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Bad news for Tionne “T-Boz” Watkins of one of our favorite girl groups, TLC. According to TMZ, T-Boz filed for bankruptcy after amassing $768,642.99 in debt.

The bulk of the debt is reportedly from the mortgage on her $1.2 million house.  And the singer says she could have avoided bankruptcy all together had her deadbeat ex-husband, rapper Mack-10, paid the $250,000 he owes in back child support.

Although she’s surrounded by excess, apparently, T-Boz isn’t a big spender. According to court documents she takes in $11,700 a month (just $1200 per month in royalties), but has just $8,821 in expenses.

Despite her successes, life hasn’t been all gravy for T-Boz. She has battled Sickle Cell, a painful blood disorder, for her entire life and has had other health challenges, including a brain tumor. And this isn’t the first time she’s had financial woes. Back when she was topping the charts with TLC, the group also filed for bankruptcy, claiming they didn’t receive a fair share of the profits from their multi-platinum album CrazySexyCool.

Seeing stars go through financial woes is just another reminder of why everyone–especially women–needs to take care of our money. Spending beyond our means, not building a savings account, and trying to help everyone else is a recipe for financial disaster.

Ladies…as we think of who to shop for this holiday season, remember to put yourself first. If you can’t afford it, don’t buy it. If they love you, they’ll understand.

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  • Financial literacy in schools, as well as at community forums in urban epicenters would be very beneficial – it’s very long overdue!

  • ohsonattral

    Clearly she didn’t learn a thing the first time. She’s living in a $1.2 million dollar home buy only bringing in $140K a year (before taxes). I’m no math wiz *scratches head* but that’s the classic example of living beyond your means. Pretty sad.

  • Mimi

    Could not agree more Nikki. It’s something that is DESPERATELY needed in all schools IMO. Not to kick someone when they’re down, but I recall watching her talk about how her daughter has closets and closets full of new clothes that still have the tags on them and how she’s outgrown clothes that she’s never even worn before. Now I got no problem with anyone spoiling their child, but if you’re buying “closets and closets” of clothes and not keeping up on the taxes on your house, how much sense does that make? Where are you gonna put those “closets and closets” full of clothes if you don’t have a closet?

    P.S. I really hope she wasn’t depending on Mack-10 for any kind of financial support. How many decades has it been since he had a hit record?

    • Perverted Alchemist

      Arund the same amount of time that she’s had a hit record, LOL!!

      In all seriousness, when you are a musician and you have persistent health problems as T-Boz did, it interferes with your music career and eventually your money. Just about all of the recording artists past and present DO NOT have health insurance. Sadly, a lot of them don’t think they need it or think their heath will go on the decline one day.

  • Yeah she is definitely stretching outside her means, and child support should not be budgeted as part of your income for reasons just like this one.

  • Cree

    I like this article, especially the last line. I am not decorating for Christmas. Just one of those things you really don’t HAVE to do and the money you save could go somewhere better.

    I don’t understand these celebrities who are not balling out of control buying million dollar mansions. Why not get a nice, respectable home that is well maintained? Why do you have to buy THE MOST expensive car/house you can manage? Ever heard of the term “wiggle-room”?

    *Now, I don’t know about T-Boz’s situation other than what is posted here. I am just speaking in general.