By Ngozi Nwanji
Not only is Caleb McLaughlin one of today’s top young actors, but he’s also quite financially responsible for his age.
McLaughlin’s career took off in 2016 after “Stranger Things” premiered on Netflix. With the hit show’s new season currently streaming, CNBC reports that he didn’t make any big purchases until the season prior.
The Big Purchase
Reportedly earning $250,000 per episode, McLaughlin didn’t touch much of his money until last year after season three, when he bought a Tesla Model X, which retails starting at $106,590, according to the outlet.
Although Teslas are nowhere near cheap, the purchase was still a wise one as owning a car was a necessity of his after getting his driver’s license.
Where It All Stems From
His strong sense of financial literacy stems from his childhood upbringing by his parents.
“I always felt like I had a smart mindset. My parents have always provided,’” he said. “They’re like, ‘This is your money, you can spend it however you want to spend it, but as your parents we would like to teach you about budgeting and not spending just because you can.’”
Seeing Dollar Signs Since a Pre-Teen
The financial success behind “Stranger Things” wasn’t his first rodeo with having the big responsibility of handling a large sum of money.
At the age of 10, McLaughlin earned big while playing Simba in “The Lion King” on Broadway.
“I was 10-years old making money that an adult would, you know? I was like ‘Oh, can I just get pizza? Or can I get more, like two slices of pizza? Or can I get more video games? Can I get a PS3?’” he says. “I bought things that kids wanted, but I never had a big purchase.”
One Of Caleb McLaughlin’s Keys to Financial Wellness
While McLaughlin is helping spread financial knowledge to youth in his partnership with Step, he shared a gem of advice with the outlet: Having separate accounts for everyday spending and bigger purchases.
“I’d never just look at my account and be like ‘oh, I have a lot of money to spend now,’” he told the outlet. “I don’t really go out there and buy things for myself that I really want. I buy things that I need.”
