Being a celebrity has its many perks, but even the rich and famous can be frugal.
“It’s Showtime” host and actress Anne Curtis, for instance, said she uses the simple formula of saving 15 percent of her earnings.
“It’s always important that when you are trying to save, when you receive your paycheck or your baon, just set aside maybe 15 percent and then keep on saving. The next thing you know, you’ve got enough to purchase whatever it is that you want to buy,” the 29-year-old Curtis told ANC's "On The Money."
“This inspires you because you’ll realize how much you’ve saved and you get inspired to keep on saving even more,” she added.
Kim Atienza, on the other hand, doesn’t take for granted the many gifts he receives as a host and endorser, saying he passes along some of the products he receives but doesn’t need.
“Because I’m on television, I am given so much, so much that I am not able to use most of what I’m given. So I give these gifts to my staff, my relatives, my friends, because they are of value also,” he said.
Passing gifts along or “recycling” of gifts is an act often frowned upon, but according to financial adviser Salve Duplito, the thought that goes into giving a gift is what matters.
“Whether recycled or not, it’s the thought that goes into it that defines its value. If it’s recycled but given thoughtfully with the deep understanding of what a person likes or needs, then it’s a gift well-given,” she said.
Atienza also shared that recycling gifts give value for both the recipient and himself.
“I don’t like anything stuck in my house for more than a few weeks and I give them away as gifts,” he said.
Atienza admits that he is not finance-savvy, and he lets his wife do the budgeting in the Atienza household.
“My wife is a finance person. Me, I’m an artist, so I’m very right side of the brain. My plan is simple—just give everything to my wife and let her budget,” he said.
The show’s other hosts, Karylle, Coleen Garcia and Billy Crawford also shared their saving habits, saying that opening bank accounts for their savings keep them from splurging on unnecessary purchases.
“One of the things that I find really effective for me is when I open a bank, I open another one na ibang currency na alam kong hindi ko gagalawin. I also try to earn money in that currency and make sure kahit papano mayroon akong savings na hindi ginagalaw,” said Karylle.
Karylle, who recently got married, said one of her life goals in 2015 is to be more financially-savvy.
Garcia and Crawford, meanwhile, open different bank accounts and spread their savings on these accounts that are used for different purposes.
“So that you don’t splurge and just go crazy on spending,” Crawford said.
Duplito said these celebrities are able to save wisely because they have created a system that works for them, and being honest about their spending habits.
“Honesty, when it comes to lack of money-smarts, from people who are obviously successful and powerful in other fields, leads to better money management. Denial can be disastrous,” she said.
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