It’s easy to look at celebrities and think that they earn millions so they’re bound to be good with money, right? Wrong.
Lindsey Lohan almost went bankrupt due to unpaid taxes, Game of Thrones star Lena Headey admitted she was down to her last $5 after a bitter divorce and Kerry Katona has been made bankrupt twice due to money mismanagement.
One female, who is fabulous at financial management is Beyoncé, with an estimated worth of over $500 million. Here’s why:
Pays Riches don’t come easy. OK, there is a 1 in 14 million chance you could win the lottery but the reality is most people have to work to make their money, and this is where Beyoncé wins.
Destiny’s Child, Beyoncé’s first group, formed in 1990 went through various line ups as members joined and left again, until the girl band finally signed a record contract in 1997.
That was seven years of gigging her way around the club scene in Houston, Texas, USA. It wasn’t until 1999 that the group had their first number one hit, the finance inspired, ‘Bills, Bills, Bills’ all about a man sponging off his girlfriend.
Beyoncé tip: Don’t ever share your credit cards with a loved one.
Learn How to Save Money and Make Wise Investments
Saving for the raining day has always been a good money habit Beyoncé had cultivated. Aside from her earnings in the music industry, Beyoncé invests money in her House of Dereon Clothing line and tops up her income with endorsement deals from the likes of L’Oreal, H&M and Tommy Hilfiger.
Her Pepsi deal alone was said to net her $50million. In the words of Beyoncé, ‘I have a lot of property. I’ve invested my money and I don’t have to make any more, because I’m set’.
Beyoncé tip: Work hard and reap the rewards, learn how to save money and better invest your earnings wisely. If you’re unsure how, read our personal finance blog.
Girls Can Run The World
We all knew that anyway, but as Beyoncé sings in her lyrics for Run the World (Girl), ‘I’m repping for the girls who taking over the world…how we’re smart enough to make these millions, strong enough to bear the children, then get back to business.’
She really has lived by those words. Becoming a mother has made Beyoncé even richer. 2014 was her most successful year so far, her Mrs Carter Show World Tour made a whopping $2million dollar a night.
Beyoncé tip: You are a girl, you are strong, even with extra responsibility, you can earn it girlfriend…
See Potential Everywhere
Beyoncé is not shy when it comes to seeing potential in everything to make money, even her own child. One of the first things Mrs Carter did after having her baby girl was to trademark her daughter’s name Blue Ivy. Unluckily for her, a wedding planner already had that name so they lost the case.
However, a year later Beyoncé and Jay Z managed to trademark her full name Blue Ivy Carter so look out for a children’s clothing range or a toy line with that moniker on it coming soon to a store near you.
Let’s not forget that Queen B also dispersed of her own father from being her manager in 2011, she claims it was because she was turning 30 and needed to be more independent.
Beyoncé tip: Be scrupulous when it comes to making money, you are in charge of your own financial destiny.
What money lesson have you learnt lately or from a celebrity? You can leave a comment below. We’d love to hear from you!