How Celebrities Go Bankrupt

An article egalZoom.com about how celebs go bankrupt. But there is a good deal of wisdom in it for all of us:

Being a financial tamer sounds easier than it actually is. One Hollywood financial advisor, Scott Feinstein, told the New York Times about a call he received from a client in his mid-twenties who wanted to buy a $35,000 watch. "I said ‘What time does it say?' and he said, ‘Ten minutes after 3.'" Feinstein recalled. "I told him, ‘Mine says 10 after 3 too, and it cost me 60 bucks. Put the watch down.'"

The dollar amounts may be different, but the principles are the same.