okay, I'm gonna post this & I'm done....
The Real Houswives of Atlanta Really Are Broke
Posted by Alexis Stodghill on Aug 7th 2009
Popular women's site Jezebel has amassed in one place evidence that confirms what we always suspected. Most of the women appearing on 'The Real Housewives of Atlanta' are hardly the rich women they pretend to be. Far from being pampered princesses without a care, NeNe, Kim, Lisa and Sheree are plagued with financial, family and relationship problems just like everybody else. Perhaps this makes for great reality television, because if these ladies were truly elite, they might not be as fun to watch.
From a financial perspective, their mistakes in business, real estate and love provide money lessons on what NOT to do. NeNe's husband for instance, used his job to help friends with bad credit, rather than using his business prospects to build up his financial future. Now he is getting sued as a direct result. Kim made a bad financial investment in her house, which she now has to sell at a huge loss. She was also almost totally dependent on a wealthy boyfriend, until this show came along. And Lisa is being sued by ex-husband Keith Sweat for borrowing $150,000 to make a film that apparently never made a profit. Sheree's divorce and lack of a substantial settlement have been widely reported on. Now she seems to be struggling without the fiscal support of her former millionaire spouse.
What are the pecuniary lessons here?
1. Don't use your career to do favors, unless you think those favors can be substantially returned to you, especially for people who have demonstrated irresponsibility.
2. Don't buy a home unless you are pretty certain it will accrue in value, or you intend to pass it down as generational wealth. Buying a home in most markets is not a great *** term investment.
3. Don't be totally dependent on a spouse or lover for your financial well-being.
4. Don't borrow money for extremely risking investments, which includes films, albums, etc. Investors in these types of ventures need to understand that the risk of losing all their capital is high, so such monies are not loans. This type of funding is more akin to gambling. Lisa could not have made this clear to Keith, because he's still expecting his money back!
Hopefully, the tremendous success of the 'Real Housewives' series will create fresh finacial opportunities for all these women. It seems as though NeNe, Kim, Lisa and Sheree made relationship choices that left them totally dependent on their men. Perhaps this reliance prevented them from honing their own money management skills. But the public exposure of their difficulties, combined with the windfall of this show, may give 'The Real Housewives of Atlanta' both the opportunity and incentive to learn and grow.
I bet they can all become true divas of finance very soon by combining business initiative with sensible spending habits. I would rather be an independent diva than a pampered, clueless trophy wife any day.