Pop Culture and Entertainment

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We all love to gawk at celebrities in the news. The rest of the world may focus on sex tapes and wardrobe malfunctions, but here we like to discuss and cover the trials and tribulations of the rich and famous.

See something money related in the news about someone famous? Email us or hit us up on social media and we’ll share it with everyone else.

#FinanceFriday Lessons from 50 Cent’s Bankruptcy

By |2015-07-17T14:26:06-04:00July 17th, 2015|Quickies with Bette|

Curtis James Jackson III, AKA 50 Cent, filed for bankruptcy. Despite a Net Worth of $155 million a few months prior, he now lists assets and debts between $10 and $50 Million. Individuals who quickly make huge sums of money in a short time (think pro athletes, lottery winners), forget that the level of income will not go on forever. These people might spend too extravagantly, buying big houses and shiny, fast cars, not understanding the cash flow needs (I.e.- maintenance) of these assets when the money stops flowing in. In the case of 50 Cent, his bankruptcy documents stated his "debts are primarily consumer debts." One of his other business ventures also recently filed for bankruptcy as well.

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