The lifestyles of the rich and famous can be pretty amazing. From luxurious European vacations to expensive purchases, celebrities can afford to spend hundreds of thousands without even thinking about it.
However, not every celebrity is comfortable spending all that money. In fact, several have side gigs to establish another income stream to diversify their finances; it’s a big part of their money-making philosophies.
Here are five celebrities with some serious side hustles.
1. Erykah Badu
Grammy-winning singer and songwriter Erykah Badu has a lucrative career producing and recording albums. She’s also an actress who has starred in acclaimed films like “The Cider House Rules.”
Despite her success in the music and entertainment industries, Badu has another calling: delivering babies as a certified doula.
A doula provides mental and physical help to an expectant mother before, during, and after labor. Since she started her side career as a doula, she has helped bring 40 babies into the world, reported online health resource BlackDoctor.
Badu discovered her passion after helping a friend through labor.
“I’ve always had a mothering nature,” she said in an interview with People. “But I didn’t plan on becoming a doula. I just wanted to care for my family and friends. When I saw the baby, I cried. I knew what I was supposed to do with my life.”
According to Parents.com, Badu is also working toward earning a midwifery certification. Once she has achieved that goal, she plans to open birth centers in inner-city neighborhoods.
Badu does not list her rates for her services publically. However, the typical doula charges between $500 and $3,500, depending on where they live.
2. Scarlett Johansson
As a talented actress, it would seem like Scarlett Johansson has had a privileged life. But that wasn’t always the case. Earlier this year, she appeared on “Inside the Actors Studio” and revealed that she struggled with poverty as a child.
“By the time my twin brother and I came around, I think my parents’ marriage … had a lot of strain,” she said on the Bravo TV show. “We were living on welfare; we were on food stamps. My parents were raising four kids in a low-income household in Manhattan.”
That’s why it was such a big deal for her when she opened a gourmet popcorn shop last year. She’s now balancing her store with her huge movie career.
“It has been a dream of mine and my family for several years to bring our favorite American snack to our favorite European City,” she said in a statement. “My hope is for Yummy Pop to become a Parisian snacking staple and a symbol of friendship between my two most beloved cities, Paris and New York.”
3. Dwayne ‘The Rock’ Johnson
Always keep these lil’ daily mantras close to me (hardest worker in the room, humble/hungry etc) as a reminder that there’s no substitute for consistent daily hard work. I started saying “rent’s due” to myself when we were evicted when I was 14, as a personally motivator to hit the gym and workout. But what’s funny about that is technically there was no actual “rent due” considering we didn’t have a place to live. 😂 I got lucky along the way, because these days I’m not getting evicted, but I’m still up at 4am dropping sweat, because the rent’s due. It’s ALWAYS due. #RentsDue #ProjectRock @underarmour *Link in bio.
Dwayne “The Rock” Johnson might be the ultimate side hustler, with several different jobs to bring in more money.
Behind his drive is a tough upbringing. His parents struggled to afford the basics, and they faced eviction and vehicle repossession.
“We were living in an efficiency that cost $120 a week,” he told the Hollywood Reporter. “We come home, and there’s a padlock on the door and an eviction notice. My mom starts bawling. She just started crying and breaking down. ‘Where are we going to live? What are we going to do?'”
His mother tried to do her best for her son, but they moved 13 times during his childhood.
“That was the tipping point,” he told the Hollywood Reporter. “It was about, ‘What can I control with these two hands?’”
He became a top professional wrestler and later, an actor. But along the way, he’s kept multiple income streams coming in. He now runs a small production company, appears on television shows as well as movies, and is writing his second memoir.
With many different sources of income, Johnson ensures he’ll always have money coming in — and will never have to worry about eviction notices again.
4. Jay Leno
Jay Leno is well-known for his career as the long-time host of “The Tonight Show” and his multimillion-dollar car collection.
However, Leno isn’t the type to spend every penny. Ever since he started working, he made sure to diversify his income streams to bring in extra money.
“I always had two incomes,” he told CNBC. “I’d bank one, and I’d spend one.”
When he was just starting out, he lived off his earnings as a comedian and saved the money he made working at a car dealership. Later, even with huge contracts and television deals, he still worked multiple jobs. He says that policy gives him peace of mind.
“So many people get to be the age I’m at now, and they’ve got nothing because they just blew it all,” he continued. “I put my money in a hammock and say, ‘You relax. I’m going to go work.’ And when I come back, I put some more money in the pile.
“It sounds ridiculous, but if everything ends tomorrow, I know I’ll be fine.”
5. Jeremy Renner
Jeremy Renner is a well-known actor recognized for his roles in movies like “The Hurt Locker” and “The Avengers.” But despite his acting career, Renner has another side hustle: flipping houses.
He got started when he was trying to launch his acting career. Like many new actors, Renner was broke. According to Business Insider, he and his friend pooled what money they did have and bought an older home together.
Originally, they didn’t intend to sell it. They just did small renovations to make it more livable, like adding a second bathroom — but then someone offered them double what they paid for the home. That experience helped them get interested in flipping homes, and the pair has sold more than 20 properties since they got started, reported Realtor.com.
Renner credits his side gig with keeping him grounded.
“You run into the Beverly Hilton to do ‘Extra,’ and then you have a meeting here, and then you go to a red carpet,” he said in an interview with The Wrap. “And between all these things, I’m going to pick out tile. I go back to this dirty job site in a suit so that I can tell the electrician where to put light switches. It’s just a little moment of reality.”
Everyone needs multiple income streams
Although you might not have the same earning potential as Scarlett Johansson or Dwayne Johnson, having multiple income streams is important for your financial security. Having other sources of money can help protect you in the case of an emergency, such as losing your job.
If you’re ready to launch a side gig, here are some of the best side hustles to get you started. And who knows: Maybe it will even be the start of your own empire.
Interested in refinancing student loans?Here are the top 6 lenders of 2019!
|Lender||Variable APR||Eligible Degrees|
|Check out the testimonials and our in-depth reviews!
1 Important Disclosures for SoFi.
2 Important Disclosures for Earnest.
To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
Earnest fixed rate loan rates range from 3.89% APR (with Auto Pay) to 7.89% APR (with Auto Pay). Variable rate loan rates range from 2.50% APR (with Auto Pay) to 7.27% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of April 17, 2019, and are subject to change based on market conditions and borrower eligibility.
Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
The information provided on this page is updated as of 04/17/2019. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, email us at firstname.lastname@example.org, or call 888-601-2801 for more information on our student loan refinance product.
© 2018 Earnest LLC. All rights reserved. Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by or agencies of the United States of America.
3 Important Disclosures for Laurel Road.
Laurel Road Disclosures
However, if the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the fixed rate will decrease by 0.25%, and will increase back up to the regular fixed interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.
However, if the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the variable rate will decrease by 0.25%, and will increase back up to the regular variable interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.
All credit products are subject to credit approval.
Laurel Road began originating student loans in 2013 and has since helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance more than $4 billion in federal and private school loans. Laurel Road also offers a suite of online graduate school loan products and personal loans that help simplify lending through customized technology and personalized service. In April 2019, Laurel Road was acquired by KeyBank, one of the nation’s largest bank-based financial services companies. Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. All loans are provided by KeyBank National Association, a nationally chartered bank. Member FDIC. For more information, visit www.laurelroad.com.
4 Important Disclosures for LendKey.
Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
5 Important Disclosures for CommonBond.
Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown.
All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 2.49% effective March 10, 2019.
6 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
|2.50% – 7.27%1||Undergrad & Graduate|
|2.50% – 7.12%3||Undergrad & Graduate|
|2.53% – 8.79%4||Undergrad & Graduate|
|2.50% – 6.65%2||Undergrad & Graduate|
|2.55% – 7.12%5||Undergrad & Graduate|
|3.00% – 9.74%6||Undergrad & Graduate|