All of us have grown to appreciate and love Kathy Griffin for the amazing comedian she is and who has dedicated so much of her time to entertain us for so many years. And when it comes to handling money, you’d be surprised to know that Kathy, who has won both Emmy as well as Grammy awards in her career, is one of the most responsible celebrities we know.
Thanks to an interview which Griffin gave to Michael Ian Black as a guest in one of his podcasts, we have become aware of the amazing ways in which Griffin deals with her finances to ensure a secure future for herself, and we are going to share the same with you so that you too can adopt the same practices in your life.
No Mortgage
While many may argue that the only way Griffin has been able to afford her 13000 sq. ft. property without securing a mortgage is due to the fact that she had that kind of money already in the bank, but many people still opt for mortgages even if they are able to make an upfront payment for a house simply because of lower cash commitments.
This Bel Air property cost Griffin around $10.5 million and it may not have been hers right now had she secured it via a mortgage, considering the shock received by her finances due to the immense controversy she was the center of back in 2017.
The Valuable Lessons Taught By Her Mother
If you are able to afford something, that does not mean you should spend on it, at least according to Maggie Griffin, Kathy’s mother who is now 98 years of age and one of the sources behind her financial wisdom. But what inspired Maggie to save up money?
According to reports, it seems that Maggie came to know of a story describing an aged woman and how she lost all that she owned, eventually being forced to consume cat food. As she did not want herself to face the same outcome, Maggie decided to save up enough money in the bank in case things went south, and has imbued her daughter with the same habit as well.
Striking a Balance
With Kathy, living a frugal lifestyle does not mean that you have to cause yourself inconvenience. It simply means that you have to spend where necessary and save where possible. For example, Kathy sometimes has to use a private plane for her traveling needs, which is obviously a very expensive option. However, it is also an unavoidable expense, and so she does not feel too bad bearing it.
But, when it comes to the food she has on these private flights which, as you may know, does cost a lot of money, Kathy sometimes brings her own from home, thereby saving herself a few thousand dollars. She maintains this basic principle in all that she does in her life, thereby saving money without causing herself any additional stress.