Keke Palmer has wore many hats so far: actress, entrepreneur, producer, podcast host, singer, writer.

But the 31-year-old spent her money cautiously due to modest growth, saying: Living under her own means is her biggest financial habit of having a safe lifestyle.

"I live under my means. I think that's very important," Palmer said. "If I had $1 million in my pocket, my rent would be $1,500 - that's how I was talking. My car notes would be $340. I don't need (Bentley) Bentayga, I'd ride a Lexus."

Palmer realized as a child that she earned more than her parents. She received her first gig job at the age of 9 in Ice Cube's 2004 film Barbershop 2: Back In Businesses. By the age of 13, she said she had her own credit card and was the star of Nickelodeon's "True Jackson, VP".

"My parents made $40,000 a year," Palmer told the "Club Shay Shay" podcast in an episode in November. "I'm doing a show."

She said Palmer is now trying to follow their example.

"I learned from my parents very early because they know their money and financial situation," Palmer said. "I believe in savings and thrift...I won't carry it with me."

Don't miss: How to change careers and be happier at work

She also shared her wealth with her parents, noting on her “Club Shay Shay” look.

"My dad gave up his pension and gave me the opportunity to realize my dreams. My mom gave up everything so she could travel with me," Palmer said. "Mine is theirs, theirs is mine...I will sacrifice 20 years in this industry so that I can provide and we can have the business we are today."

Living under your means looks different. For example, the classic 50-30-20 budget rules (50% of taxable income for living expenses, 20% of savings, 30% of everything else) are growing, and many Americans are growing, CNBC reported in May 2023.

If you can’t afford to save 20% of your income, first find a way to boost your income and minimize your fixed expenses, Certified Financial Planner Rachel Camp recommends. It looks like picking up the hustle and bustle on the side, taking over roommates, and even rethinking if you need a car in the city.

Palmer has other advice for young people, especially young women: "Learn" economics.

This could mean reading personal finance books, taking a course at a local community college, talking to your money-savvy friends, and even using Chatgpt to help you with your monthly budget plan.

"I'm curious about things like this because you don't want to do things based on survival," Palmer said. "You want to make choices. This is something my mom and dad taught me very early on."

Want a new career with a higher salary, a more flexible or fulfilling salary? Take CNBC's new online course Make strong career changes and find the job you like. Expert lecturers will teach you strategies for successfully communicating, improving your resume and confidently transitioning to your dream career.

add, Register for CNBC MAWE MADE Newsletter To achieve success, money and life tips and tricks.