5 child stars who survived financial meltdowns: from Britney Spears’ 13-year conservatorship to Lindsay Lohan’s rehab stint and Macaulay Culkin’s trust fund
- Before the global #FreeBritney movement, Macaulay Culkin and Jena Malone emancipated themselves from their parents to make sure they kept control of their cash
- Christy Carlson Romano said she ‘made and lost millions of dollars’ as a child actor, while Full House star Jodie Sweetin used to spend US$10,000 at a time on drugs
When you’re young, successful and famous, it might seem like your wealth will last forever. Sadly for these former child stars, they had to learn the hard way when it came to managing their finances.
Former teen heartthrob Aaron Carter filed for bankruptcy with over US$100,000 in debt
The one-time teen pop star spoke to US Weekly in 2016 about the financially “terrible position” he was in.
“When I turned 18, I got hit with all those taxes. I filed a chapter seven bankruptcy last year; now I’m already over US$100,000 in debt,” he said.
In an interview on the Oprah Winfrey Network that same year, Carter also said that he self-medicated with drugs and alcohol to treat his depression after his parents divorced in 2004.
“I couldn’t dwell on it,” he said. “I couldn’t think about it too much. I kind of had to block it out. I started partying and getting into a lot of trouble.”
After he “went broke” and his career stalled, Carter turned to drugs and alcohol. He eventually realised he needed help and checked into the Betty Ford Center.