Source: Erika Goldring / Getty
Keke Palmer is known for keeping a job and now she’s opening up about how she keeps her coins, too.
While fulfilling her guest speaker duties at the annual Building Wealth Today for Tomorrow Financial Empowerment Summit in Chicago, Palmer broke down her rules on leaving below her means after going bankrupt at 18, the Jasmine BRANDthe Jasmine BRAND reports.
“If I got $10,000 in the bank, then my house would be $500 a month. That’s how under I mean, because I can probably afford something $2,500 maybe, but I’m going way under. You know why? Because I wanna invest in my business,” she said. “So if I wanna invest in my business, then the material things that I’m having currently might have to take a short back. Instead of wearing Gucci, I’m wearing Zara. I live in a good place. I drive a cool car, ’cause my money is going elsewhere… I got a Toyota right now in my driveway.”
The “Big Boss” has opened up about her humble beginnings that have led to her frugality before. During an episode of her podcast, Baby, This Is Keke Palmer, she revealed that director Tyler Perry helped her family through a tough financial time.
“That was the first time that I have ever been in a movie, and it introduced this for me in business,” Palmer said. “And I thank you so much for this, where whatever the movie did you gave me extra money in the backend and that’s big.”
She continued,
“I was no big name or anything like that. It was not necessarily something that was my birthright, but for that to happen in that movie and for it to have been such a success — that extra money, what it did for my family and how it allowed me to maintain my time in California, moving from Chicago, (IL). I mean we had nothing, and for you to do that it was just really amazing so I just wanted to mention that ‘cause I never forgot that.”
These days, Palmer seems to be rolling in opportunities to bring in more dollars. Her latest venture is as the acting Chief Brand Officer of legacy haircare brand, Creme of Nature.