Blue singer Simon Webbe confessed he blew up to £40k a week at the height of his fame.
He blew millions on “dodge” business deals which saw him haemorrhage cash.
The Moss Side-born pop hunk, 41, was at the peak of his powers in the early 2000s when – along with bandmates Antony Costa, Duncan James and Lee Ryan – he lit up the charts with dance floor fillers such as ‘All Rise’.
But despite that success banking him more than £2million a year, he was forced to file for bankruptcy in 2013, DevonLive reports.
The former Strictly Come Dancing star admits his bad financial choices were because he was "too young and too busy doing what he loved to care”.
Now older and wiser, Webbe insists people should focus on their own situation rather than try to keep up with those around them splashing the cash.
He said: "There is nothing wrong with living within your means.
"It doesn't matter what your neighbours have, just live within your means and you'll be a lot happier. I'm one of those people that because I came up from nothing, it was easy to go back to nothing.
"I was bankrupt more in emotion. It was all about ego and having the stamp of approval.
"Luckily we are all tight-knit (in Blue), we all had a plan and we were continuously working and I was paying off my debt because I believe in paying off my debts."
Speaking to Adam Deering, CEO of financial aid and personal debt specialists Hanover Insolvency, Simon explained how he made poor choices financially without even realising it.
"I was too young and too busy to actually care and understand. I was doing what I love doing, getting on the stage every day.
“Forty grand a week was coming in. I was glad for that to continue and I thought it would last forever so losing a bit here and there was nothing. That was my attitude.
“(You have) fame and then all of sudden ‘oops’, your tyres get stuck in the mud a little bit and things aren't coming in like they used to."
So what advice does his give his clients now?
"Make sure that they understand where their money is going,” explained Webbe. "I would have been in a better position than I am now. I just think I lost too much and it could have been avoided."
But Webbe stresses there is a way out for those who have hit a financial low.
"My advice to people who have hit rock bottom is the only way is up," he said. "And the first thing you do is talk about it.
"Start with your parents or a family member because they can only have wise words to tell you. From there you can start building yourself up.
"Okay, the way out might not be the route you want to take but once you're out of it, that's when you're able to breathe and you're able to rise above the water.
"Would I want anything different? Yeah, of course – I wouldn't have wanted to have gone bankrupt but would I be the same person I am now? Would I be as grounded and as respectful? I don't know."
Adam Deering, whose firm offers support to those suffering financial issues, has this advice for anyone who suddenly comes into large amounts of money: "Surround yourself with good people, positive aspirational humans.
