Here's why Kerry Katona went bankrupt
Friday, 22 August 2008
Kerry Katona yesterday became a victim of her own fame.
Self-obsessed with being singer, a TV celebrity and more recently a good mum to her four children following critical reports in the press, the former Atomic Kitten singer's reckless spending finally caught up with her.
Kerry felt the need to maintain her image as a showbiz personality required splashing out huge amounts on a luxury home, high-powered cars for husband Mark Croft and a generally lavish celebrity lifestyle.
That, coupled with the fact Kerry is fragile anyway - having recently been diagnosed with bipolar disorder - has led to reckless, obsessive overspending in comparison to the money she earns.
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Finance expert Jasmine Birtles backed up these sentiments, telling the Daily Mirror: "Kerry was a disaster waiting to happen.
"Economists always say that when it comes to being rich the amount you earn is far less important than the amount you spend.
"Clearly Kerry has got a problem with spending. However many millions you have, if you squander them all you'll get in trouble."
Kerry's big earns: £1,000,000 for autobiography, £750,000/year from Iceland, £250,000 for reality TV show appearances.
Kerry's big spends: £1,500,000 on luxury Wilmslow home; £500,000 on Lamborghini, Range Rover and Porsche super cars; £100,000 on lavish gifts for husband Mark
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