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Kim Kardashian has some financial advice for millennials
Wealth Management, Lifestyle
Originally known for her “home video,” Kim Kardashian has now become an entrepreneur, complete with a new book, a mobile app, a clothing line, a new stepmom, and financial advice for millennials looking to build a future.
In an exclusive interview with MarketWatch’s Sally French, Kardashian-West recounts how she used to be on a tight budget, and how in order to buy things, she needed to sell some of them as well.
“So she took out a loan with her father, Robert Kardashian, to buy five pairs of Manolo Blahnik shoes that were $750 a pair.”
“I sold each pair on eBay for $2,500.”
Aside from showing that keeping spreads tight weren’t her thing early on, the reality TV star also points out the importance of time in making financial decisions, saying that time could just be as valuable as money in certain situations.
As far as advice for millennials, this is what she had to say:
“I was fortunate for my parents to teach me about credit and saving and things like that. It’s nothing they teach you in school, and I really think that is unfortunate. I think classes on credit, and saving, and balancing a checkbook, which is so simple, should be taught in school because a lot of people don’t know much about it.
“From an early age I was well-educated and just learned a lot about the simple things and never got into too much trouble. And you know, it’s just saving. I love to spend but I also love to work hard and save. I think it’s really important to build a future and just make sure that you don’t over indulge all the time.”
As for spending:
“You know, I thought the more money I made, that I would spend more. And that’s the opposite. The more money that I make, the more I want to save. I didn’t think it would be like that and I’ve actually surprised myself.”
So there you have it. Work hard, save hard, marry Kanye, and build a future.
Photo credit: Eva Rinaldi via Flickr