This is a very interesting epidemic, which is that celebrities are not necessarily exempt from the economy, or it may just be that they are bad at financial planning, as usual, because they have never lived in the real world. Too harsh? The sidenote to this story is that I am a big sucker who always checks out celebrity news on my iPhone before work, or actually, when we are getting our meetings started, but who cares? So I saw that Stephen Baldwin, who comes from an incredibly famous family and has made some movies himself, is filing for bankruptcy!
Apparently, he and his wife have million-dollar mortgages that they are unable to pay, and he has $70,000 in credit card debt! That is completely unbelievable, especially when he has made movies where you would think that his paycheck would be a little bit larger than working at a fast food chain, so he should be able to take care of it. This may just be some poor financial planning on his part, especially if he does come from a famous family and was not taught how to manage his money like a normal person. The only downside of being a celebrity is that his bankruptcy is splashed all over the news!
