I stumbled on a news item today that I think illustrates what I was talking about yesterday, when I blogged that money can be a debt magnifier.
“Pamela Anderson used to be the Baywatch babe with the million-dollar body! Now, she owes more than $1.2 million to creditors, including construction companies she stiffed after they remodeled her five-bedroom Malibu Colony home last year! “
The article goes on to talk about how Anderson owes $674,043 to the contractor, as well as $252,360 to California’s Franchise Tax Board in unpaid income tax from 2007. She might even lose her multi-million dollar home.
This just shows that having a lot of money, doesn’t solve your money problems if you don’t know how to manage it in the first place. In this case, being rich and famous was just a fast track to mega debt when Anderson’s poor decisions were amplified by her wealth.
Let this be a reminder that we should get our habits under control before we throw more money into the mix.
Pamela do not give up!
I too have money isues but
we will both make it!
what did u do with all your money?
Hire a manager and get a new/wholesome image and get towork…it will not go away if you put your head in the sand. Put on some pants.
always think before u do something dont be caught up with the world money is is wind it come and go in a second
dont wory just take one step at at a time
I’m sure she can figure something out. They make it quick spend it quick and make it back just as quick as long as they are able to reinvent and stay with the times.
Typical brainless blond. No wonder she entered Dancing with the Stars It will be another loss for her as her sexy days are over and she starts to look like a middleaged worn out whatever. Like many “stars” they have trouble adjusted to a normal life after their glory days are over.
[...] is in the form of back taxes and money owed to her building contractor, we think some of Pam’s $1.2 million in debt could successfully be transferred to a credit card with a low interest rate. Lenders issue bank [...]