She really is a poor little rich girl!
Tori Spelling recently revealed that she and hubby Dean McDermott are broke -- at least by Hollywood standards. According to People magazine, in her new memoir the former "Beverly Hills 90210" star revealed, "I haven't bought a purse in three years. And it's fine. I look back on that girl who shopped at Gucci in my 20s, and I can't even relate. I can't believe I thought it was important."
Passing on a purse is one thing, but what about an important procedure? The couple's business manager reportedly put the kibosh on Dean's vasectomy plans, despite the fact that they already have five kids (Liam, 6, Stella, 5, Hattie, 2, Finn, 14 months, and Jack, 15, Dean's son from a previous marriage), with Tori's last pregnancy nearly costing her her life.
Tori's taking the blame for her current financial woes: "I was raised in opulence. My standards are ridiculously high," she said. "We can't afford that lifestyle, but when you grow up with a silver spoon it's hard to go plastic…Even when I try to embrace a simpler lifestyle, I can't seem to let go of my expensive tastes. And then there's my shopping problem. I've bought ridiculous amounts of stuff for the kids, clothing, toys, crafts."
She also dished that since her reality show was canceled last year (another one, "Tori & Dean: Cabin Fever" is in the works), her family is just like any other family that doesn't have a steady income: "We have to be more restrictive of what we can spend, just like anyone who doesn't currently have a steady job," she said.
But the actress-turned-entrepreneur's financial situation isn't exactly a new story.
According to ABC News, Tori previously said her money problems actually started back when "90210" went off the air in 2000. At one point she owed hundreds of thousands of dollars in credit card debt and nearly filed bankruptcy.
"Bad shopping habits die hard," she said. "In all honesty, I grew up a certain way. I never had to worry about money … that was my reality. I turned into my dad's daughter and I started thinking of things to do, ways to make money."
She needed to. Despite her late father's massive wealth, she inherited just $800,000 after he passed away in 2007. Since then, fans who've been following Tori's career know that she has indeed tried to make a buck in a variety of ways -- from reality TV shows to inn keeping to wedding planning to book writing (her latest "Spelling It Like It Is" was just published) to jewelry and children clothing lines to running a boutique. Heck, she even attempted to launch a French fry business.
On a 2008 episode of the Oxygen reality show "Tori & Dean: Home Sweet Hollywood," Tori and Dean's house hunting expedition gave viewers an inside peek into their financial situation. When Tori found her dream home -- complete with mahogany floors and his and her master bathrooms -- she plotted to show it to Dean without telling him the price, hoping that he'd fall so in love with it that he'd overlook the fact that it was way out of their price range. But Dean had to tell his once-privileged wife: "We just can't afford it." They sprung for another house (and have moved a couple of times since), and now Tori's revealing that their last real estate sale lost them nearly a million dollars.
In her new book she admits: "My real estate compulsion put us in serious debt. You heard of those people who flip houses to make money? We were the opposite: flippers who lost major sums of money on every transaction. My restlessness would be our financial ruin."
In 2009, Tori's mom, Candy Spelling, told OK Magazine that her daughter's spending was out of control: "Everyone is complaining that they don't have any money now, and here Tori is doing these grand parties," Candy said. "She even rented a house for Stella's party."
But in 2010, Tori told Forbes she had no guidance from her parents when it came to money: "I had a very luxurious life, a life of wealth," she said. "Unfortunately, my parents really didn't discuss money with us. We weren't taught how to handle money. So when I started to make my own money on '90210,' I didn't know about savings, I didn't know about investments. I had to learn the hard way. I had to go from having everything, to making it on my own, to losing everything, and then having to rebuild again the right way, but the smart way."
Of course, maybe if she cuts back on the impulse purchases it would help. While she states in her new book that her money manager is involved in every financial decision she makes, Tori also wrote: "Yesterday I went into a gas station to get the kids water and I dropped fifty dollars on some DVDs (they were on sale!), chips, and lottery tickets (because winning the Powerball jackpot might be my only hope)."
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