You never know where the best tips to save money will come from.
(Well, we do know one thing: don’t listen to most athletes.)
But there are some celebrities who actually do know how to manage their money and save for the future. Case in point: Jay Leno.
How to Turn a Side Job Into Real Savings
The former host of The Tonight Show has been doing stand up comedy on the side for years, despite his fame and millions in earnings from late night TV. But it’s not just a way to test out new material and keep him fresh — it’s also a way to save money for the future.
In the latest issue of American Way magazine, Leno explains:
I have always been a believer in the two-job theory. I live on one job and bank the other.
When I was a kid in school, I worked at McDonald’s and at a place called Wilmington Ford, and I would spend the money from one job and save the money from the other one. And that’s what I’ve always done as an adult. I basically live on the money I earn from personal appearances.
It’s no secret that having a second job can be a great source of money. But if you have a secondary source of income — from a part-time job, freelance work, a blog, or even eBay sales — what are you doing with that money?
You may not be making as much as Jay Leno (he obviously makes enough to afford all of those cars), but the idea is the same: pocket any extra money you make for the future as often as you can.
(Photo by Alan Light)
About the author: Jason is the author of Automatic Finances: 17 Days to Your Financial Freedom, a guide to automated money management. He started investing thanks to a free lunch, and after finding out how he was getting the short end of the stick, he sought out how to do it right. More »