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Former Disney star Christy Carlson Romano explains how she ultimately lost all the money she made when she was a child.
Former Disney child star Christy Carlson Romano, star of the Disney Channel sitcom, Even Stevens (with a young Shia LaBeouf) and the Disney animated series, Kim possible, explained in a recent video on her YouTube channel how she effectively lost all the millions she had earned as a child performer.
Carlson Romano explained that she wanted her experiences to serve as a lesson for other young artists to always understand the value of money as it can be difficult when you are so young and have so much available to you.
Romano explained that growing up her family had money problems, and when she started working as a child actress, much of her money was spent on paying the family mortgage and other bills, but Romano also explains the downsides of California’s child protection laws. . Dubbed the Coogan Law, after legendary child actor Jackie Coogan, whose mother stole all the money he made as one of Hollywood’s biggest stars, the law sets aside a percentage of all the money a child actor earns in a trust fund that only they can access when they come of age.
Romano, however, explains that “becoming an adult” has a very different meaning when you’re still in the middle of a celebrity lifestyle, even after breaking up with her family for a year because she felt they were managing. wrong his money. . She explained, “So I had this money at my disposal. I was never told how much money I was making. Money had no purpose for me, I didn’t really know what it was. I just knew I had it and I didn’t care. It is a problem.”
Initially, she used her Coogan money to pay for her education, but then gave up after a year and a half and she did not spend her money on a house or any other property that would appreciate over time. Instead, she spent her money on items that ofprized in value, as a luxury car and even a lot of money for a midrange.
She noted that she was given a recording contract at the age of 21 and all in all she made a million dollars that year … and spent a million dollars that year. .
She says she always sees articles online that say she has a net worth of $ 3 million and laughs as she explains, “I’m not a millionaire in any way, I’m just a mom who monetize my channel, sponsored content, have fun, work when I can. ”
She’s hoping today’s child stars understand the value of money in a way she (and obviously, many other young actors in her place over the years) haven’t.
Source: Christy Carlson Romano on YouTube
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