One Direction have gone from everyday school boys to amongst the music elite in the space of just 3 years.

With such ubiquitous fame and huge numbers of fans, there comes a huge responsibility.
Being multi-millionaires in their own right with an extremely impressive fortune combined, it is important that they start putting plans down to manage their financial future.
One group who knows all about money, is Status Quo who have had around 60 hits in the UK – now that is a A LOT.
“It’s a good point to keep your eyes on the money with bands like One Direction,”, said Rick Parfitt, the group’s lead singer.
”As when you’re starting out and you’re a guitar player or a singer, what do you know about money?”

Although they have splashed out on some big purchases, they certainly aren’t spending like Justin Bieber.

Rick continued:
“The questions they need to ask are ‘have you checked your lawyer? Have you checked your accountant? Do you know your accountant?’ I wish we had because if you don’t, you can get taken advantage of.”
They are under the control of Modest! Management and there are many people on One Direction’s team to pay – as well as the international record deal with Columbia.
It is hard enough to make money in the music industry now, so having a tight control over earnings is crucial for 1D’s future.
Rick agrees but said:
“We didn’t get our due but its tricky, I think. Sting took a lot of stick for losing 6 or 7 million
quid to an accountant but it’s difficult.”
Think about when the super fame fades 1D, you’ve got to be smart now