Debt is no joke. It doesn't matter if you owe a few thousand or tens of thousands. Every single time the mail man pulls away, we cringe. When the phone rings, we're afraid to answer. Our debtors are hounding us day and night for the few dollars we have left and, for many of us, our problems aren't even the result of frivolous spending as much as they are poor financial planning and emergency funding issues.
The average family household in American has a tab of approximately $58,500. That number seems staggering until we turn on our favorite tabloid television shows to see stories about some of our favorite celebrities who are rolling in levels of debt most of us would never dare dream of.
Take Toni Braxton, for example. When she filed for her second bankruptcy, she had over $50 million in debt. Her issues were caused by a health problem that forced her to miss performances. At least she has an excuse, but can you imagine going into that much debt because you had to cancel some performances?
Celebrity photographer Annie Liebovitz, on the other hand, has absolutely no excuse. She currently owes more than $24 million due to her lush lifestyle, including payments for her huge mansion and all of the staff she keeps on hand. You'd think someone earning close to $5 million annually could moderate her spending a bit better.
Don't forget about guys like Nicolas Cage, Chris Tucker, and Wesley Snipes. These guys apparently forgot to pay millions in taxes to the IRS.
Don't let the bill collectors drag you into a deep depression. You may owe quite a bit of money, but you'll never even have the chance to be banned from the Marmont on Sunset Strip for not paying your $46,350 tab (like Lindsay Lohan).
Source: Actual source of graphic piece
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