Keke Palmer made her first million at 12 — But she still pays just $1,500 rent

Despite her early fame and millionaire status before the age of 13, award-winning actress Keke Palmer says she still lives well below her means — and that’s exactly how she wants it.

In a recent CNBC interview, Palmer revealed that even if she had a million dollars in the bank, she’d still only spend $1,500 on rent and drive a Lexus instead of a Bentley. “I live under my means. I think it’s incredibly important.” 

Palmer became a millionaire at just 12 years old after her breakout roles in Hollywood. But while many child stars get swept up in the glam, Palmer credits her parents for teaching her the value of financial discipline early.

“My car note is going to be $340. I don’t need a Bentayga,” she said. “I’ll ride in a Lexus.”

Speaking on Club Shay Shay with Shannon Sharpe, she reflected on her humble beginnings, noting that her parents were earning around $40,000 annually when she first broke into the industry. That financial contrast helped shape her money mindset.

Palmer now urges young people—especially young women—to “learn up” on economics, saying it could be the difference between barely surviving or building lasting wealth.

She’s not alone in this frugal lifestyle. Billionaires like Warren Buffett, Mitzi Perdue, and Mark Cuban have long preached the power of living below your means, regardless of your net worth.