Flash car, boob job, shopping... spending like a WAG made me bankrupt TWICE - The Sun
Women who've gone bust
trying to live like celebs
MILLIONS of women dream of living like a WAG but life can become a nightmare for those who splash the cash.
An epidemic of overspending among women has been called the "Kerry Katona Effect" after the reality TV star went bankrupt due to her lavish lifestyle.
In just three months this year, 14,827 women were declared bankrupt and they now account for a record level of 48 per cent of personal insolvencies.
Finance expert Mike Thomas founder of debtwizard.com says: "More women than ever are influenced by soaps, celebrity programmes, WAGs and the stars they see in magazines. I am helping more and younger women who have got into trouble through designer handbags, outfits and shoes. As our celebrity culture continues, it will get worse."
Here, AMANDA CABLE talks to three women who went bankrupt.
Aimee, 35
AIMEE ROBINSON lives in Bexhill, East Sussex, with builder husband Marc, 37, and son Harry, 15. She has been bankrupt twice in 1999 and 2006. She says:
"When I look back at my celebrity obsession now, it was horrific. I loved the WAG lifestyle and Cheryl Cole in particular. That was exactly the way I wanted to live.
"When I went out, I ordered Krug champagne for 150 a bottle because that is what the stars drink.
"Even though the outfits I bought were expensive, I only wore them once. I read all the magazines to see what they were wearing and spent 800 on Dior handbags and 500 on Jimmy Choo shoes.
"My car had to look like one a celeb would drive so I bought a Mercedes SLK sports car and paid an extra 3,000 to have the dashboard encrusted with Swarovski diamonds.
"When Jessica Simpson was pictured with her Bichon Frise dog, I decided I had to have exactly the same dog. I bought a puppy for 500... and flew to America to buy her a designer outfit.
"I paid 1,000 every few months for hair extensions, had my teeth whitened, spent 1,000 on botox, 2,000 on lip injections and had a 10,000 breast enlargement, going from a 34A to a 34DD.
"At the time of my first bankruptcy I was a single mother, working as a beautician. I maxed up my credit cards and store cards until I couldn't pay any more. I was 20,000 in debt.
"The second time I had 30 credit and store cards and debts of 85,000. I'm glad I learned my lesson, but millions more young women are going to fall into the same trap."
Tracy, 32
FACTORY production officer Tracy McCabe went bankrupt in 2007, aged just 27, owing 60,000. She lives in Coventry with glazer husband Steve and their four-year-old daughter Libby. She says:
"I have always loved celebrities like Kerry Katona and Katie Price. I resented the fact I couldn't afford to live like they did so I decided to let my credit cards pay for it.
"The celebrities took taxis, so I took taxis everywhere. When my friend was upset, I even sent a bottle of wine around in a taxi. And if I put on a dinner party for pals, I served them the very best fillet steak.
"Shopping was a buzz and buying designer outfits gave me such a lift.
"Looking back, it seems madness but spending was so easy. I had my first store card aged 18 a New Look card with a 300 balance on it.
"In my early twenties the bank offered me a 19,000 loan. It was like all my Christmases had come at once. By the time I met Steve in 2007, I earned 1,000 a month yet had to pay 900 a month back in debts.
"I fell pregnant and realised I couldn't bear to bring a baby into the world with all the debt and worry. The Citizens Advice Bureau advised me to go bankrupt.
"The worst thing was telling my mum and nanna. They had never used credit cards and had raised me to earn money and spend it wisely. Their shock and disappointment was awful.
"Steve supported my decision to go bankrupt. Standing in front of the judge, hearing him tell me off for how I'd spent was the worst moment of my life. The tears poured down my face.
"When I was declared bankrupt I owed 60,000 amassed through four store cards, two credit cards and a loan. A house I owned jointly with a former boyfriend was repossessed.
"My daughter was born 13 weeks prematurely and I'm sure it was a result of the stress.
"But the bankruptcy changed my ways. Steve and I married and I take buses and walk everywhere."
Annaliese, 28
ANNALIESE Branston runs an events and management company in Southampton. Annaliese, who lives with her boyfriend, was made bankrupt in July 2005 at the age of 23.
"At the age of 21, I had launched my own magazine and was in constant meetings, selling advertising. In the evenings, I would go out with clients.
"It was the constant pressure to look good and wear new outfits every day that proved my undoing.
"I loved looking through celebrity magazines to see what people were wearing and I remember being desperate for a pair of Louboutins because they were the in thing.
"If I went out in the evenings, I would have to buy a new outfit. I had seven credit cards, with different amounts on each which I was forever juggling.
"If I really wanted something, I used to say: 'I'll pay a little in cash then put half on this card and split the rest on this other card."
"If I had absolutely no money in the bank, I'd simply write a cheque to get what I wanted.
"I knew I was getting into debt but I pushed the worry to the back of my mind and thought I'd deal with it later. It was only when I moved in with my boyfriend that I realised I had to do something. It meant my name was on the electoral roll and I knew that bills would start arriving on his doorstep.
"I went to the Citizens Advice Bureau and to my horror they told me I owed creditors over 27,000 and that they could start taking possessions out of the house to pay back my debt.
"I was horrified. I realised that, at 23, I owned nothing but clothes, shoes and handbags and I was moving in with someone who didn't have a clue about my problems.
"I was terrified and I broke down in tears. Eventually the office shut and I was left crying outside. I got into my car and the petrol gauge was on red but I had no money for petrol. I'd never felt so low.
"My bankruptcy was announced in the local paper standard practice for all bankruptcies. My poor nan was devastated.
"She thought I had brought shame on the family. I felt a failure but I was relieved at having the chance for a fresh start.
"Now I don't own a store card and I'm not in debt. And I realise there's no need to keep up with celebrities."
Please note, the opinions expressed below are those of the writers and do not necessarily reflect those of The Sun. The Sun accepts no responsibility legal or otherwise for the accuracy or content of member.
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