Whether at home in Center City or on weekends visiting Grandma in Phoenixville, Kevin Bacon lived life in the moment.
“Without much guidance, it took me a long time to come around to the idea that you have to have a kind of responsibility with money, to keep an eye on it,” Bacon said in a PhillyVoice report by Marielle Mondon. “To a certain extent, I still kind of struggle with it.”
Among the most memorable money management tactics from his youth and young adulthood, Bacon said, “I was a cash-only kind of guy. I’d get paid out at the end of the night, spend some of it at the bar, wake up the next day, and check my pockets to see how much money I had left.
“There was never a budget or any kind of longer-term financial plan. I’d make money, spend it, pay rent, spend more money, and hope that when the end of the month came around, I’d have enough to put up another month’s rent.”
Bacon blames some of that on being “a creative person who doesn’t understand money easily,” but he now advocates for financial planning.
“Ultimately, if you stick your head in the sand, you’ll be sorry,” he said.
Read more about Kevin Bacon’s financial upbringing from PhillyVoice here.