Mathew Knowles, the father of the singer Beyonce, is back in the news again. Knowles is the father of a child he had outside of his marriage to former wife Tina, which led to their divorce. Now, he is getting bad press for his other activities, including his falling behind in child support.
TMZ is reporting that Knowles owes his child’s mother, Alexsandra Wright, $32,135.90 in back child support payments. Making matters worse, the mother is saying that she and the baby are on public assistance in order to get by. She gets a $300 EBT card for food so she can feed her baby.
But Knowles and his team say that the woman is manipulating minds in public in order to obtain sympathy and that she is not doing as badly as she claims. They also say that it was a clerical error that led to the problem, not any form of negligence on Mathew’s part.
For Knowles, this is the kind of complexity that doesn’t typically come to a man of his age. He is 63 years old, which means that he is going to be in his 80s when his child finishes college. He might have been better off settling in as a grandfather to his daughter’s child, Blue Ivy Carter.
Financial Lovemaking lessons from this story:
1) Managing your desires and impulses can be important for your financial future. Because of his fling with a woman, Mathew is both having financial problems and seeing his reputation dragged through the mud. If he could do all this over again, he probably wouldn’t do it.
2) Having a baby with a wealthy man is not a very good financial plan. If Ms. Wright is on public assistance, someone may want to ask her why she is incapable of getting a job or didn’t obtain the skills necessary to provide for herself. As a woman over the age of 35, some might expect that she knows how to pay her own bills by now without waiting on welfare to be taken care of by a wealthy benefactor.