He shared his belief that this is the most effective method for someone to maintain their wealth. He made this revelation while appearing on the Impulsive Podcast.
With confidence, he asserted that he is “the most frugal person on the planet” and proposed that practicing frugality is the key to preserving one’s wealth.
Akon stressed the importance of financial discipline as a means to remain affluent.
He recounted his personal experience with owning a private jet, which lasted only six months due to the excessively high maintenance costs that surpassed the actual purchase price of the jet.
He advised individuals who are contemplating acquiring a private jet or other expensive assets to reconsider and instead opt to rent these assets only when necessary.
“Under no circumstances should you own a [private] jet. My friend, owning a jet means you are spending a minimum of 2-3 million dollars annually just for maintenance. The maintenance costs more than the actual jet,” he remarked.
Akon further encouraged people to manage their money as if it had to sustain them for their entire lifetime.
He argued that adopting this perspective would significantly influence the way people handle their finances.
“This is the advice I offer to everyone. Treat the money you currently have as if it has to support you for your entire life. When you approach it from that angle, you will be very cautious,” he asserted.
The singer’s financial advice quickly sparked a debate on social media, with some applauding his wisdom while others expressed differing opinions.
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