Joel Madden blew half a million dollars on cars after he shot to stardom, but vowed to curb his outrageous spending sprees after having children with wife Nicole Richie.
The Good Charlotte rocker frittered away a fortune after finding fame with the band, and admits it was a "silly" attempt to boost his low self-confidence.
He now has two children with his partner Richie - daughter Harlow, three, and 16-month-old son Sparrow - and he's adamant the responsibilities of fatherhood forced him to stop wasting his money.
Madden tells Kerrang! magazine, "I feel stupid that I felt I needed to buy so many cars, to have so much stuff. I always had a bit of a self-confidence thing. I was always a little bit scared... of everything.
"I never felt that I was anything: whether it be smart enough, or cool enough, or tough enough - anything. And it's not really about the cars themselves, I feel silly that I put so much faith in the idea that buying these things would somehow make me feel better.
"These are things that I couldn't give a s**t about now... Me and my wife lead pretty normal lives. We sit down like any couple and go through the bills together... But becoming a dad has really changed the way I live my life. It would be nonsensical for me to spend money the way I used to.
"Also, I don't want to send the message to my kids that it's okay to buy crazy stuff whenever you feel like it. I don't want them to think that's a good way to live."