Katie Holmes Is Financially Challenged

"Dawson's Creek" star Katie Holmes admits the more she earns, the more she spends, and though she still owns the same modest townhouse she bought three years ago in North Carolina she treats herself to expensive trips and owns a massive collection of designer shoes.

Holmes reveals, "I shop too much, I know that. My dad manages all of my money and his buddy does my taxes every year for free. It's done out of Ohio and every six months I'll sit down with my dad and go through it. I have no idea what he's talking about."

"I have about 50 pairs of shoes and I take a lot of nice trips, but I don't even have a house in Los Angeles - it would be a pigsty. I'd have to have three maids."