4 financial lessons you can learn from Justin Bieber

Published: Friday, March 8 2013 12:04 p.m. MST

In the past two years, Justin Bieber has made more than $108 million, making him one of the highest-paid entertainers in the world, according to an article on GoBankingRates. But he is wiser with his money than some celebrities. These are four ways to learn from Bieber financially.

Informed financial decisions

Bieber won't invest in something he doesn't like, according to a recent quote in Forbes Magazine. He researches the private tech start-ups that he invests in.

Take time to look into and build confidence in your investments. This decreases chances of making poor financial choices.

Grow money

Bieber's biography video "Never Say Never" earned him $30 million. This was a side project in addition to his money and tech companies investments. He also started a fragrance that made $60 million in the first six months. He stores those earnings in banking and investment options.

By saving money in various account types, it helps grow your money. You can also stretch out into areas different from what you normally do.

If you’re going to buy lavish things, make them economical

Bieber drives a hybrid sports car. Expensive, yes, but it gets 32 miles on all electric and 20 miles per gallon after the battery is done.

Don’t be afraid to be frugal

In his dating life with Selena Gomez, activities were cheap arcade, $2 ice cream cones or walks on the beach dates.

Before his expensive Fisker Karma car, he drove an all-black Smart Car, which is very inexpensive compared to his income.

EMAIL: alovell@deseretnews.com

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