Suzanne Shaw has admitted she once went through a million pounds in just 18 months.
The 32-year-old said she started making plenty of money after she found fame in Hear'Say but squandered it on cars and clothes.
She told the Telegraph: "I had just turned 19 and over the next 18 months all five of us in the group made about a million pounds each... I had no idea that you had to put half of everything away. We worked incredible hours, living off four to six hours' sleep a night. I didn't know how much I earned, and I remember saying to my accountant at one point, 'I really need to get a computer and a camcorder, can I afford it?' and she laughed at me and said, 'Of course you can.'
"That was the worst moment for me, because then I just blew my money with no regard to tax, no regards to investing properly into property. I just thought, 'This is going to last forever'. I had a credit card with around 40 grand on it, and at one point my accountant told me I'd bought £20,000-worth of clothes in the space of three months, and none of it was even designer."
Suzanne said she went through three cars in about six months and once bought a brand new car then sold it the next day.
The star admitted she felt like a "total failure" after the group split and she had nothing to show for it, just debts.
"At my lowest point I was probably around £200,000 in debt, made up of paying back what I'd lost through the house repossession and £40,000 on credit cards and it's taken me eight years to pay every penny back, which I have now done," she said.
However, Suzanne revealed she learned her lesson and has since educated herself about money.
"I've put everything aside for tax, I've scraped through and I've been much, much stricter. I don't need two cars, I just need one to get from A to B and today I live within my means," she said.