Keke Palmer may have reached Hollywood success, but that doesn’t mean her living standards have changed as much as her bank account.
The actress came from humble beginnings, with this upbringing shaping her outlook on money. Although she has plenty more than when she started acting, the 31-year-old mother understands that the millionaire lifestyle does not always equal a secure one.
“I live under my means. I think it’s incredibly important,” explained the podcast host, per CNBC. “If I have $1 million in my pocket, my rent is going to be $1,500 — that’s how underneath my means I’m talking. My car note is going to be $340. I don’t need a [Bentley] Bentayga, I’ll ride in a Lexus.”
While her net worth is not publicly listed, the actress has landed roles in hit films since age 9. She recently starred in the buddy comedy “One Of Them Days” alongside SZA, with multiple projects from film to podcasting underway.
Palmer was previously open about her financial awareness and how her parents impacted this frugality. In November, she appeared on Shannon Sharpe’s Club Shay Shay podcast to discuss her rise to fame and how she saves her coins.
“I learned from my parents very early on because they knew their limitations with money and finances,” says Palmer. “I believe in saving and frugality … I don’t play around with that.”
While not one to blow cash easily, Palmer still puts family first as they once did for her dreams. Thankfully, the author has enough to go around to support her loved ones.
“My dad gave up his pension for me to have an opportunity for my dreams. My mom gave up everything so she could travel with me,” Palmer said. “What’s mine is theirs and what’s theirs is mine … I would sacrifice 20 more years of my life working in this industry so that I can provide and we can have the business we have today.”
To some, Palmer’s humble lifestyle may seem like an outlier in Hollywood. While many celebrities buy mega-mansions or luxury vehicles, her choice to live like the masses comes from her insistence on learning about money management. She encourages others to do the same to make the best financial decisions for their future.
“Be curious about that kind of stuff, because you don’t want to do things based off of survival,” added Palmer. “You want to do them out of choice. That’s something that my mom and my dad taught me very early on.”
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