Gosh I guess I really don't spend money.
Like,
I went to go buy a purse a couple, probably a year and a half ago, and the
credit card was declined because the bank was like, "Fraudulent charge.
Never been spent.
This much money.
Something's wrong."
Yeah.
It's very quite embarrassing.
I'm Jenna Goudreau with CNBC Make It, and this is Money Talks.
Today I'm here with Chrissy Metz, Emmy and Golden Globe-nominated actress
best known for her work on "This Is Us" and "American Horror Story."
Chrissy also sings in the band Chrissy and the Vapors, and has the movie
"Breakthrough" coming out this spring and is the best-selling author of
"This Is Me."
Welcome Chrissy.
Thank you.
Thanks for having me.
So I want to get right down to it.
I'm a huge "This Is Us" fan.
Thank you.
And I've been dying to know, what do you think Kate's salary is in a given
year? And Randall's since he lives in that big house.
I know Randall's is at least six figures, although now he's a politician.
Right.
Right. So I'm not sure.
I know it was at least six figures previously.
Kate. Sister does not have a steady income, you know?
She's an aspiring singer and,
Right.
of course, moves in with Toby.
So Chris and I always joke about it.
I'm like, "Right.
So I'm glad that you're supporting her career, singing career and what she wants to do."
But I would say less than $30,000.
OK. All right.
And I think that's from Kevin, from her brother.
OK.
Like, he's like, "Here's a little severance pay.
I moved away and here's some money."
Right.
Yeah.
All right.
Well in all seriousness I want to talk about who taught you about money,
because I know that you grew up in Gainesville, Florida.
Actually only about an hour away from where I grew up in Jacksonville.
I know, what a trip.
And you've been really open about how your family struggled with money.
You said your mom didn't even always eat...
Right.
...to make sure you and your siblings had enough food.
Right.
How did that affect you and how did that shape your money philosophy?
Goodness, I guess I didn't really have one and if it was a philosophy it was:
We don't have any.
But now as an adult and of course in a career and, hopefully, a long
career, and hopefully some more stability than I've ever had in my life,
that I can understand how it all works.
But it was, it is still sort of brand new to me, but it always has been
brand new in that, "Oh, there's money?"
I mean I had a credit card at 18 years old and I bought perfume with it.
I think I spent like $200 on a couple bottles of perfume and ended up
spending like $2,300 after interest and all is said and done.
Paying it off.
And I was like, "Oh, I'm never doing this again."
I'm like, "I'm never getting credit cards again."
But that's not always the answer either.
So it's been sort of trial and error and figuring out what's what's right
for me and but just knowing, just sort of educating myself about it, and
talking about it and being honest about it, which is not always easy.
Right.
Yeah.
Well you have been really open about your finances, and now you're working on a Turbo campaign.
Yeah.
#RealMoneyTalk.
Yeah.
Which encourages people to talk about money.
Absolutely. It's all about just being honest and talking about money and
really kind of being open about, "Well, how do you do this?"
And, you know, let's get real and let's be honest with each other and,
because there's such a stigma around, you know, our finances, and what
does that mean, and who am I as a person if I don't have money or I don't
have the financial freedom that I would like to have.
So yeah, it's just about talking and being honest and real about it.
Which, I think when we do more often, then it will become easier.
So.
Well, in the spirit of being open about money.
Yeah.
I would love to know how much cash you carry on you, and if you could show
me what else is in your wallet.
Oh, I would love to.
I hardly ever carry cash.
OK.
Although, when I come to New York I try to have cash, but I did tip the
doorman. So I don't have cash.
I know, for sure.
Ok.
And my wallet is really not that exciting.
Let me see what's in it.
Okay.
Oh, it's very nice.
Classic black.
I've had this wallet for quite some time.
OK. How many years.
Probably three.
OK.
Almost four years.
All right.
She's done me well, but here's the thing, it's really good inside, because
there's multiple places.
Also a zipper and also secret, like, you know if you want to put some
bills that maybe you don't want anybody to know that you have in there.
All right, that's key.
Because there's - I bought a very expensive wallet and it's not functional.
Really?
I'm just, I'm kind of bitter about it.
Anyhow.
How much did this wallet cost?
I got it at, I think at Nordstrom Rack.
OK.
I think it was like $44.
Alright, a deal.
I mean she's - she's already paid for herself.
So, I have my California driver's license.
OK.
My credit card.
What's your credit card of choice?
Well I have City National Bank, that's what I bank with.
And then I have another credit card, an American Express card which I
never thought I'd ever have. What?
Alright.
Yeah. And it's the hard thick one.
It's the business account, folks.
Fancy.
Yeah. Crazy life.
And then I just have a debit card.
OK.
I have my SAG-AFTRA card. Actor, performer
since 2005 everybody.
Wow.
I know, cute.
Oh and I got my Costco card.
OK. That's important.
Do you shop at Costco?
My best friend had been begging me to join Costco.
I'm like, "We don't need that much toilet paper."
Right.
We need that much toilet paper.
So now I am an executive member at the Costco.
Alright.
Because we buy a lot of toilet paper.
And when I say we, I mean he because it takes a long time when I go to
Costco. Anyway, and then I have a Ticketmaster gift card.
Ok. Very nice.
Yeah.
And so no cash?
No cash.
What about change? Do
you keep spare change?
Yeah, girl.
You gotta have change.
Let's see what's in this pocket.
Yep. I don't know probably.
Oh, look at this.
I didn't know I had this.
What is it?
It's a dollar.
Oh wow.
It's a $1 coin.
Alright.
Wow that's cute.
So, just, I try to keep a little change only because of parking meters in
L.A.
Right.
If like I'm running in somewhere, I don't want to take my card out and put
it in the meter and so I'll just drop a quarter or something, but I hardly
ever have actual cash on me.
Yeah.
Well, thanks for sharing.
Yeah, I know it's sort of anticlimactic but.
I read that when you booked "This Is Us," you had 81 cents in your bank account.
Yeah.
And now you're a millionaire.
Well I don't know.
Something like that.
Close?
Yeah. I don't know.
I don't even know what that means.
So I don't know.
But yeah 81 cents is quite accurate and scary, right?
Scary, yeah. How has your life changed now that you have money?
Oh gosh.
You know, Diddy once said, "More money, more problems."
And sometimes that's accurate
because there are things that you have to deal with and pay for that you
never had before, and you really have to make sure, you know, I mean, I
have a bigger life.
You have, you know, a lot of responsibilities and I'm basically a business, right?
So, it can be overwhelming.
You know, it really can be and I often ask, you know, my castmates or
other actors, like, "How did you do this?"
and "Do you have this?"
Because it's uncharted territory for me.
So, it's exciting and it's wonderful but it's also still overwhelming
and it's only been three years in, so it's all very new to me.
But, you know, I don't have to lie and say, "Oh, I can't go to dinner
tonight because I'm not feeling well."
Because now I can pay for dinner or I can take friends out.
And that's really important to me and, not that lying is ever condoned,
folks. I'm just saying, you know, we want to save face sometimes.
But, yeah and, you know, being able to do nice things and buying presents.
Ones that I would love to give you know to people that I haven't been able
to do before.
Right. So what do you splurge on and what do you refuse to spend money on?
I don't know what splurge means because I don't think I've ever done that.
No?
No. I don't.
Like what does splurge mean to you?
Like a big purchase that was - that felt almost like should I spend this money?
Like frivolous?
Not frivolous but, like, almost uncomfortable but you go ahead and do it
because you really want it and it's meaningful to you.
That's about everything.
OK.
I mean.
So you struggle to spend money on anything.
Oh yeah, oh yeah for sure.
OK.
For sure.
I mean even if we're at the grocery store I'm like,
"Do we really need that much toilet paper?"
Right? I'm like, oh.
I just try to be cognizant of that because, here's the thing, yes I'm on a
hit show but I don't know how long it's going to last, and what that means
financially, and I want to be smart about the future.
So, I try not to spend or splurge unless it's...I
don't know, I feel like I really haven't - really haven't splurged.
Is there something that you refuse to spend money on?
Like, "I'm not gonna buy coffee out, I can make it at home."
You know...
Gosh, I guess I really don't spend money.
Like,
I went to go buy a purse a couple, like, probably a year and half ago and
the credit card was declined because the bank was like, "Fraudulent
charge. Never been spent.
This much money.
Something's wrong."
Yeah.
It's very quite embarrassing.
But, yeah, I guess - I don't know.
We often cook at home where I have like a delivery service and that, you
know, makes sense, it's affordable.
I don't, just because I have the money or might have a bit of a cushion
doesn't mean I'm like, "Make it rain!"
I'm not interested in that.
Right.
Yeah, I've been broke once.
You know I mean?
Right.
Yeah.
So how do you manage your money now?
Are you a big saver, then?
I do save.
I do save and I have a business manager, but we're - I'm very hands on.
I talk all the time about it.
I'm like, "OK, so what is, like, what is the credit card amount?
Like, how much do I owe on the credit card?" And
like, "Do we have any any sort of room for new furniture?" Because
I still haven't had new furniture.
Anyways, everyone's griping. They're
like, "Buy the couch."
So I'm - I'm in the process of that.
But I literally and like.
I don't want to make any rash decisions.
So, no, I go through everything that's being spent.
Everything that's been paid for, whether it's, you know, tailoring for
events or
when we travel.
I just try to make sure I know everything that's coming and going.
What are some of the big money mistakes that you've made in the past and
what did you learn from those?
Oh, money mistakes?
I think
being frivolous and not realizing what it was that I had in my bank
account, or OK, I make X amount of dollars a month.
OK. Well that means you can't go and do X, Y, Z three times.
Maybe you can do it once, but you can't do it every single week.
And just being responsible, you know.
I was like I don't have any money so who cares.
Let's spend it.
Right.
The money that I did have but that is not smart, so.
You mentioned credit cards.
Yeah, right.
Did you rack up credit card debt?
I just - only that one.
That one.
I had some, I didn't have health insurance while, you know, as an aspiring
actress and so I had a lot of medical debt from, like, dentists and, you
know, it weighs on you.
And I'm like, "I don't wanna - I owe people money, I want to pay them
back." And so, you know, I was late a couple times on my car payment
because I was like, "Oh, food or car payment?"
Like, what?
I hate to have to make that decision, but luckily I was able to, you know,
get it all sorted.
But, yeah, after that credit card perfume debacle I was like, "I don't
want a credit card ever again."
And then I realized how they work.
And if you spend the money, you gotta pay it back, folks.
In a timely manner.
With interest.
With interest in a timely manner.
Yeah, and be smart.
And then just - just sort of educate yourself and have a plan.
That's something I never really did was have a plan.
I had it for a lot of other things.
Right? Finding a man, my career, you know, but not my finances.
So.
Not a money plan.
Yeah, so yeah.
Do you have heroes that you look up to like Warren Buffett or someone else?
You know, I heard recently that he drives the same car.
Yes.
He lives in the same house.
He eats, like, this one particular breakfast that's like $1.99.
I'm like, "Am I doing it wrong?
Did I spend too much on that latte?
Did I?" I mean he is a hero, because I don't know if I want to be that
diligent.
Right.
I want to go.
Frugal
Yeah frugal, right?
I want to enjoy. I want to
enjoy and I'm sure he does.
But he also has the room. He has
the room to enjoy.
Right.
So, but yeah, I mean, I want to talk to him about that.
Like what is it?
Why does he do that?
Maybe it's out of comfort.
Maybe it's...but
also, I mean, everyone.
Justin actually is like, "Get this kind of car, get that kind of car." I'm
like, "I have a lease.
I don't need a new car."
He just bought this gorgeous Porsche. I'm
like, "Don't put that on me just because you got a really nice Porsche.
I don't need a new car.
My car works fine."
So you got a little bit of the Buffet mentality in you.
Yeah, I guess I do, now that I'm thinking about it but not...I
like breakfast and maybe his $1.99
breakfast, or whatever it is, is delicious, but,
Right.
I'll spend money on some breakfast.
OK.
Yeah.
All right.
And who among the "This Is Us" cast members is best and worst with money
do you think?
Oh goodness.
You know, it's interesting.
I think everyone's really responsible.
I mean, I always felt like the last, sort of, grown-up as far as the cast
goes. You know, people, I think everyone pretty much owns a home.
And, I don't know, it's hard to say.
Milo and Mandy have been in this for so long, but Sterling's a father, you
know, and a husband.
And so, I don't know.
I think they're all doing just fine, but I haven't really delved into that
with them.
Ok. Maybe we'll have some real talks soon.
Maybe we're going to have some real talks with the cast.
Yeah, maybe so.
And have you ever asked for a raise?
Oh yes I have, and it was very uncomfortable.
Why?
Because I think it's sort of what the mentality that we're put in as women,
particularly. I think also, in my time in my career, I think, "Oh, am
I deserving of that?
Like, I don't know."
But that's sort of something that I've always been, I've been contending
with is like, "Oh, do I deserve that?"
And when I see other people do it and they're courageous and strong about
it I'm like, "Oh, I can do it too."
And then I'm like,
"Wait, I work really hard.
Yeah I can ask for a raise and I deserve it."
I'm not necessarily entitled, because I think that's when the ego gets
involved. But I am deserving of it.
So it was challenging, but it was - it was also exciting and, you know,
once you do it you're like,"OK.
Yeah and I can do this again."
That's great.
Yeah.
How did you build up the courage and like phrase it?
Did you have some surge strategy?
Yeah I think it was just here are the facts and here's what I've done.
And I believe that, you know, I'm deserving of, maybe, of an increase and
I'd love to hear your thoughts.
You know?
Not demanding and, you know, let's have a conversation about it.
And...
You know, I had help and I have some really strong, amazing women in my
life who are like, "No, Chrissy.
Like, this and this and this."
And so, they were my little cheerleaders on the side.
Good for you.
Yeah.
Well for people watching this who want to make it, who want to achieve
their potential,
Yeah.
What is your best piece of advice for them?
And if you could credit your success to one thing, what would it be?
Wow. I think in life we just can't take things personally.
The way someone thinks about us, speaks about us, is not the truth, right?
It's their perception.
And so, if you believe in yourself and you want something, and it, like,
comes from, like, the soul, the spirit, the heart of you, like, you have
to pursue it.
I think it's, obviously, important to be honest.
Like I said before, having a real money talk about where you're at
financially, and just where you're at mentally, emotionally, financially,
all of those things sort of come together.
But I think I credit it to just working really hard.
And not giving up and standing in line long enough. Yeah.
Well, congratulations on all your success.
Thank you.
Thanks for being here.
Thank you for having me.
Thank you.