Christy Carlson Romano - How I Lost All My Money (with Lyrics & Subtitles)
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Christy Carlson Romano - How I Lost All My Money (en) Lyrics
- This is how I blew all
my Disney money.
I started making money with Disney
when I was 16.
And there's a law called
the Coogan Law
that protects minors
from their parents spending
all their money.
That's not exactly what
happened to me,
but I will take you on a journey
to my path of financial fluency
and how I made and lost
millions of dollars.
So basically, you start to
make money every week,
you negotiate at a certain rate
for how much you're gonna
make per episode.
Eventually, you get to renegotiate.
That's why agents are super important
is because they can help you
negotiate higher rates
and even things like residuals.
I mean, those are sort of fixed rates.
Which by the way, in case
you didn't know,
residuals reduce by 10%
for a 10-course cycle.
So assuming my shows
were in syndication
and we do that after 65 episodes
and "Kim Possible," "Even Stevens,"
they were in syndication,
so I got residuals for a long time.
I really regret not investing
my money wisely.
I didn't get a house.
I didn't take any money
and store it away,
other than the Coogan money.
That money, I used towards
going to college at 18.
I left the business and
I went into college,
and I took a lotta that
money and put it
towards not having student loan debt.
That was smart, sure.
Except that I left school
a year and a half in
and then I had this money
at my disposal.
I was never told how much
money I was making.
Money didn't have a purpose for me.
I didn't really know what it was.
I just knew that I had it and
I didn't care about it.
That's a problem.
You gotta teach kids the value
of each single dollar
that they make, everything
that they do,
the energy that it brings
to their life,
and what it takes to make that dollar.
It's a relationship that
you have to it.
I wasn't really fluent in how
to take care of my money.
At 21, I decided to part
ways with my family
for like a year because
I didn't like the way
that my money was being managed.
And it was a sad year for me,
but it was also an interesting year.
I started to understand that I had
a certain amount of money
and that made me feel super confident.
So I would go to the stores,
I would buy really big-ticket items
from like Ralph Lauren.
So much so that I actually
had a friend
who worked there who was
my personal shopper.
Funny how he wasn't my friend when
I stopped shopping there.
I tried my best to class myself up.
At the time, I was also
dating somebody
who kind of gave me this like stigma
of not being good enough.
And a lotta people were telling
me I wasn't good enough.
And so I was using buying things
and money as a weapon.
I felt like if I could just
buy certain things,
I would feel better or if I just
lived a certain lifestyle,
I would be closer to that joy
of feeling accepted and
a lot less alone.
Because I felt really dumb
for not knowing about my money,
and I never really made
peace with that.
Even to this day, there's nothing
that I can really do
about the fact that money
came and went.
So for example, the biggest
regret I have
is that a psychic came into my life
and managed to get a bunch
of money from me.
I will definitely talk about
that another time.
But some other crazy purchases
that I made,
I had a '72 Corvette that
my uncle from Ohio
didn't want and so, he
offloaded it to me.
I was having to do all
this work on a car
that I never even drove.
I would have anybody that was
dating me at the time,
"Please drive my car.
Please just drive it so that
we can have fun together."
That's so sad.
Anyway, I did away with the car.
I bought, bought being
the operative word,
and you should really just lease,
a G wagon Mercedes, every month
payment, really bad on gas.
It was when it first came out too,
so everybody was super into this car
and I just needed to have it.
I mean, you think you have
this extravagant life
and then real life hits
you in the face.
It's like, no, now you have
to maintain the car.
Now you to put nice gas in the car
'cause it's a particular
type of engine.
Overall, I was not being taught
how to manage my money.
For example, when I was 21,
I had a record deal,
I had a book deal.
And in that year, I made
just about $1 million.
And in that same year, I spent it.
I pretty much had like a loss.
And I know that sometimes
that's like a good thing to report,
but it's really not.
You wanna know that you've made money
and that some of it's saved.
It's really sad.
But really, there's no purpose
in fretting about the past.
Everything that happens to
us has to be a lesson
that we can grow from.
I went back to school,
and I went back to school on a grant
so that I could finish
my degree finally.
And I think I was like 30,
and I went back to school
another time.
But in the process of
getting my degree,
it was like 12 years long.
So I'm just like a lotta
people out there.
I have student loan debt
and I'm trying to pay stuff off.
And meanwhile, I have kids.
Now, my biggest thing
about child actors,
you aren't told that the work
is gonna slow down.
In fact, I was told the opposite.
Specifically, by my mom,
some of my team,
even my money manager at the time.
"Oh don't worry, 'cause
the residuals come,"
or, "Don't worry, 'cause you're
gonna keep making money."
And you know, it's interesting.
It bred a sort of contempt in me.
It was a tremendous amount
of pressure.
And I think I self-destructed,
to be perfectly honest.
After my mom stopped working
with me for that year,
I was like three hours
late to auditions.
I would like not get there on time
'cause I was just not mentally
in the pocket.
I was overwhelmed pretty much.
And so the transition wasn't
smooth for me,
monetarily, emotionally, anything.
There's ways to avoid this
and maybe I am somebody
that's wanting to open up to you
so that you can learn from me.
But I will say, invest that money
in ways that matter.
The tricky thing is that
when you're young,
you need to be taught the difference
between asset and liability.
So a dollar can either
make you more money
of you're just giving it away.
And so when those numbers
started to go down,
I felt like I needed to
like just perform
and then the joy of performing
got taken
because all I wanted to do
was make more money.
And so yeah, I mean, it
very easily becomes
about making money for you.
I did a lotta movies
I didn't wanna do.
There was a specific movie
I actually did
that I'm not proud of,
and now I've got two daughters.
I love them dearly and I would
never, ever want them
to go through what I went through.
Basically, I did a nude scene.
I had never thought in a million years
that I would ever do something
like this.
I was America's sweetheart,
morally sound in my mind.
I believed in the Disney magic.
I still do.
And then I felt so exploited
and marked and horrible.
So obviously, I'm okay now.
I promise you, I'm okay.
I have made peace with this,
but there are some realities
that come to play.
The truth is, is that I did
this movie for the money
because I was desperate
to feel that feeling
that I had when I was
making tons of money
and everything was okay.
Growing up, my parents had
a hard time with money.
And there was times when
they didn't know
how they were gonna pay the mortgage.
In fact, that kind of happened
throughout me
making my money.
I would help them on mortgage payments
and I would help my parents out a lot.
And I think over time,
the value of money and the influence
it had over me,
it just got more and more complicated.
And it shouldn't be complicated.
Money should be very, very simple.
And I'm learning that now with time.
And I'm learning that now
with personal growth.
Because where I'm at
now at 37 years old
is that I have two daughters
and they deserve more.
What my kids deserve is the knowledge
and the conversations that
maybe we can have
about the way that money
should be spent.
You know people think
that actors make a ton
of money, right?
They're not making the kinda money
that you think they're making.
Because agents and managers take
a significant portion.
There's so many things celebrities
at a top level
have to spend their money on.
It just comes with the industry.
Where you start to make
money for yourself
is if you're producing
your own movies,
if you own your own equipment,
if you work with your friends.
It's the spirit of independent
filmmaking
and content production
that is so vibrant
in today's age and it's very,
very empowering.
There's no shame in making money
for yourself that way.
It's so funny, the other
day I got a ping.
It was my Celebrity Net Worth.
And you can Google a celebrity's
net worth
or if you Google their name,
it's like one of the first
thing that pops up.
It's crazy.
Because it said I was
worth $3 million.
I am not a millionaire in any
way, shape, or form.
I am just a mom monetizing my channel,
doing sponsored content, having fun,
working when I can.
But yeah, that thing is not factual.
Don't look at that and think anything
about anyone's life.
You really never know what's going
on behind the scenes.
If you're having a hard time,
know that I have had a hard time too.
I really think you should have goals
for what you wanna do.
Do you wanna make conservative
amount of money
in a certain amount of time?
Go for it.
Build small and make sure that
you're doing things
that are smart, that can make
you money, not break you.
That is very, very good
advice, I think.
And enjoy the things that
are not expensive,
like this walk, this beautiful,
beautiful walk.
I'm so grateful for it.
Gratitude is priceless.
I promise you that.
Never let your expectation get
higher than your gratitude.
I really do like that mantra.
I try to think of that often.
And yeah, go out, enjoy the day.
It's free. (laughing)
Please support me on PATREON Thank you!