Tangible Living

This is going to be a nice little section of nice little scenarios based on situations that are found in the the news. I got this idea after reading an article about artists that are having some financial troubles. As I read this article I began to wonder what I would do if I were in their shoes. There is an article on MSNBC that points out several celebrities who were having a few problems with foreclosures and justifiably so. Some of the celebs that were named in the article include Wyclef Jean, Victoria Gotti, Damon Dash, and Jose Conseco. Victoria Gotti was behind on here mortgage by $650,000. Damon Dash was given a foreclosure notice when he was unable to pay his monthly mortgage of $78, 750 big ones. $78K is the salary that most Americans wish that they could make in one year. $78K would help many Americans begin to pay down their debts. The question is why do they need to be so extravagant?

So what would I do if I were a celebrity making a nice sum of money? I would go to a state where the real estate market was not so high. Find me a nice piece of land that I could build a modest home on. I would contract a builder to build my home and pay cash for it. There is no need to have such a high mortgage payment especially if people are paying interest only loans. I would pay to have a nice decked out camper that I can live in whenever I needed to shoot my next film, or work in studio that was far away from my residence. Now, when my career hits a few hard spots (most movie stars do), I would not have to worry about making any payments because I took care of myself when the money was rolling in. What a thought, starts who don’t live so exuberantly.