This news report shows how celebrities are suffering in the credit crunch. Celebrities frequently have great financial opportunities in their careers. By looking at what happens to their finances, we can learn many things about money. We can certainly see that times are bad right now. We are in the eye of the financial storm.
I remember millionaire Duncan Bannatyne saying that now is bargain basement time, so buy, buy, buy, as everything is cheaper due to the economic crisis. Unfortunately, he likes to use bank loans a lot and the banks are now refusing to lend. Donald Trump is encountering similar problems. This further solidifies my belief that its best to use your own saved money to finance ventures.
The most memorable story for me, is about property millionaire Grant Bovey and his TV presenter wife Anthea Turner. About a year ago, Bovey claimed to be worth 100 million and on his way to being a billionaire. He famously stated: My business is doing fine, and I will sue anyone who says I am in financial difficulty. He is now down to his last 2 residential homes, and he is selling one to make ends meet.
The biggest problems for these celebrities appear to be: debt, inability to get bank financing (cash), lack of customer purchasing. Be modest and careful in your investing, because if it can happen to them, it can happen to you. The Richest Man in Babylon says: "a little caution is better than a great regret."
I remember millionaire Duncan Bannatyne saying that now is bargain basement time, so buy, buy, buy, as everything is cheaper due to the economic crisis. Unfortunately, he likes to use bank loans a lot and the banks are now refusing to lend. Donald Trump is encountering similar problems. This further solidifies my belief that its best to use your own saved money to finance ventures.
The most memorable story for me, is about property millionaire Grant Bovey and his TV presenter wife Anthea Turner. About a year ago, Bovey claimed to be worth 100 million and on his way to being a billionaire. He famously stated: My business is doing fine, and I will sue anyone who says I am in financial difficulty. He is now down to his last 2 residential homes, and he is selling one to make ends meet.
The biggest problems for these celebrities appear to be: debt, inability to get bank financing (cash), lack of customer purchasing. Be modest and careful in your investing, because if it can happen to them, it can happen to you. The Richest Man in Babylon says: "a little caution is better than a great regret."
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