10 celebs who live bigger lifestyles than they can afford (With Pictures)

7. Toni Braxton

We know what you are thinking — “How can a legendary singer like Toni Braxton go broke?” Well, the answer is pretty easy. When you don’t have the right music management behind you at the peak of your career, you are bound to lose it all as quick as it came. With Toni, who has sold over 25 million records worldwide, she experienced bankruptcy three times in her life; bad investments, bad spending habits and loss of earnings for her illness with Lupus. Still, if you are going to file for bankruptcy a second time, you should at least consider changing your spending habits and your team.