April 17, 2010

Bankrupt Nicolas Cage is selling off exotic possessions at rock bottom prices

Posted in Uncategorized tagged , , , , , , , , , , at 5:30 pm by bowmansmoneycollege

Looking to save $25 million? Nicolas Cage, star of the 1996 movie “The Rock” is now selling luxury real estate at rock bottom prices! This past week was his real estate auction. It made the news because 1) he is forced to sell due to his current financial situation and 2) his Bel-Air Tudor mansion originally cost $35 million, but he was hoping to sell it for at least $10 million.

We didn’t see anyone making offers, but we did learn a lot more about Cage’s spending habits. It turns out that instead of combining coupons with sales at Target and CVS, Cage was out buying exotic possessions, such as islands, a number of mansions, boats, a jet, a Lamborghini, actual shrunken heads, the skull of a dinosaur, and an octopus. The list of outlandish items goes on and on.

Cage has already filed for bankruptcy. However, remember that bankruptcy doesn’t include taxes unless certain criteria are met! It was also noted that with all the time spent buying things Cage didn’t have time to pay his taxes. The IRS is demanding over $6 million in back tax from 2007, and other sources are saying he still owes up to a total of $14 million in tax.

What can we learn from Cage’s over the top spending habits? Some people overindulge in buying things for the same reasons others gamble, drink, chase women, or take drugs. Something is missing in their lives and they are looking for a way to fill that hole. The problem is that these quick fixes actually widen the hole and create even more dissatisfaction and distraction in your life.

What is missing in Cage’s life? He didn’t just fill his life with nice clothes and furniture; these things were sometimes on the outlandish side such as the 2 vintage Rolls Royce vehicles he leased for about $11,000.00 a month. Do you think Cage is still enjoying the initial thrill of making luxury purchases?

Why not find positive, life enhancing things to create fulfillment in life? We are all human and will be faced with challenges that take an emotional toll on us. Sometimes the need for a release opens us up to poor choices, like spending ourselves into bankruptcy. If you need a sense of fulfillment or satisfaction in your life why not look for the opposite of negative behaviors like over spending? My favorite is aggressively finding incredible deals that save money instead of just spending money on the things I want and need.

Balance is key, but as humans we are drawn to extremes sometimes. If you have to zealously do something, do something that builds quality in your life.  Bowman’s Money College



  1. jessica said,

    I honestly feel sorry for mr cage, and the others that have far to much money. I am 49 years year old and live on less then 800 a month. I attend Kaplan college to get my BA in criminal justice. I can honestly say that if I was ever blessed to have 5,000 at one time. It would last me for at least a few months. Hell I made 3,000 that I recieve as a student refund check last me a very long time. And then 375.00 lasted longer then two months. I have no diamons, never have, never will own them. All I need is food, a home, my family, my pets and GOD. Personally, if I were to ever become wealthy before I die, I would find those people that need a helping hand and begin handing out money so that they could have a home to call their own. I would give a lot to the places that help all animals and I would make sure all my taxes were up to date. Jeeze, just think of what a star would do if they were to live a normal life. LOl, they would not be able to do it. Come on, I dare any star to live on 500- 800 for a month.They would freak out. I could show them how to buy only what is needed, and to ignore the I want bull shit.

  2. jessica said,

    Allow me to continue this by saying, if I had the chance to teach a overly spoiled star how to manager their money, they would hate me. I would get rid of their furs, their diamonds, their millon dollar cars, their maids, house keepers,. And I would show them how to go buy food that would last a month at a time and would cost less then 400.00. This would mean of course, there would be no parties, no drugs of any kind, no drinking( maybe a six pack of beer a week)
    The spoiled an pampered stars would have to forget that they have the world at their finger tips. And Mr Cage, those homes you own, they can all be gave away. Now here I would say that the homes should go to a low income family, but that would be impossible, because the bills on that home is far to much. So lets sell those homes and give all the money, every penny of it to a few people that deserve a helping hand.
    I am very low income, but I am also very happy. I have real friends, that care and love each other. I have a real family that loves me for who I am, not for what I might be able to give them. I have God, and I have my pets. Do I worry about where my money will come from so that I can eat? Nope because I have money sat aside, And I work ,real work, Not acting, or modelingm or singing, I work in the real world.
    Come on, let me show any one of you over indulged stars how to tone down on the spending. I can get all of you out of debt. But I bet your all to chicken to try

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