Poor little rich girl.
How do you come from money, but you’re broke?
According to Radar Online:
Raised in the lap of luxury as the daughter to TV mogul Aaron Spelling, Tori Spelling had a childhood that most kids would dream of. Now, her own children, Liam, 6, Stella, 5, Hattie, 2, and Finn, 1, are living a reality that’s miles away from that pampered, worry-free existence, since Spelling has frittered away her savings and found herself, she admits, in “financial ruin.” The reality TV star describes how she fell so far, so fast, in her new unflinching memoir, Spelling It Like It Is.
Money first started to bleed out of Spelling and husband Dean McDermott‘s accounts when she decided to move the family from Encino, Calif., to Malibu on a whim in the fall of 2012. But less than a year later, she wanted out again, and put the Malibu home on the market.
But even as her finances dwindled, Spelling kept living the high-life, renting a “spacious and grand” 9,000 sq. foot home in Westlake Village with a pool, movie theater, “columns throughout the house, a huge chandelier, leaded glass windows, and cold stone floors mixed in with the nice hardwood.” Spelling admits, “We couldn’t afford to buy a house. Yet now we were living a lie in a grand house.”
Before long, however, things got even more complicated when Spelling was hospitalized with a dangerous condition, placenta previa, during her pregnancy with son Finn. Doctors told her she needed to stay closer to the hospital, so her mom, Candy Spelling, broke out the checkbook to help her pay rent on yet another home they couldn’t afford.
“Once I was Googling myself to find an article I’d heard was published,” she writes. “I typed ‘tori spelling’ into the search field and a bunch of options came up. One of them was “tori spelling net worth.” Curious, I clicked on it. Google thought I was worth fifteen million dollars. Fifteen million dollars! I didn’t have one million. We had some income here and there, but no savings apart from our retirement accounts.”
Explaining that she has a “terrible habit of going into denial” about financial matters, Spelling was forced to confront the severity of her situation . But instead of cutting back, she continued to spend big.
Spelling says, “It’s not my fault I’m an uptown girl stuck in a midtown life. I was raised in opulence. My standards are ridiculously high. We can’t afford that lifestyle, but when you grow up silver spoon it’s hard to go plastic.”
“I can’t afford to live like this anymore,” she admits. “Our circumstances have changed. In between the moves, the store, spending a year in and out of the hospital, and Tori & Dean being canceled, our bank account has taken a major hit.”
“It’s gotten so bad,” she writes, “that our money manager is involved in every decision we make.” The manager even recently vetoed Dean’s plan to get a vasectomy, as RadarOnline.com has reported.
Somebody needs money management skills.