Justin Bieber, one of the world's most renowned musicians with a net worth of millions, is reportedly facing financial difficulties. According to a source who spoke with InTouch Weekly, the pop star's lavish spending habits have started to catch up with him, leading to a significant cutback on his usual luxuries.

The source revealed that Justin and his wife, Hailey Bieber, who typically travel by private jet, were recently compelled to fly commercial due to financial constraints. "While they always fly private, Justin simply couldn't afford it this time," the insider disclosed. "He spends more money than he's got coming in, and is now having to cut back on certain luxuries."

This financial strain is attributed to Bieber's lack of new music releases and tours in recent years. His last album was released over three years ago, and his most recent tour concluded in 2022. As a result, his income streams have dwindled, causing tension within his wealth management team. The source mentioned an instance where Bieber was advised against purchasing a $700,000 diamond ring for Hailey due to his financial situation. Despite the advice, Bieber proceeded with the purchase by directly paying for it after being denied a loan.

"If Justin doesn't make some changes soon, he could lose everything. He is going to go broke," the insider warned. As of now, Bieber has not commented on the rumors surrounding his financial status.

Adding to the financial pressures, Bieber recently sold his entire music catalog, which includes his six studio albums: "My World 2.0," "Under the Mistletoe," "Believe," "Purpose," "Changes," and "Justice." While the exact amount from the sale was not disclosed, reports suggest it was around $200 million.

In a twist of life events, the news of Bieber's financial challenges comes as the couple prepares to welcome their first child. Hailey Bieber, a beauty mogul, is reportedly pregnant. "Everyone is excited for them... They will be great parents, and Justin will be super involved. This will be the next important project for him. He's so excited to raise his baby. They have a name that they think is perfect," an insider told People magazine.

The couple has yet to reveal the gender of their baby or Hailey's due date. However, the impending arrival of their child marks a significant new chapter in their lives. The excitement of expecting a child might be a source of joy amid their reported financial troubles.

Bieber's financial issues highlight the broader challenges that even wealthy celebrities can face when their income streams falter. Despite earning substantial sums from his music career and recent catalog sale, his high expenditure rate has brought about a need for financial prudence.

Bieber and Hailey's journey into parenthood will undoubtedly bring new responsibilities and joys. It remains to be seen how the pop star will navigate his financial landscape in the coming months, particularly with the added responsibilities of fatherhood.

As the couple adjusts to these changes, fans and observers will be keenly watching how Bieber manages his finances and career. The situation underscores the importance of financial management, even for those with significant wealth, and serves as a reminder that lifestyle adjustments are sometimes necessary to maintain financial stability.