Britney Spears in 'mountain of debts' as singer kept squandering millions despite serious income crunch
LOS ANGELES, CALIFORNIA: Britney Spears has complete control over her finances following her release from her father's rigorous conservatorship; nonetheless, an insider claims that this has resulted in many extravagant purchases.
The source said, "Britney was warned a few months ago that she was running into the red, but she didn’t change anything and kept on blowing her cash and now it’s happened. She’s got a mountain of debts and no money coming in," as reported by OK Magazine.
The singer's last tour was in 2018, so the majority of her wealth comes from earlier years. Over the previous two years, she has, nevertheless, released a couple of songs, including a successful collaboration with Elton John.
'The Woman in Me' brought Spears millions
The debut of her memoir 'The Woman in Me' last month has brought Spears millions more in wealth this year.
The source revealed that the blonde beauty has already spent the $12 million advance she received for her work. Despite the book making it to the renowned Best Seller list of the New York Times, it was stated that the net profits "won’t be enough to cover the deficit."
The insider explained, "It's not all Britney’s fault given all the people who’ve leeched off her and continue to do so."
Britney Spears was never 'formally educated about money'
The insider added, "But the problem is she doesn’t know how things add up. She was never formally educated about money and how it works, and now she’s paying a terrible emotional and financial price!"
Having said that, the 'Toxic' singer stated last month that she is already writing a second memoir, which she hopes to publish in 2024.
As her first book was finished before her husband, Sam Asghari, filed for divorce in August, Spears intends to share the details of their breakup in the follow-up.
A separate source clarified, "Britney’s not looking to go after Sam. She just wants [to talk about] why the relationship broke down."
More revelations in store for Justin Timberlake
Before Asghari decided to dissolve their union, the two had only been wed for 14 months. The pop star will also reveal more shocking information about her relationship with her ex-boyfriend Justin Timberlake, much to the father of two's dismay as a result of the revelations Spears made about him in her memoir.
She dated the 42-year-old from 1999 to 2002, and according to a source, "could easily have filled four or five books the first time around" with stories about him.
The claim made by Spears that Timberlake urged her to get an abortion when she found out she was expecting his child was one of the most talked-about details.
She wrote, “I loved Justin so much. I always expected us to have a family together one day. This would just be much earlier than I’d anticipated. But Justin definitely wasn’t happy about the pregnancy. He said we weren’t ready to have a baby in our lives, that we were way too young.”
She added, “I’m sure people will hate me for this, but I agreed not to have the baby. I don’t know if that was the right decision. If it had been left up to me alone, I never would have done it. And yet Justin was so sure that he didn’t want to be a father.”
