How to go broke like a rock star

12 October 2008

So you wanna be a rock star?

Just make sure that your finances are in good order.

Court papers surfaced earlier this year revealing that our beloved Britney Spears, despite making a $737,000 monthly income (approximately £420,000 with my poor mathematical estimates), she doesn't save a single penny.

Here's a further breakdown of her spending (found on AOL):

--A monthly income of $737,000.
--Monthly entertainment and gift expenses of $102,000
--Monthly clothing expenses of $16,000
--Monthly dining expenses of $4758
--Monthly mortgage payments of $61,271
--Monthly charitable contributions of $500

(Yes. Charitable Britney donates 0.067% of her monthly income. Isn't that sweet??)

But Britney isn't the only one.

The New York Post reported last month that photographer Annie Leibovitz is $715,000 in debt despite a $2 million annual contract with Vanity Fair.

Hulk Hogan, who had a pretty average wrestling career, spends almost twice as much as the $57,000 he earns each month.  And considering he's sort of semi retired, probably not the best start.  Then again, what can you expect from a wrestler?

On the other hand, Dustin Diamond ('Screech' from the early 1990s series Saved by the Bell) faced foreclosure in 2006, despite royalties from reruns.I suppose passive income isn't what it used to be.

But they are just a few examples, of many more.  Evander Holyfield (former heavyweight champion) Ed McMahon of Tonight Show, and Aretha Franklin (yes, the 'Queen of Soul') have also had their own money issues, mostly with their houses.  But at least they can blame it on the mortgage crisis.

Maybe they should all read this Yahoo article on 12 ways to save money.  [Yahoo]

Quidco, anyone?

How to go broke like a rock star [US News]

TOPICS:   Debt

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