American-Senegalese Singer,Akon has warned music stars and celebrities against owning private jets, noting that they cost more to maintain.
He gave the counsel while appearing on the latest episode of the Impulsive podcast.
He said:”I attempted to own a jet, but it only lasted 6 months; I sold that thing so fast. Buy some hours and use it only when necessary, and most of the time use it as a way of negotiating; let that be a part of your strategy to the money, but whatever you do, never own a jet.
“Owning a jet means you spend two to three million dollars a year just for upkeep. You spend more on maintenance than the actual jet cost.
“This is the advice I give everybody: the money you have now has to last you a lifetime. When you think about it like that, the way you manage everything will be different.”
He also advised people to stay stingy and not lavish their money if they want to stay rich.
He said:“If you want to stay rich, stay stingy. I’m the stingiest guy on the planet.”
