Children of celebrities seem to have it made. Many of them lead luxurious lifestyles thanks to their famous parents. Yet, there are those celeb parents who don’t lavish their children with money or material possessions. Some of our favorite stars actually lead frugal lives and are mindful not to spoil their kids, despite their wealth.
Some of these celebs grew up less fortunate and learned the true value of a dime. They make it point to save their money and lead a simpler lifestyle. Others want to teach their children what hard work means so that they grow up with a strong work ethic. They’d rather have their kids earn their living than just depend on them when they’re adults.
From clipping coupons to giving their child hand-me-down clothes, these celebrities aren’t above money-saving techniques. Some of these kids have to do chores and earn money for the things that they want.
Many of these famous parents won’t leave their fortune to their offspring when they pass away but plan to give their wealth to charity. It’s refreshing to see these celebs have down-to-earth spending habits. Please enjoy this list of 20 celebs who raise their kids frugally (even though they don’t have to).
20 Mila Kunis And Ashton Kutcher Tell Their Kids They're A Poor Family
Mila Kunis and Ashton Kutcher are the parents of two children, Wyatt and Dimitri. These two are the epitome of a Hollywood couple and probably make some serious bank. According to Parents Magazine, they came up with quite the plan to keep their children from being spoiled and remaining grounded.
"It's a matter of teaching them from a very early age that, you know, 'Mommy and Daddy may have a dollar, but you're poor,'" Mila said on a radio interview on "The Kyle and Jackie O Show." "'You are very poor, you have nothing,'" she continued. "'Mommy and Daddy have a bank account.'"
19 Tyra Banks Doesn't Splurge On Her Son
Tyra Banks is mom to her son, York. She may be a supermodel with a net worth of $90 million but she actually leads a very frugal lifestyle. Despite her fortune, she doesn’t focus on material possessions and has no intention of spoiling her son.
According to The Insider, Banks spoke with Money magazine about her tight spending habits. "I was always more interested in experiences over things," she told the magazine. "Things didn't make me happy. I saved, saved, saved. But I saved to a fault.” Her financial advisors even had to encourage her to spend some of her money.
18 Sarah Michelle Gellar Makes Her Kids Appreciate What They Have
Sarah Michelle Gellar and Freddie Prince Junior have two kiddos, Charlotte and Rocky. Their kids could lead a privileged life but they work hard to ensure that their children appreciate all that they have. Sarah was a guest on TODAY and shared one strict rule that they enforce in their household.
"My daughter was doing this thing lately where she was asking me for a cup of milk and not drinking it,” Gellar said.”So I told her that every time she'd ask me for a cup of milk and not drink it, I would take a quarter out of her piggy bank. Someone has to pay for that milk."
17 Victoria and David Beckham Are Mindful With Money When It Comes To Their Kids
David and Victoria Beckham are the super rich parents of Brooklyn, Romeo, Harper, and Cruz. They may be multi-millionaires, but they have every intention of raising children who have strong work ethics.
According to Rebel Circus, Victoria said: “We’re very strict with them. We treat them now and then but they’re not the kind of kids who have everything they want when they want. I wouldn’t do that. It’s just not good for them. I want them to know you have to work hard for things and if they don’t say please or thank you, they don’t get anything.”
16 Bill Gates' Kids Must Forge Their Own Path In Life
Bill Gates and his wife Melinda have three children together, Jennifer, Rory, and Phoebe. Despite their billionaire status, most of their fortune will go to eradicating poverty through his personal charity. According to Business Insider, he discussed the topic on ITV's This Morning with Holly Willoughby.
"They are never going to be poorly off,” Gates said. “Our kids will receive a great education and some money so they are never going to be poorly off but they'll go out and have their own career. It's not a favor to kids to have them have huge sums of wealth. It distorts anything they might do, creating their own path."
15 Jennie Garth Saves On Clothes For Her Daughters
Jennie Garth is a single mom to her three daughters, Luca, Lola, and Fiona. Her family may live in Los Angeles but she prides herself on being frugal when it comes to back-to-school clothes for her girls. According to Business Insider, Garth opened up to Access Hollywood about how she finds ways to try and save money by finding ways to reinvent her kids' old attire.
We usually buy new things that can be mixed and matched with their existing wardrobe," said Garth. "Back-to-school is a great time to clean out their closets, and anything outgrown we donate or [sell]."
14 Kristen Bell Clips Coupons
Kristin Bell and Dax Shepard have two daughters, Lincoln and Delta. They are a super down-to-earth couple. So much so that Kristin admitted on Conan that she loves clipping coupons to save money. "I use a lot of coupons," Bell told the late-night host Conan O'Brien. "The best coupon you can get, possibly in the world, is the Bed Bath & Beyond coupon."
Bell then said with a sheepish smile, “I’m not saying I did do it, but I may or may not [take] them out of my neighbors’ boxes sometimes.” It sounds like her neighbors may want to be on the lookout for this famous coupon bandit.
13 Sarah Jessica Parker's Kids Wear Hand-Me-Down Clothes
Sarah Jessica Parker and Matthew Broderick have three kids, James, Marion, and Tabitha. These two have been on the Hollywood scene forever but are making it a point to teach their children the value of hard work. Parker spoke with Parade and confessed that her son doesn’t always wear new clothes.
"[My son] only wears hand-me-downs because I've got all these older nephews," Parker said. "I think it's incumbent on my husband and me to really stress and to show James Wilkie by example what it means to owe your community something and that he is not entitled to the benefits of our hard work."
12 Jerry Seinfeld Refuses To Raise Entitled Children
Jerry Seinfeld and his wife Jessica are raising three children, Sascha, Julian, and Shepherd. Despite being one of Hollywood’s most successful comedians, he is making an effort to not raise spoiled kiddos.
During an episode of his series, Comedians In Cars Getting Coffee, he had a conversation with Kevin Hart about the challenge of raising young children and how to keep grounded children even though they are growing up wealth. When Hart asked him how he handled it, Jerry gave a blunt answer. "You know what I say [when they ask if 'we're' rich]?" Seinfeld asked Hart. "I am. You're not."
11 Carrie Underwood Doesn't Over-Indulge Her Baby
Carrie Underwood is married to Mike Fisher have one son named Isaiah and another baby on the way. She may be one of the most successful female country artists and he may be a world-class hockey player but that doesn’t mean that they plan on overindulging their children when it comes to the holidays and presents.
She told People magazine, “I feel there’s a lot of Christmas that has kind of gotten lost,” Carrie said. “[Mike and I] have talked about not wanting to spoil our kids. We want it to be more about the family and the fun times.”
10 Nigella Lawson Wants Her Children To Earn Their Money
Celebrity chef Nigella Lawson is a single mom to Cosima and Bruno. She may have grown up in a wealthy family but that doesn’t mean that either of her kids was born with a silver spoon in their mouth. According to MSN, Lawson is determined to not raise her children to rely on her fortune.
“I am determined that my children [will] have no financial security. It ruins people not having to earn money.” she once said. Although she wants them to be able to support themselves, she also has stated that she won’t leave her kids high and dry.
9 George Lucas Is Giving Away His Fortune For Education
George Lucas has four children, Amanda, Jett, Everest, and Katie. Their dad may have made a fortune with the Star Wars franchise but that doesn’t mean that his money will go to them once he passes away. According to The Hollywood Reporter, he has plans to give his fortune to charity.
'I am dedicating the majority of my wealth to improving education. It is the key to the survival of the human race.” Lucas said in a 2010 Giving Pledge. “We have to plan for our collective future -- and the first step begins with social, emotional and intellectual tools we provide to our children.”
8 Gordon Ramsay Is No-Nonsense When It Comes To Money And His Children
Celebrity chef Gordon Ramsay and his wife, Tana have four children, Matilda, Holly, Jack, and Megan. He may have a wad of cash from his television show and restaurants but his kids don’t live in the lap of luxury. He admitted to The Telegraph that he forces his kids to sit in business class when they travel on a plane.
“They don’t sit with us in first class,” he said. “They haven’t worked anywhere near hard enough to afford that. At that age, at that size, you’re telling me they need to sit in first class? No, they do not. We’re really strict on that.
7 Teri Hatcher Is Conservative With Her Money
Terri Hatcher is a single mom to her daughter, Emerson. We all know her from the television series Desperate Housewives. Even though she is a successful actress, she is still very frugal with her money. She told People that she doesn’t spend her money on expensive cars.
“I’m a very conservative person,” she said. “I drive my cars for 10 years until they have 100,000 miles on them. To me, feeling comfortable means having way more than I need in the bank.” She also admitted that she likes to bake and sends homemade goods for her daughter’s bake sale at school
6 David Grohl Drives A Family Car
David Grohl and his wife have three kids, Violet, Harper, and Olivia. He made a fortune as a drummer for the ‘90’s grunge band Nirvana and then went on to become to lead singer of The Foo Fighters. He’s had 39 nominations for various awards and has taken home 15 Grammys.
You might think that he lives a lavish lifestyle but according to CNBC, Grohl is super frugal with his spending. “I drive a family car — not a monster SUV, but a family car that fits five people,” he told The Red Bulletin. “I’ve got a house that is just big enough, too.”
5 Sting Plans To Spend His Fortune
Sting’s kids shouldn’t expect to inherit his fortune. The former Police frontman has instilled a strong work ethic in his adult children. According to Time, Sting spoke with England’s Mail On Sunday and discussed the logic behind his decision.“I told them there won’t be much money left because we are spending it,” the paper reported him saying.
He also explained that he wouldn’t want an inheritance to be “albatrosses round their necks.” Sting added, “Obviously if they were in trouble I would help them. But I’ve never really had to do that. They have the work ethic that makes them want to succeed on their own merit.”
4 Keira Knightley Keeps Her Lifestyle Simple
Keira Knightley has a daughter Edie with her husband, James Righton. She may be a famous actress that but that doesn’t mean that her family leads an extravagant lifestyle. According to The Daily Mail, she has an estimated worth of $50 million but gives herself an annual allowance of $50,000.
She spoke with Glamour about her decision to live modestly, despite being wealthy. “I think living an [expensive] lifestyle means you can’t hang out with people who don’t live that lifestyle,” Knightley said. “It alienates you. Some of my best, most hilarious times have been in the least luxurious places.'
3 Toby Maguire Isn't Materialistic
Toby Maguire’s kids may have a wealthy father but that doesn’t mean that the Spiderman actor spends a ton of money on them. Despite the fact that he is said to have earned $36.5 Million for his role in the films, he has no plans to blow his money on material things. According to People, he explained his frugal ways to Parade Magazine.
“You know those Lotto winners who win big and then blow through all the money? That would never happen to me. … I just never wanted to put myself in the position where my spending was so huge that I had to keep making movie after movie,” he said.
2 Julia Roberts Raises Her Family Out Of The Limelight
Julia Roberts may be America’s sweetheart but she made the decision to take her kids out of the limelight. She is raising her three children, Henry, Hazel, and Phinneas, on a ranch in Mexico rather than Hollywood. Despite the fact that she has reported net worth of $140 million, she wants her children to be grounded.
She told Good Housekeeping that she has no intention of using money or possessions to show her children that she loves them "I think some people confuse unconditional love with spoiling,” Roberts said. “None of my kids would think I have a problem with that distinction.”
1 Tori Spelling Had To Change Her Spending Habits
Tori Spelling grew up living a lavish lifestyle thanks to her dad, Aaron Spelling. The Hollywood producer made a $500 million fortune but only left Tori $800,000. Now Tori is mom to her five kids, Liam, Stella, Hattie, Finn, and Beau. With so many children, she’s been forced to tone down her spending.
According to E!News, Tori addressed her money struggles in her book, Spelling It Like It Is. "It's no mystery why I have money problems. I grew up rich beyond anyone's wildest dreams,” she wrote. I never knew anything else. Even when I try to embrace a simpler lifestyle, I can't seem to let go of my expensive tastes.”
References: Parents.com, Thisisinsider.com, Eonline.com, Goodhousekeeping.com, People.com, Dailymail.co.uk