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This week I read an article about Kanye West being 53 million dollars in debt. 53 million dollars!
He’s not the first celebrity to be in debt up to their eyeballs.
Micheal Jackson’s debt was between $400 and $500 million dollars. Others like Mike Tyson, Lyndsey Lohan, and MC Hammer also had staggering amounts of debt they struggled to pay. You can read about other celebrities and their financial woes.
6 Bankrupt Celebrities Who Went From Rich to Broke – Money Crashers
Wanna Be Rich? Don’t Emulate These Celebrities – Leave Debt Behind
What does this say about us as a society when someone who makes more than most of us average people will ever make in their lifetime can’t control their spending enough to make good use of the millions they make?
Are they that empty inside that even their millions can’t fill the gaping hole in their soul?
It’s no different than all the women out there I know who spent thousands of dollars on coaching programs that promised to make them into superstars.
[tweetthis]Overspending is the ego’s way of making itself feel better.[/tweetthis]
This isn’t any different for someone like Kanye West than it is for someone like you or me.
Most people want to deny this truth. But make no mistake, it’s not a lie. And until the likes of Kanye West or any of the countless others out there who can’t control their spending, can’t put their head on straight in their business as to not overreach, you’ll keep seeing these stories about celebrities and noncelebrities who find themselves on the brink of financial disaster.
Here’s some articles from around the web that may interest you:
11 Habits of People Who Are Debt Free – A Debt Free Mess Free Life
How To Stop Overspending and Get Your Budget Under Control – Money Crashers
The Top 10 Reasons People Overspend – Dollar Stretcher
Your Budget Isn’t Working. Here’s Why – Get Rich Slowly