15 Costly Celebrity Money Mistakes

articles.latimes.com
articles.latimes.com

12. Not living within your means

If you buy something while going beyond your means, you will have to suffer for it, like Kristen Bell did. In early 2012, the House of Lies actress’s Los Angeles property of 2.5 acres went into foreclosure and was reportedly auctioned off for $500,000 less than the amount she had bought it for. While she may have lots of cash these days, but a foreclosure leaves an indelible mark on your credit report, which can cause problems when applying for future loans. Indeed, according to FICO, a foreclosure remains for seven years on your credit report. So, be more careful, particularly if you have a fluctuating income as an entrepreneur, freelancer, or, like in this case, a Hollywood actress.

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