After ten years as the big-spending wife of a successful real estate developer, Real Housewives of New Jersey star Teresa Giudice was told by a lawyer that she and her husband, Joe, were $11 million in debt — and needed to file for bankruptcy as soon as possible. “I was humiliated,” she tells In Touch.
Teresa, 37, was also in shock and had no idea they were in so much financial trouble. “Joe thought things were going to get better,” she explains. Her alleged $60,000 spending spree on home furnishings — which reportedly took place right after she and Joe declared bankruptcy — didn’t win her any public sympathy. When Teresa appeared on The View, insisting that she’s now living within her means, Joy Behar replied, “How can you live within your means if you’re now $11 million in bankruptcy?”
These days, Joe has taken control of the finances, doing all the grocery shopping and imposing a limit on Teresa’s credit cards. Joe says, “I want to save more.” While their four girls – Gia, 9, Gabriella, 6, Milania, 5 and Audriana, 1 – used to always have brand new clothes, they now wear each other’s hand-me-downs. “Me and my husband have learned a lot from our mistakes,” Teresa shares, and adds, “It’s brought us closer together.”