Thursday, November 4, 2010

Another famous couple facing bankruptcy

Heidi Montag and Spencer Pratt

Famous for being famous. Famous for all her cosmetic surgeries. Formerly Hills (some type of reality tv show) cast members but I never watched that show so don't know what it's about. They are almost bankrupt.

Supposedly $2 million of taxes is outstanding and their estimated $10 million fortune has been squandered due to their extragant lifestyle and consumption. Not your normal typical consumption for ordinary folks which consist of grocery, utility and $2000 housing bills. We're talking blowing millions on failed music careers (nothing wrong with this expenditure - unless her musical talents were nil to commence with), numerous plastic surgeries despite being so beautiful originally, six luxury cars, private jets and $35,000 per month on renting their Californian home.

If you had $10 million, what would you do with it?

It's one thing being rich and famous ala Angelina Jolie, Brad Pitt and Madonna and it's another thing to be famous and broke - Heidi Montag/Spencer Pratt, Danni Minogue, Tara Reid.

Despite their lifestyle and consumption involving numbers in the thousands and millions, this is simply a reflection of our society as a whole. The desire to fit in and keep up with the Joneses. Amongst us ordinary folks and our expenditures, we're talking more about the hundreds to thousands of dollars rather than the thousands to millions of dollars. Just a few more zeroes than usual ^_^

I've never been one to wish any bad luck on anyone, so hopefully they'll find their way out their financial mess. Maybe someone should point them to the financial blogs and advices available on the web. I'd be wary of the sharks and hanger-ons that they probably have surrrounding them under the guise of friendship and management. Or get a recommendation from Madonna regarding a financial advisor. Madonna comes across as very wise and shrewd in regards to business and running her empire.


  1. This should be a lesson to all the people there who are having a great time spending lots of money and not thinking about being broke and getting bankrupt in the future. Well, good thing there are Chapter 13 and 7 of the bankruptcy code, wherein they will be given time to pay all their debts and be protected against harassing debt collectors.

    >Cade Culpepper

  2. Our economy needs people to be spending up big but for a stronger nation and economy going into the future...following the saving rates of Asia is the way to go. Singapore is a classic land, no natural resources nor minerals and not many factories like China and yet it's such a wealthy nation because the country and its citizens invest into international economies and businesses and as such, rake in good returns which bolsters up the wealth of their nation.