The Great Recession has seen people forced into bankruptcy because of lost jobs, crushed home values and the like, but not all people. Toni Braxton has filed bankruptcy and it isn’t the first time. 

Entertainers are not exactly known for the financial prowess. Fortunately, they tend to make enough money that they really don’t have to worry about it for a long time. Still, the bill comes due sooner or later and bankruptcy court often is where they end up. Most learn their lesson, but some just don’t. 

Toni Braxton is a famous R&B singer who has sold millions of records during her career. She lived the high life for a long time only to have the reaper come due in the form of a bankruptcy filing in 1998. Following that, it was thought she might get her act together and realize that money doesn’t grow on trees. Nope!

The singer has filed for bankruptcy again. The numbers are a dozy. She claims to have between one and ten million in assets while owing up to fifty million to creditors. That is a LOT of spending! Should you feel sorry for her in any way, let’s put an end to that. Her major creditors are listed in the bankruptcy filing as Neiman Marcus, American Express and Four Seasons Hotels. Yeah, it really sounds like she cut back!

What can we make of this? Well, there is certainly not many of us making this kind of money and spending it even faster. As such, there isn’t much of any lesson that can be drawn from it other than perhaps certain divas should be a bit more humble when it comes to their lifestyles!