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.
