I am completely disconnected from the genre of television shows called “reality.” The fascination with people whose celebrity status stemmed from reality television, or most celebrities in general, seems to be built on a foundation of schadenfreude. People love to hear about the failures of famous people.
Heidi Montag and her husband, a couple who met during taping of the reality series “The Hills,” had an estimated net worth of $10 million. She’s now living rent-free with her in-laws. At twenty-four years old, Heidi is a prime example of the boomerang generation, the nickname given to her age group thanks to a tough economy and the tendency for those around that age to move back in with financially stable parents.
When you’re always in the spotlight — and when you pour money into a musical career that never materializes — it’s not so difficult to lose $10 million. Celebrities are under a lot of pressure to maintain their image, because that image is what ensures continued earning power. Maintaining that image can drain your finances, particularly if you’re not smart with the tax bill.
I don’t judge. Would I do handle my finances better than Spencer and Heidi if I became a celebrity and earned my way to $10 million? I like to think I would handle my money differently, and that I’ve learned a little about money management over the past ten years, but you never know how you will react in a situation until you experience it for yourself.
Spencer’s parents are very kind to allow the couple to live in their house after the young newlyweds spent $35,000 a month to rent their former home in Malibu. They’re a perfect example of extended adolescence, two adults not quite ready for living a responsible life. Like many other boomerang kids, they’ll figure it out.
Source: omg! on Yahoo
Published or updated November 17, 2010. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.