Stop Trying To Keep Up With The Joneses! 10 Reasons Many Celebs Go Bankrupt

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“How he gon’ file fo’ bankruptcy?!” we often ask incredulously. “That man is rich!”

But wait! Are they really that rich or is that what they want us to believe? The paparazzi captures celebrities stepping out of fancy cars and palatial homes, but little do we know, they’re just beggars under a cloak of “I want y’all to think I got it like that, but really, I don’t!”

Keeping up with the Joneses is great, I suppose, for maintaining a faux image of wealth and luxury, but it won’t be long until all that stuntin’ around Sunset Boulevard wipes your bank account clean. Now you’re bankrupt! Was the facade really worth it?

I can’t count how many celebrities who have recently filed for bankruptcy: Toni Braxton, Sinbad, Mekhi Phifer, DMX, Michael Vick, T-Boz, etc. Sure all of ’em have had different financial hardships that have lead to their collapse, but there is a common thread. Let’s just say if Suze Orman was here, she’d say, “Stop trying to live above your means!”

With supporting examples, let’s get into why the celebrities we know and love fall onto hard times.

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