P Diddy proves he can't manage his money after writing an I.O.U for $1million

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This is what happens when you've got too much money and not enough sense...

P Diddy IOU to Rick Ross

© Diddy Twitter

You know you've got too much money when you can actually write an I.O.U for $1million to a mate because you lost a bet.

P Diddy got a little bit carried away in Las Vegas over the weekend and ended up owing his fellow rapper Rick Ross a staggering amount of money. Perhaps he got a bit too excited on the poker table? Or maybe they started big stakes dares like at a rubbish stag party?

We think it's safe to say that Diddy needs to go to the bank...or maybe he can just hand over a couple of watches, some jewellery and a fast car.




Watch the video below for more Instagram hilarity...


You've probably never written an I.O.U with that many zeroes, but we've all borrowed money from our friends and family at one point. If you've got money management issues, take a look at these simple top tips to avoiding borrowing...

1. Assess your current situation: Go the bank and get a printed statement or check your online banking for all of your accounts, including current, store cards and credit cards. Arrange them in front of you and, starting with your net monthly income, take off all your big expenditures like rent, bills, food, drink, clothes. Work out which section can be slashed to save money. Do you really need a Netflix and a LoveFilm account? Do you really need three store cards?

2. Try the cash-for-week technique: If you really need to stick to a budget draw out a lump sum of money in cash at the beginning of the week and make that last. It's easy to put small purchases on your debit card (like that daily Starbucks coffee), but it will make more of an impact when you're using ten pound notes.

3. Check for vouchers, discounts and store offers: Okay, so you might not want two 500g packs of minced beef for a lasagne for two, but take the deal, freeze what you don't want and save money. Check online to see if there are any deals for your takeaway, eye-test, shopping spree or cinema tickets. To save money you need to be pro-active.



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