The 22-year-old's management team stepped in after Sheeran tried to buy two cars even though he does not have a licence, reported Sun online.
"My manager doesn't let me have credit cards as I do weird things. He has to approve everything I buy. One day I said, 'I think I'll go and buy some cars today', and he goes, 'Right, but you don't drive'," Sheeran said.
Sheeran, who performed across New Zealand over the weekend, is thought to be worth around four million pounds.