Lindsay Lohan
Lindsay Lohan's financial woes continue
. After selling her body as an escort and living the high life for a couple weeks, actress Lindsay Lohan has crashed back down to earth once again, after moving back in with her mom and their $1,300,000 Merrick, Long Island (New York) family home being placed in foreclosure.
Sorry, I have no pity for Lohan in this manner. I've helped people with financial problems, in assisting them with navigating through the legal system and negotiating with banks to save their homes, but these were hardworking everyday folks doing what they were supposed to, but due to the economy, saw their salaries decrease.
Lohan, however, is a spoiled actress with entitlement issues that blows every dime she gets. Several months ago she was given $300,000 to star in the television film "Liz & Dick." But rather than buy a sensible condo in Los Angeles for $200,000, she opted to blow the money living the high life in a Beverly Hills rental home and at the Château Marmont hotel, where suites run from several hundred to thousands of dollars per night. You're not Bill Gates. Living at the Château Marmont was not a good idea for you.
Not to mention, when the IRS saw her living it up at the Château Marmont and driving around in a $100,000 Porsche (albeit a rented one she wrecked) and not paying her taxes, they froze her bank accounts. This led to her having sex with fellow cocaine addict Charlie Sheen, who gave her $100,000 to help reduce her $250,000 tax bill.
Lindsay Lohan's family home is in foreclosure
In December, Lohan became an escort to a rich Arab man, who paid her $75,000 for her, um, escort services for New Years Eve. He allowed her to stay at his family's hotel for two additional weeks with her drug addled mom, before giving her the boot.
Now Lindsay's back home with her mom. However, that security was short-lived, as she and mom, Dina have been foreclosed on by the bank, who seek to seize her childhood home.
There's a lesson to be learned in her story. I keep writing about it and while some listen, some don't believing they have everything under control. When you receive a check, learn to save some of your money, as you never know what could happen. Don't blow it all living the high life, expecting the money will always pour in. Not to mention, that same high life some are living is destroying their name to the public and in the business world.
Getting drunk and or high and or being sexually ambiguous or promiscuous will destroy many potential endorsement deals and sponsorships, as product makers and services never know what said celebrity will say or do and the impact it could potentially have on their products.
They don't know how to brand someone engaging in said behavior and avoid celebrities attached to it. That wild behavior won't seem like fun when you're saddled with addictions, can't pay your rent or mortgage and lost several hundred thousand to millions of dollars in the long run in work and endorsements, simply because you were cutting loose in public. You need to stop. You're hurting yourself.
Furthermore, to opt for living in a hotel for weeks and months, rather than using that same money to buy even a small condo, is not a good idea. Spending your money on flash cars and clothes, then not being able to pay for where you live is also a bad idea. There's nothing wrong with buying small. There's nothing wrong with getting a one bedroom house or condo. Trying to keep up appearances in a massive mansion or mega hotel suite you can't afford in the long run, will bankrupt you.
