Rumor has it that Britney Spears is engaged in reckless shopping sprees;
but not with her own money. According to recent reports, Spears used her
bodyguard's credit card to purchase a new pair of boots and attempted
to sign her "own name" to the bodyguard's credit card receipt.
And that's not the end of the story. Britney Spears is in a conservatorship
(someone else controls her spending) and is limited to a $1500 a week
spending limit. Back it 2007 rumors were flying that Britney Spears was
at risk of bankruptcy because she has spent a whooping $21 million of
her $32 million fortune earned as a pop star. Could bankruptcy really
be in this star's future?
As we have mentioned on numerous occasions, being rich and famous will
not make you immune to bankruptcy. Bankruptcy is for anyone (including
the rich and famous) who can no longer afford to pay their debts. In many
ways, the rich and famous are more vulnerable to bankruptcy than the average
Joe because sometimes their fame and fortune causes them to feel "invincible."
And in the case of pop stars like Britney Spears, there's the whole
image to uphold to the public. And image can get expensive. But Britney
Spears' image may not be the root cause of any future bankruptcy,
it is her behavior. I'm assuming that she is using her employee's
credit card because she has maxed out her weekly spending limit. Well,
if that is the case then it is obvious that she has not learned the lessons
necessary to prevent a future bankruptcy. The fact that she maxed out
a $1500 spending limit AND refused to stop spending tells me that she
is not willing to respect her own financial limits. I'm not sure how
long a conservator will remain over her money; but if she regains control
and does not change her behavior she could be facing an inevitable bankruptcy.