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Twist of Kate Canceled

According to a new shocking report, Kate Gosselin has blown through millions of dollars and is now worried about her financial future.

Popeater reports that though the TLC reality star made a small fortune from her show Kate Plus 8 and Dancing With The Stars, most of that money is now gone.

“Kate lives like she is a movie star,” a friend tells Popeater. “She flies first class and stays at the most expensive hotels and spends money on herself like it’s going out of fashion. Remember, this is a woman who once spent $7,000 on a haircut!”

The source also adds that Kate thought she would get some endorsement deals following her stint on DWTS. “She thought she would earn millions by advertising baby carriages, food and cloths, but no one wanted her. The poor thing even thought she would get a deal with Cover Girl after being on ‘Dancing With The Stars,’ instead they went with Beyonce.”

The most shocking part of the article is that Kate is so worried about her finances that she is considering getting – gasp – “a real job!”

And in other Kate news, Life & Style magazine is reporting that TLC has canceled Kate’s other show – Twist of Kate. The reason? “It’s no longer on the schedule because Kate can’t bring in the ratings,” says a source.

Even worse, her other TLC show, Kate Plus 8, might also be in danger of cancellation due to low ratings. According to the Hollywood Life, the June 22, 2009 episode of Jon & Kate Plus 8 registered 10.6 million viewers, compared to the 1.3 million viewers who tuned in for her recent Alaska episode.

TLC reportedly pays Kate a lot of money to do the show, so with the low ratings, the network might be more than willing to say adios to Kate despite her popularity.

UPDATE – A rep is confirming to UsWeekly that Twist of Fate is not canceled adding that the news is “100 percent not true.”  Twist of Kate follows Kate as she visits and helps families facing obstacles.

TELL US – ARE YOU SHOCKED BY THE REPORT? DO YOU BELIEVE KATE HAS BLOWN THROUGH MILLIONS?

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