Celebrities with the right attitude about money

It is often easy to focus on the stories of celebrities in trouble for their indulgences or their overspending. However, there are other celebrities who demonstrate an attitude of financial responsibility. Take the following stories about Justin Timberlake and Eminem, for example.

Justin Timberlake
In August 2011 Justin Timberlake told The Observer Magazine, "I will say that I'm pretty frugal. I'll probably shop for clothes for myself once a year, and that will last me for the rest of the year." He went on to make the point that money doesn't buy happiness, but it is nice to be in a comfortable financial position. Certainly, that doesn't happen by accident. We've seen plenty of ultra-rich celebrities go broke because of financial mismanagement.

A friend of Eminem shared a story with the Independent newspaper in London about the superstar rapper. Eminem wanted to buy a $15,000 watch but called his manager, Paul Rosenberg, to check he had enough cash. Eminem is a millionaire so his manager told him it would be perfectly fine to buy the watch.

The friend said, "But Em was like, 'I don't want to run out of money, I want my daughter to be able to go to college.' That's really tells the kind of guy he is. I think fame surprised him. I don't think he really had realized who he was what kind of money he had, and what he'd achieved, until suddenly he woke up one day as the biggest star in the world. Whoever you are, that's going to make you a bit nuts."

Ask the right questions.
Regardless if you are making millions or not you can stay out debt, save for the important things in your life, invest in education, and maintain a nice home environment if you manage your income with an attitude of responsibility. That includes getting better values. Any time you are going to make a purchase ask yourself:
"What are cheaper alternatives?"
"How can I get a better value?"
"Do I really need this?"
"Will this purchase save me money in the long run?"
"Is borrowing or bartering an option instead of buying?"

What other questions would you ask if your goal was to maximize the value you received for your money?

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