Nick Cannon Changing Spending Habits After Mariah Carey Split, Friends Worried He’s Struggling Financially

A source close to the pair says Cannon is having to greatly scale down his spending now that he is no longer with the music legend. “He’s behaving like he still has access to his ex’s bank account,” the insider said. “But his own paychecks are nowhere near high enough to sustain his expensive habits.”

And experts added that Cannon’s numerous business ventures don’t necessarily provide him the greatest amount of financial security. “Most of the money celebrities make goes to their lawyers, because they’re the ones who are brokering the deals and securing their clients’ works in addition to protecting their name and brand,” Todd Schoenberger, a managing partner at LandColt Capital in New York City, told OK! “Many celebrities are living paycheck to paycheck.”