Celebrity | Antoine Walker What Broke Celebs Can Teach Us Don't make the same mistakes as Nicolas Cage and Annie Leibovitz By Evann Gastaldo Posted Nov 6, 2009 9:38 AM CST Copied Miami Heat forward Antoine Walker looks up at the scoreboard in the fourth quarter during a preseason basketball game against the Atlanta Hawks in Miami Wednesday, Oct. 10, 2007. (AP Photo/Lynne Sladky) Celebrities really are just like us: During these financially stressful times, they’re suffering, too. On Huffington Post, Manisha Thakor points out the takeaway from four high-profile meltdowns. NBA Player Antoine Walker: Squandered away his $110 million fortune by age 33. The lesson? If you have a variable income, don’t spend based on peak earnings—spend based on average earnings. Writer Patricia Cornwell: Suing her money management firm after losses of around $40 million. The lesson? Don’t hand over 100% of the control of your money to anyone—stay involved. Photographer Annie Leibovitz: Facing $24 million in debt and fighting to keep her home. The lesson? Don’t borrow against your home equity—or at all—if you can’t pay it back. Actor Nicolas Cage: Owes $6 million in back taxes. The lesson? Self-employed people should always remember to set aside money for taxes as soon as income is earned. Read These Next Trumps ends trade talks with Canada. Mid That 'buy now, pay later' loan may soon hit your credit score. Cops: Arizona 5th graders drew up plot to 'end' a classmate. Report an error