Growing up in one of Hollywood’s richest families was no blessing for Tori Spelling, who now says she never learned to budget or save.
“It’s no mystery why I have money problems… I grew up rich beyond anyone’s dreams. I never knew anything else,” the daughter of Aaron Spelling said in her new book, Spelling It Like It Is. “Even when I try to embrace a simpler lifestyle I can’t seem to let go of my expensive tastes… And then there’s my shopping problem. I’ve bought ridiculous amounts of stuff for the kids, clothing, toys, crafts.”
Tori and her mother, Candy Spelling, infamously feuded over Aaron’s fortune after he died in 2006. Candy eventually won the bulk of the $60 million inheritance. Tori and husband Dean McDermott’s money problems were further exacerbated when they were forced to sell their home at a major loss in 2011. Then their latest show, Tori & Dean: Home Sweet Hollywood, wasn’t renewed by Oxygen.
“We don’t have a series on the air right now, so we have to be more restrictive of what we can spend, just like anyone who doesn’t currently have a steady job,” Tori explained.
Tori also revealed to People she and Dean recently got a dose of cold, hard reality: Their money manager said they couldn’t afford the vasectomy planned for Dean. (I’m no expert, but wouldn’t that be cheaper in the long run than having another child? #justsaying)
Since then, Tori’s been more diligent about saving and hopes to instill better budgeting practices with her four children.
“Stella was telling Hattie the other day, ‘That dress you’re wearing, it was my dress first.’ And Hattie’s like, ‘Yeah!’ It made me so happy. I love that they know we hand things down… We’re all about repurposing. It’s a really good value to have.