Nara Smith Advocates Frugality, Questions Lavish Spending on Birkin Bags
The 'tradwife' influencer, with a reported $6 million net worth, explained her philosophy on careful spending and investing during a recent podcast appearance.
Influencer Nara Smith, known for her 'tradwife' lifestyle content, has shared her perspective on financial prudence, suggesting that spending on luxury items like Birkin bags may not be the best use of money, despite her own millionaire status. Smith, 25, discussed her frugal upbringing and its influence on her spending habits during a recent appearance on Emma Grede's "Aspire" podcast.
"He drilled into our heads to save and live below your means," Smith said of her father's financial teachings. "It was never, 'Oh you're getting a paycheck go ham and do whatever.'" This philosophy, she explained, has guided her approach to her own finances, which she described as careful despite a reported net worth of $6 million. "It feels like not the best use of money," she stated regarding the purchase of a Birkin bag, which can range from thousands to hundreds of thousands of dollars.
Fellow entrepreneur Emma Grede, who co-hosted the podcast, shared a similar sentiment, recalling instances where she opted not to make impulsive luxury purchases, finding better uses for the funds, such as investing for her children's future.
Smith also detailed her hesitation with everyday conveniences like food delivery services, citing the additional fees. "I'm like, 'We can't Postmates that. It's going to be $20 in delivery fees. I'm just going to run to the store really quick,'" she admitted.
Reflecting on her first paycheck from modeling at age 14, Smith described the excitement of earning around $300 and being able to buy herself a $6 Starbucks drink as a significant reward. "It was the best experience ever," she recalled.
As a mother of four, Smith emphasized the responsibility she feels to manage her finances wisely to provide for her family. She mentioned having multiple income streams and investing revenue in specific areas and companies to build generational wealth. Smith expressed gratitude that she and her husband, Lucky Blue Smith, are aligned in their financial outlook.
"It's always 50/50 and that's just what it is," she said of their joint financial approach, adding that they have never experienced friction discussing money matters.
In a separate discussion on the podcast, Smith also revealed her decision to get her tubes tied after having four children. "We're done having kids. I couldn't imagine being pregnant," she stated, explaining that while she would love another baby, her body may not withstand another pregnancy and postpartum period. She added that she prefers to focus on the current demanding stages of parenting toddlers rather than starting over in ten years.
