Broke Tori Spelling Admits She’s ‘Not Great With Money’ Amid Debt Crisis
Tori Spelling finally admitted what fans have been thinking all along: finances are not her strong suit.
On the latest episode of Tori Tried and True, the Beverly Hills, 90210 star got candid about her ongoing cash issues, telling fans, “I am not great with money, and I know a lot of people read a lot of stuff about my financial things going on.”
“I had a business manager since I was 18 years old, so I never handled any of my money. Everything, everything, went to them, so unfortunately, I never quite learned about money,” Spelling, 46, continued. “Now raising kids of my own, I’m like, that is so important.”
As RadarOnline.com previously reported, the actress — who has five kids with husband Dean McDermott — is knee-deep in debt.
American Express Bank sued her and her hubby back in January 2016 for failing to pay their credit card bills. Then, in October of that year, they were ordered to pay back $87,594.55. Three years later, in August 2019, American Express Bank filed a Writ of Execution asking the Sheriff or Marshal of the County of Los Angeles to enforce the $88,391.25 judgment the stars owed.
The actors were also sued by City National bank for failing to pay back a $400,000 loan. In 2017, the bank was awarded a judgment of $202,066, but later claimed the stars never paid. Spelling and McDermott, 53, failed to appear in court to resolve the case, after which a bench warrant was issued. The warrant was dissolved in April after Spelling agreed to provide documents during a meeting with her attorneys. Still, Spelling and her hubby owe $1,182,760 in federal and state taxes.
“And because I’ve never been good with money, I wasn’t ever taught to deal with money properly, that’s something that’s really important for me to do as I’m learning myself now in my 40s,” Spelling continued in her YouTube video. “I really want my kids to know that before they move out on their own.”
Another thing Spelling confessed to not being good at is laundry. “It’s so true,” she said. “And I’m only admitting that because my husband is really great at doing laundry. He’s so domestic. His mom taught him how to cook, do laundry and clean.”
The star revealed she didn’t learn how to do her laundry until recently, and only because McDermott was not around. “While I was in Vancouver filming BH90210, I wasn’t with my family, so I had to do my own laundry,” she said. “And actually, Stella came to visit me and she taught me how to do laundry,” Spelling added, speaking of her 11-year-old daughter. “I fell in love with it and became obsessed with it.”
While Spelling seemed to be in good spirits while talking about her financial troubles on her YouTube channel, readers know she recently lost her much-needed BH90210 income when the show was not picked up for a second season. During filming, Spelling made $70,000 per episode and pocketed an additional $15,000 per episode for co-creating the series.
Now, RadarOnline.com has exclusively learned the cash-strapped star is begging for a role on The Real Housewives! “She is freaking out because the 90210 show was her moneymaker,” a source said, adding that Spelling is preparing to call Bravo host Andy Cohen to ask him to give her a shot. “She thinks now is the time … Except she is delusional because she doesn’t have enough money to be a Housewife!