Selena Gomez is a well-known actress, singer, and producer who has been in the entertainment industry for over a decade. She has won numerous awards for her work and has amassed a huge fan following all over the world. But besides her successful career in the limelight, Selena Gomez is also known for her financial savvy and business acumen.
Here are ten things we can learn from Selena Gomez when it comes to personal finance:
1. Invest in yourself
Selena Gomez began acting at a young age and had to balance schoolwork with auditions and rehearsals. However, she never stopped investing in herself by taking acting classes and vocal training even after becoming famous. This dedication to self-improvement paid off as she continued to receive more challenging roles that led to bigger paychecks.
2. Create multiple streams of income
In addition to acting and singing, Selena Gomez has also ventured into producing films and TV shows through her production company July Moon Productions. By diversifying her sources of income, she ensures that if one stream dries up, there are others that will continue bringing in revenue.
3. Save money early on
Selena was advised by her mother early on about saving money from every paycheck no matter how small it seemed at first glance. Saving money early on helped Selena build up an emergency fund which came handy during tough times like health crisis or economic downturns.
4. Live within your means
Despite being rich, Selena lives within her means by budgeting each month’s expenses carefully so that she does not overspend or waste money unnecessarily.
5. Be smart about investments
Selena understands the importance of seeking professional advice when making investments especially those involving substantial sums of money since some investment opportunities may be risky or fraudulent.
6. Keep track of your finances regularly
It is important to keep track of finances regularly so you can know where your financial position stands at any given time. Selena has a team of financial advisors who help her keep track of all the money coming in and going out.
7. Give back to society
Selena Gomez is known for her philanthropic work, supporting various charities including UNICEF where she served as an ambassador. When you give back to society, it not only helps those in need but also provides a sense of fulfillment which can be invaluable.
8. Take calculated risks
Selena Gomez took a calculated risk when she started her own production company at just 26 years old. This move paid off as she was able to produce successful shows such as “13 Reasons Why” that made headlines and brought more revenue into her pocket.
9. Surround yourself with people you trust
It’s important to surround yourself with people you trust, especially when it comes to managing your finances since some decisions may impact your future financial status greatly.
10. Stay grounded
Despite being one of the biggest stars in Hollywood, Selena has remained grounded by staying true to herself and keeping close relationships with family and friends who remind her that there is more to life than fame and fortune.
In conclusion, Selena Gomez serves as an inspiration for anyone looking to achieve success while maintaining good personal finance habits along the way. Her dedication towards self-improvement coupled with smart financial choices have helped her build a solid foundation for long term success both financially but also personally!