Kevin O'Leary, investor and host of "Shark Tank" might give out smart advice when it comes to saving, investing, and budgeting, but he admits that he sets a "bad example" when it comes to his food budget. Here's why Kevin O'Leary spends $1,000 on food a day.
O'Leary justifies this budget item as a business expense. For O'Leary, breakfast meetings, business lunches, and dinners are a necessary cost of doing business. “For example, today’s breakfast cost me about $200,” O’Leary told CNBC Make It in July in New York City. “It was a very important meeting with somebody I have to do business with.”
For those just starting out, Kevin O'Leary suggests not spending more than 20% of your after-tax paycheck on dining out. If you want to be "smart," keep your expenses at 10% of your biweekly paycheck and eat at home four days a week at minimum.
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Kevin O'Leary: I Spend $1k A Day On Food
Kevin O'Leary: I Spend $1K A Day On Food
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