Comments on: Celebrity Money Meltdowns

By: mthakor

mthakor — Fri, 18 Dec 2009 17:17:21 +0000

So true – if you are not making a living wage, are unfairly underpaid, or are un- or underemployed… making ends meet is a daily struggle. Full stop. That said, during my 15 years working in the financial services industry I was absolutely stunned by the number of people I met who were making six or SEVEN digit incomes and still living paycheck-to-paycheck as a result of prioritizing joy today over pleasure tomorrow. While nothing is ever certain, one thing is clear… if you spend more than you earn you will end up in the red. And that is a very painful place to be. My hope with this post is to show how widespread this problem is.

And speaking of problems, dear readers, if you have not read this piece by Laura Vanderkam, give your brain a gift that will keep on giving and take a few minutes to read…
THE PRINCESS PROBLEM. Hands down, this was the best Op-Ed I read in 2009 on the subject of women’s economic empowerment.

By: Laura Vanderkam

Laura Vanderkam — Thu, 17 Dec 2009 14:47:37 +0000

Some people live within their means, and some do not, and while it’s easier to live within your means if you have more money, often the sheer size of the paycheck isn’t what makes the difference. All these stories are good examples of that!

By: mthakor

mthakor — Mon, 09 Nov 2009 23:05:45 +0000

@Carole Brody Fleet Thank you, my sweets. So glad you found this post helpful. It's fascinating to me how personal finance lessons can pop up in the most interesting and unexpected of places and circumstances... Hope you are doing well!

By: Carole Brody Fleet

Carole Brody Fleet — Mon, 09 Nov 2009 22:50:00 +0000

Brilliant as usual my dear friend.

By: mthakor

mthakor — Thu, 05 Nov 2009 22:50:30 +0000

Thanks Susanne - Think you are spot on. It's so easy to think "well, if I just had more money everything would be great." But what I've noticed is that without a solid knowledge of the basics of personal finance, more money so often just leads to... the same problems on a bigger scale! One book I love that really hammers this home is Stop Acting Rich, by the author of The Millionaire Next Door.

By: susanne

susanne — Thu, 05 Nov 2009 21:46:04 +0000

great post! i think people have a tendency to just roll their eyes when they see that someone rich and famous has gone broke. but as you outlined clearly, they are making the same mistakes that everyone makes with their money. these celebrities just do it on a much larger scale!