Poor Tori’s living on handouts
Fritteringaway hermodest incomeona lavishlifestyle, ToriSpelling’s livingon handouts
Growing up with a silver spoon in her mouth as the heiress to a television mogul, the good life was handed to Tori Spelling on a plate. But after inheriting “just” $1.47 million from her famous father, TV and film producer Aaron, the bigspending blonde has struggled to curb her extravagant desires.
As the former BeverlyHills, 90210 star catapulted to fame, her relationship with her dad became strained. When he died in 2006, leaving her with a tiny fraction of his wealth, it was a rude awakening for Tori, who grew up in the $291 million Spelling Manor – which includes three rooms entirely dedicated to gift-wrapping, a bowling alley and a screening room!
But the 45-year-old’s late father and his wife Candy knew that their daughter was too financially irresponsible to receive more.
“She would close a store and drop up to $87,000,” her mum spills. “I never did anything like that. She just went crazy.”
Now Tori’s lavish lifestyle has taken its toll and she’s left herself in the red big-time, being chased for over $176,000 in credit-card debts.
The mother-of-five attributes her monetary battles to not being able to adjust to life on a budget.
“It’s no mystery why I have money problems,” the actress admits. “I grew up rich beyond anyone’s wildest dreams. I never knew anything else. Even when I try to embrace a simpler lifestyle, I can’t seem to let go of my expensive tastes.”
Tori and her actor husband Dean McDermott, 52, relocated home eight times in six years. Once they moved so quickly that Tori owed $14,700 in rent to her landlord. Recently, they have been renting a $19,000-a-month house that is paid for by Tori’s mum.
The couple have been married for 12 years and have children Liam, 11, Stella, 10, Hattie, seven, Finn, six, and Beau, who turns two in March.
Candy confirms she forks out for the family’s food and her grandkids’ schooling, which mounts up to about $290,000 a year.
And to date, Tori reportedly owes California’s Franchise Tax Board more than $655,000, plus a further $800,000 to a US bank. But it’s nothing new for the actress and her husband, who at one point had their bank account drained of $1.47 million they owed in back taxes.
With Candy, 73, covering the essentials, the big bills are down to Tori’s excessive frittering of cash, which over the years has included an $11,500 birthday party for her eldest daughter Stella.
Like Tori, her husband also has
a penchant for the finer things in life, driving a $100,000 Ducati.
“One thing that Tori and Dean have in common is that they love to spend money,” spills a source close to the couple. “They take a lot of family vacations and upgrade to a fancier room.
“Tori also spends a fortune on her appearance, from cosmetic surgery to regular hair appointments and clothes. She splurges without thinking.”
Backtoreality
After frittering away the money she did have, the star is now thought to be worth only $1 million. In her reality TV heyday, she earned $100,000 an episode for her series True Tori, which documented her marriage following the aftermath of Dean’s affair and rehab stint.
But she could have been making the big bucks if her career had taken off in the same manner as former BeverlyHills co-star Shannen Doherty, 47, who is now worth an estimated $20 million.
Right now, though, Tori’s hoping a recent stint on hit TV show TheMaskedSinger and a potential 90210 reunion will turn her life around once and for all, but until then, the spendthrift has resorted to garage sales and Instagram endorsements, promoting everything from cleaning products to weight-loss tea to try to reverse her crippling debt.
“Tori’s never been good with money,” reveals our insider. “She’ll do whatever she can to try to recapture her glory days and all the luxury that came with it. Even after all these years, she’s just not cut out for the simple life!”