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Celebrities savvy with savings

Howie Mandel
Notable: Actor and game-show host ("Deal or No Deal")

Fame & Fortune Q&A:
Bankrate: What do you think of contestants who risk everything and end up with nothing?

Howie Mandel: I understand it. I wouldn't do it, but I do understand it. People who go too far and go all the way, what they'll think is, 'I got a 1-in-26 shot at hitting a million dollars.' Even if you have three cases to open and someone's offered you $100,000, the million dollars is still up there…And you know what? That "go for it" attitude is what made this country great. No pain, no gain. No risk, no reward.

Lesson learned: Risk and reward go hand in hand.   

Image: http://www.bankrate.com/images/famefortune/Carrie-Ann-Inab_135x97.jpg

Hed: Requisite course: Financial management

Who: Carrie Ann Inaba

Notable: TV star ("Dancing with the Stars")

Fame & Fortune Q&A:

Bankrate: What money advice do you have for other creative people?

Carrie Ann Inaba: I work so hard for something and, especially as a woman, I've worked extra hard to support myself throughout my whole adult life. In this business, I'm an independent contractor whether I'm on a No.1 show today or not, so I'm always going to have to make sure I have a roof over my head and food on my plate. I work hard for it and I save it. I wish with any creative expression classes, such as art or dance, that they would give classes on managing finances. I see so many talented people unable to stay in Los Angeles and pursue their dreams because they don't have the funds to do that.

Lesson learned: Learning about finances can boost your odds of creative success.

Image: http://www.bankrate.com/images/famefortune/Peter_Frampton_135x97.jpg

Hed: Know your true worth

Who: Peter Frampton

Notable: Musician ("Frampton Comes Alive," "Fingerprints")

Fame & Fortune Q&A:

Bankrate: At the height of your success, you lost out on some of your earnings. What happened?

Peter Frampton: I was doing very well personally. I was making a lot of money but not realizing that that wasn't all that should have been going to me. By the time you realize all that, a lot of money has gone elsewhere. It's like when you go back to some of the original R&B and blues guys and if they complained about their recording contracts, the record company would send them a car and they would go, 'Oh wow, they like me!' They didn't realize that they could have bought a hundred of those with the amount of money that was owed them.

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Lesson learned: Realize your worth and make sure you're adequately compensated for it.  

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