“While Amanda was growing up her parents and lawyers controlled all of her money, they put it away in investments so that she would be able to have it when she got older,” a source close to the troubled star told RadarOnline.com.
“Amanda made a lot of money starting with Nickelodeon and then other TV shows and movies, but she lived like a regular girl when she was young. However, a few months ago she demanded that she have complete access to all of the money so she could spend it, not save it anymore.”
As RadarOnline.com previously reported, Amanda bragged that she has “Mary-Kate and Ashley Olsen money,” but in reality she is worth only about $5-6 million.
“Amanda knows she has a lot of money. Before she wasn't restricted from getting to it, but a lot of it was tied up in investments and banked for her future, but she insisted that she be able to use all of it as she sees fit and there is nothing anyone can do to stop her from spending it all.”
The 27-year-old has been wandering aimlessly around NYC, doing bizarre things like shaving half of her head and staying up all night tweeting, but the source said her spending habits are in a free-fall.
“Amanda can do whatever she wants for a while with all of her money but it isn¹t going to last forever if she spends the way she has been lately. She¹s rich but she could find herself in financial trouble pretty soon.”