14. Landing up in debts
Toni Braxton ended up in huge debts and twice filed for bankruptcy. The Grammy Award winner landed up in a financial crisis due to her appetite for extravagance, spending someone else’s money, and perhaps some bad luck. While the R&B singer is making a financial comeback now, in the past she has gone through cataclysmic problems with debt and overspending. She filed for bankruptcy twice in 1998 and 2010. One was because she lavishly lived off on her advance money and the other was due to a major medical diagnosis. This teaches us two lessons – your life can collapse anytime if you are living on credit and if you do not have adequate medical coverage, your medical problems can obliterate your financial life.