Josh Peck learned to manage his money by avoiding putting all his eggs in one basket.

Josh Peck, a former Nickelodeon star, states that the common misconception about child stars is that they are financially secure for life.

Peck, 35, tells CNBC Make It that "I had to work" and manage the money he did have because he was providing for both himself and his single mother, who struggled financially.

"Don't put all your eggs in one basket," he advises, as the most significant financial lesson he's gleaned throughout the years.

Peck earned around $15,000 per episode from "Drake & Josh," which ran from 2004 to 2007. In his new book, he reveals that he made a total of $900,000 from the show. After paying his agent and manager a 20% fee and Uncle Sam a 30% tax, he was left with approximately $450,000.

Although it's not terrible, if we spread the cost over five years, which is the time it took to film all 60 episodes, it comes out to be approximately $100,000 per year.

When the show ended, Peck only had about a year's worth of savings.

He states that he isn't complaining, it was simply the truth.

Peck learned to be frugal with his money due to his unstable financial upbringing. After the show ended, he continued to act in both TV shows and movies, starring in "Grandfathered" and a 2021 continuation of "Turner & Hooch" on Disney+.

He earns most of his income as a social media influencer and podcaster, and he divides his earnings into three categories: one he manages himself, one he leaves with a family money manager, and one he invests in real estate.

If one of my three exposure points is hit incredibly hard, I would likely be okay," he says. "It's unlikely that all three of my exposure points will be hit at the same time.

Peck is a saver who only shops during sales and wouldn't spend $1,000 on a spending spree or invest it in the stock market.

He would buy a camera if he didn't already own one and use it to post videos online because he believes it is a way to create an income stream on his own.

He states that he would invest in himself rather than in a company, hoping that it would yield a return on investment.

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