Speaking on punditry duty on CBS for the UEFA Champions League, the 34-year-old said he pays his barber £200 for a haircut.
He explained that he cuts his hair three times per week when he has to show up on television for programmes.
“What does my barber cost? £200 a time, yes,” the former Manchester City and Aston Villa right-back said.
“When I say the most, like I’ll get a trim tomorrow for the Champions League and I’m working the weekend so I’ll get a trim. I did it today. I’ve got to get a sharpen up tomorrow.”
Richards was on a Champions League show with Thierry Henry and Jamie Carragher when he made the revelation.
Meanwhile, Richards believes 18-year-old Liverpool midfielder Stefan Bajcetic is destined for the very top.
“He has been a revelation since he has come into the squad, he really has,” he said after the Reds defeated Newcastle United over the weekend.