Celebrities don’t usually enjoy a reputation for being prudent with their finances, but some famous dads are surprisingly sensible when it comes to teaching their kids lessons in frugality.
Just in time for Father’s Day this Sunday, GoBankingRates.com has released its list of celebrity dads who make great financial role models for their children. (The El Segundo, Calif.-based personal finance site points to a Charles Schwab & Co. parents and money survey that shows one in four parents believe that the best way for teens to learn about money management is by example.)
“People don’t often associate celebrity fathers with frugality, but there are a few out there who choose to make saving money a lifestyle, no matter how much they earn,” says financial writer Stacey Bumpus in her article for GoBankingRates.com, which connects readers with the best interest rates on financial services nationwide.
Read on to discover which seven famous dads make good financial role models—and why.
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1. Carmelo Anthony, All-Star Forward of the New York Knicks
Parents know that their actions can speak louder than their words, “which is why it’s important to model good money management as well as to teach it,” writes Stacey Bumpus for personal finance and interest rate site GoBankingRates.com.
For example, she says, New York Knicks All-Star and Olympic champion basketball player Carmelo Anthony still models smart spending habits for his son, Kiyan, despite earning $19.4 million in 2012 from his NBA salary alone, surpassing star player Lebron James’ earnings.
“I go to the supermarket, make sure I get the newspaper and tear the coupons out; save a dollar or two,” Anthony said in an interview with CBS Denver.
2. Dave Grohl, Foo Fighters Frontman
Although a member of two wildly popular grunge rock bands, Nirvana and Foo Fighters, Dave Grohl is not one to live the typical rock-star lifestyle of excessive partying and spending.
“You can’t take your lifestyle for granted,” Dave Grohl said in a 2003 interview with USA Weekend. “I’ve got tons of money, but I’m afraid to spend it. Knowing I don’t even have a high school diploma to fall back on, I’m going to be really careful with what I’ve got.”
(According to Celebrity Net Worth, Grohl’s net worth totals approximately $225 million—not bad for a grunge punk.)
3. Darius Rucker, Former Hootie and the Blowfish singer
Hootie and the Blowfish may have gone the way of the 1990s, but that band’s singer, Darius Rucker, leveraged his fame as Hootie’s lead vocalist to become a celebrated country music star. His success with the group and as a solo artist has helped propel his net worth to approximately $14 million.
“Despite his grand wealth, though, he’s not big on teaching his children to spend lavishly,” writes Bumpus for GoBankingRates. “After being raised by a single mother, he prefers to do his shopping at Target and only buy a new car every two years, preferring to trade the old one with each new purchase.”
4. Eric Clapton, Rock Guitarist