They may be rich and famous, but they're still frugal

Celebrities Who Are Known for Being Frugal

by Danny Ambrose

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Though celebrities often have access to wealth and resources, many celebrities are known for being frugal spenders. Frugal celebrities practice money-saving tips that we all can replicate. From saving money on life insurance to packing restaurant leftovers in a "doggie bag" to bring home for later, frugal celebrities can teach us all about saving money.

The one common denominator that most frugal celebrities share is that there seems to have been a time in their lives, usually when they were children, when their family struggled to survive.

Some frugal celebrities include:

1. Tyra Banks

Tyra is known for being frugal. She collects and saves soaps, shampoos and other freebies when she stays in hotels. Tyra describes herself as being a "penny-pincher" from the time she was a child.

2. Sarah Jessica Parker

Sarah Jessica Parker notes that after being on welfare as a child for a time, she is a frugal spender. Ms. Parker has experienced buyer's remorse so severe when purchasing clothing that she has been known to return the clothes the next day.

3. Mick Jagger

Mick Jagger, though generous with presents and gifts to friends and family, prefers to repair old computers and cars instead of junk them. In spite of his wealth, Mick once backed out of purchasing a painting of Rolling Stones member Ron Wood because the price tag scared him off.

4. Paul McCartney

Sir Paul sent his children to public school in spite of his worth of over a billion dollars. In addition, friends noted that he required partygoers to pay for their own cocktails when he hosted a birthday party for his former wife.

5. Halle Berry

Halle Berry says that she would rather shop from sales racks than fly to Paris for a fitting. Halle is a saver. She says that she saves because she never knows "when this trip will end." She wants to have enough savings to make sure she is able to live a comfortable and secure life if and when her fame wanes. Surely, Ms. Berry carries plenty of life insurance, as well.

6. Sarah Michelle Gellar

Ms. Gellar reports that she is careful with money. She takes her reusable grocery bag when she shops at Whole Foods to receive the discount, and she shops at Bloomingdale's on Double Reward days to get the most for her money. She also always prints out dry cleaning coupons prior to taking her clothes to the cleaners.

7. Teri Hatcher

Teri Hatcher reports that she drives her vehicles for 10 years, until they have over 100,000 miles on them. She reported to People magazine in 2005 that her only indulgence is travel.

8. Leonardo DiCaprio

Leonardo, though he has accumulated a great deal of wealth from his work, owns only one car, which is a Toyota Prius. This environment-loving star says that he wants to save his money so that one day he may put it to good use to help others.

Though many celebrities are known for lavish lifestyles and over-the-top spending, some celebrities buck this trend and practice money-saving habits on a daily basis.

Danny Ambrose writes on life insurance and other topics.

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