A Nice Car Isn't Everything
Let’s say you’re driving down the highway then suddenly, a pristine BMW whizzes by you. You sigh and think to yourself how nice it must be to drive a car like that. I get it, it’s nice to have nice things. As an advisor I have no problem with clients that want or buy nice things. However, I have seen too many people take on too much debt or overextend themselves trying to live a lifestyle out of their means. This kind of lifestyle always catches up with them.
To make you feel better about here are a few athletes and celebrities that don’t drive fancy cars:
Daniel Radcliffe:
Yes, the real-life Harry Potter does not drive an expensive car. While his net worth may be more than $100 million, Daniel values cars that are environmentally conscious. Daniel drives a Fiat Punto which set him back a cool $17,000.
Zac Efron
For years, the Hollywood star that got his start in Disney’s High School Musical, drove around LA in a 1999 Oldsmobile Alero. Even though Zack is worth a reported $18 million dollars, he chose a one of the last vestiges of the Oldsmobile brand.
Alfred Morris
Alfed Morris was drafted in the 6th round, lead the NFL in rushing his rookie year and last year signed his second NFL contract with the Cowboys for over $3.5 million. Even though he’s getting NFL paychecks, we choose to keep the car he drove in college, a 1991 Mazda 626 sedan which he purchased off his pastor for $2. He keeps the car because he says it reminds him of where he came from and how much work he’s had to put in to get here.
Giovani Bernard
The second round pick of the Cincinnati Bengals in 2013 signed a contract with a guaranteed signing bonus of $2.2 million. He still drives his girlfriend’s Honda minivan stating that he’s seen the fates of many pro athletes that live too lavish a lifestyle.
As you can see here, these athletes and celebrities are just like us. They practice frugal living by driving around inexpensive cars. The lesson to be learned here is that just because you have the money, you don’t have to spend it. In fact, cars for the most part, do not represent a good investment. They can be expensive to maintain and they lose money once the car is driven off the lot.