When asked about the most luxurious thing she has ever splurged on, Tyra Banks dished on the “frivolous” way she dealt with an unbelievable issue: having too much money.
Joined by her FABLife co-host Chrissy Teigen, Banks told PEOPLE Now: “This is really not relateable. My accountant said, ‘You’ve reached a certain bracket of income, and you’re not spending enough, and what’s going to happen is the government is going to take it and blah blah blah, and you need to start spending it.’ ”
She continued, “We created something called F accounts or frivolous accounts.”
And how did Banks empty out her F accounts? “For a couple of years, and I didn’t even want to, but I would just fly the most amazing private jets and do all this kind of stuff.”
The former model insists she didn’t appreciate her personal plane as much as, say, everyone else in the world would.
“But I didn’t enjoy it, I don’t like private,” she tells PEOPLE. “I like people in the plane, I like the flight attendant coming with the cart, I like the baby crying,” she says.
Looking back, Banks admits her funds (as frivolous as they were) could have been better spent.
“I realized in hindsight that I shouldn’t have done that and I should have invested in art. Because it’s not like that jet is doing anything now for me,” she said.
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Banks’ new show FABlife premieres Monday in syndication (check local listings).