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You may know him as the rapper who once bragged about getting rich or dying tryin', but 50 Cent's financial troubles suggest he may have been better off picking the latter. Despite claiming to be worth over $150 million, 50 Cent filed for bankruptcy in 2015 after losing a $7 million lawsuit. Hey, at least he can still afford his stage name!
Nicolas Cage may be an Oscar-winning actor, but his financial decisions are far from award-winning. The eccentric star has reportedly spent his fortune on everything from a private island to a dinosaur skull (yes, you read that right).
After racking up millions in debt, Cage was forced to sell his extensive comic book collection and a castle in Germany.
Floyd Mayweather is known for his flashy lifestyle and love of all things expensive, but his spending habits have landed him in serious debt. Despite earning over $1 billion throughout his career, Mayweather has faced legal action for unpaid taxes and reportedly owes the IRS over $22 million. Maybe he should've saved some of that money instead of throwing it around in the ring.
Boxing legend Mike Tyson may have been a heavyweight champion in the ring, but his finances were a different story. After declaring bankruptcy in 2003, Tyson sold off his lavish mansions and even his championship belts. He's since bounced back with a successful podcast and acting career, but we're sure his bank account still feels the punches.
Actor Stephen Baldwin may not have the same level of fame as some of his A-list counterparts, but that didn't stop him from getting in over his head with debt. After failing to pay taxes for several years, Baldwin was arrested and forced to sell his home in New York. Looks like not even being a Baldwin brother can save you from the IRS.
It's easy to assume that these famous people simply didn't make enough money, but the truth is that debt is typically a spending problem, not an income problem. No matter how much money you make, if you're not budgeting and spending wisely, you could find yourself in over your head. In conclusion, fame and fortune may seem like a dream come true, but as these celebs have shown us, it can all come crashing down in a matter of seconds dependent on your behaviors.
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Having a less-than-perfect credit score can make it challenging to access credit and financial opportunities. However, it's important to know that all hope is not lost. Many financial institutions and credit providers offer credit options for individuals with bad credit, and with some strategic steps, you can improve your financial situation.
Do you feel like your bills always manage to be due before you get paid your bi-weekly? I bet this causes a lot of annoyance - now, there are lots of earned wage access apps, like Earnin and Moneylion, that help you get your money early. But what if you could sync up your bills with your paydays? When your payments line up with your income, you dodge those pesky late fees, slash those interest charges, and make your financial journey a whole lot smoother. So, stick around, and we'll show you the ropes on how to make it happen!