Taking aim at Katie Price – who blew her £45million fortune and is fighting to stave off bankruptcy – Jemma called her “stupid” and said she spent foolishly.
Jemma, 30, explained: “How can you be that stupid? To lose all that money and not to have invested wisely for your future? It’s ridiculous.
“I am blown away that Katie is on the verge of bankruptcy – she had a clever, business brain and was always thinking about her next venture.
“When I lived with her she told me she’d bought her house outright for six million. Now that’s all gone?
“But you see celebrities like Katie, their lifestyles become so expensive they just can't keep up and they start spending money like water.
“Blowing thousands every day just trying to keep up the lifestyle they’re used to. And it’s impossible.”
Katie famously once revealed she spent £6000 on her hair extensions every year, and insiders said she'd also blow thousands on monthly beauty treatments.
After finding fame through modelling and her break through on Ex On The Beach, Jemma has worked hard to build up her businesses.
She explained: “I had a great agent and moved on to Celebrity Big Brother. After that I made a name for myself in business and now I own two dating websites and have shares in three more.
“I also bought a house in Manchester and rent it out. So that’s my fall back. It’s all about being clever and not blowing everything you earn.
“I'll lie in bed on a Sunday and I won’t get up until I’ve made a grand.
“Getting booked to go to a club, do a few plugs. Katie could do this if she needs the cash.”
Jemma also warned the new Love Island stars to prepare themselves for the lucrative cash deals to run out.
She said: “It's hard to stay current. You have to push. You can't just ride the wave while it's hot. As soon as new stars come along you get dropped.
“It's brutal. These love island stars – they will be no one next.”
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