beyoncé Dancer Deja Riley On Changing Her Career For Her Mental Health

Former Beyoncé Dancer Deja Riley On Changing Her Career For Her Mental Health

"I felt like I was not enough. And my mental health is important. So when I started feeling that way, I knew that it was time to shift."

Latest Posts