“Those Things Are Expensive”: Millionaire Simone Biles Buys Her Basic Amenities on Sale Due to Fear of Going Broke

Becoming a four-time Olympic champion comes with a line of sponsorship deals and partnerships. Simone Biles, who stunned the world in Rio and then continued to up her game as a gymnast, has no shortage of brands looking to her for endorsements.

And yet, when it comes to managing money, Biles is always afraid of running out. Ever the frugal shopper, she discussed her spending habits in an interview a few years ago.

Simone Biles on spending money around the house

Worth an estimated $16 million, the last thing gymnastics legend Simone Biles should worry about is money. After her five-medal win at Rio, she had already cemented herself as the dominant force in gymnastics and signing sponsorship deals left and right.

Appearing on the Kneading Dough show in 2019, however, she disclosed she wasn’t quite the extravagant spender we would expect her to be. Biles enjoys a good sale just like the rest of us. “I was shopping for towels, and those things are expensive! But, you know, I got them on sale,” she shared.

Biles had recently put a down payment on a new home and was quickly realizing how much money it takes to keep a household working. She had a good workaround for that, though. “If you have a housewarming party, then you can get gifts!” she claimed happily. 

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It’s not that the most decorated gymnast doesn’t know how to splurge. It’s just that she waits for the right occasion to spend her money. “I will only splurge if I’ve earned it,” she explained. And earning it, for the gymnastics GOAT, means adding another gold to her medal tally. Easily done, in her case.

She has a fear of going broke

 But the reason Simone Biles stays wary of spending too much money. “I have a fear of going broke,” she revealed. “Sometimes I go on days to see if I can’t spend any money. But then, of course, my gas light comes on. So I have to go get gas.”

Before the Olympics, she had talked about her dad giving her a credit card to spend on whatever she wanted. But Biles said that, unlike her sister, she made little use of it. “I didn’t really swipe the card. Maybe once in a while, I’d go get Subway. But other than that, I didn’t swipe it.”

Recently, she starred in an advertisement for Subway. Added to her list of partnerships is Athleta, where Biles launched her athleisure clothing line. Leading up to the 2020 Tokyo Olympics, the gymnast earned an estimated $20 million from various deals over the years leading up to it.

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We hope that receiving the Presidential Medal of Freedom earlier this month called for a big spending spree for the athlete.