Celebrities savvy with savings

Celebrities share savings secrets

Rachael Ray
TV chef

Bankrate: Do you treat yourself to many extravagances?

Rachael Ray: I certainly have more shoes than I did 15 years ago, but no, not so much. I like to spend a lot on the charity and developing that. We do things that we'd never been able to do, like we take our whole family with us every year on our anniversary to Italy. Everybody goes -- the brothers, the sisters, a handful of our friends. We do something crazy and huge like that that would certainly never have been in our budget.

But in our everyday life, I wear literally the same pants I've had for 10, 12 years. I still shop at T.J. Maxx and Marshalls and Target, and I do my own grocery shopping. I wander around in Adidas sweats and wear bluejeans most of the time.

So my everyday life is very much the same. But we can afford to share a lot with our family in ways we couldn't afford to do before, and we can do great fun things that are emotionally profitable for us, like starting the Yum-O! organization. So those are the real perks for me, the real benefits -- that you can treat your family nicely and provide for them, and do something like start up this organization of ours.


Lesson learned: Live beneath your means and share your wealth.

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