Tyler Posey, star of the new movie "Truth or Dare," has over a decade of acting success under his belt, but he still remembers — and cherishes — the item he splurged on with his first big paycheck.
Posey tells CNBC Make It that he was 6 when he began pulling in some pretty big money, but he wasn't allowed to use much of it until he was 12. That's when he bought an electric guitar he'd had his eye on at a local L.A. music store.
"I would walk in there, and there was basically this wall of guitars, and there was this one that stuck out. It was this beautiful red, Thinline '72 Telecaster, a Fender, and it was a semi-hollow," Posey tells CNBC Make It, adding that it had a "beautiful, sparkly pick guard."
Posey, who now also plays in a band called PVMNTS, says the store gave him a good deal, but he still shelled out over a grand for the guitar.
"It was my first real electric guitar, and since then it's been through the ringer," Posey says. "I've dropped it a bunch of times, it's got all these cracks in it, but it looks so cool and vintage and it's like falling apart now."