Nobody is immune from bankruptcy, not even stars who make big money. No matter how much you have, how you spend your money makes the difference.
“Be mindful about saving and thoughtful about spending,” says Susan Hirshman, author of “Does This Make My Assets Look Fat?: A Woman’s Guide to Finding Financial Empowerment and Success.”
“Don’t spend money you don’t have but think you might acquire in the future,” Hirshman says.
Here are 7 celebrities who were forced to declare bankruptcy, or came very close, and some advice on what we can learn from their mistakes.