Speaking on the Drew Barrymore Show, Affleck admitted that himself and Damon spent most of the $600,000 they profited from the film on a party house.
Having written the screenplay for the film, Affleck and Damon had shared a bank account, and cleared out their entire savings, most of which was spent on this party house.
“When we sold Good Will Hunting I was like, ‘We are now rich for life. My needs are over. I will never have to work again", Affleck revealed.
Detailing what the money was spent on, Affleck continued, “We sold it [the script] for $600,000 (£480,000), we split that, $300,000 (£240,000) each, and then the agents got $30,000 (£24,000)".
“So we had $270,000 (£216,000), and we paid about $160,000 (£92,000) in taxes, so we had $110,000 (£88,000), each bought $55,000 (£44,000) Jeep Cherokees, and then had $55,000 left, which naturally we decided to rent a $5,000-a-month (£4000) party house on Glencoe Way by the Hollywood Bowl, and we were broke in six months".
“I always thought it was perfectly normal", the actor added.
Elsewhere, Ben Affleck explained how he lived in a small LA apartment with Damon, while the pair were struggling actors.
“We would work a little bit. We would do extra work, or a line here and there — the occasional Burger King commercial — and then take that money and put it in the account..", Affleck said.
“We were friends and we wanted each other to succeed and we love each other, so it seemed clear like, ‘Let’s do this together,’ and in retrospect, really valuable because I think kind of starting out in a field like that can feel very lonely".
Good Will Hunting subsequently landed an Oscar for Best Screenplay, with the late Robin Williams winning the Best Actor accolade.
Affleck and Damon are once again joining forces on their latest film Air, which tells the story of how Nike collaborated with basketball star Michael Jordan to create the Air Jordan sneaker, which sees Affleck serve as co star and director.
