Mariah Carey has shrugged off rumours she is running out of money after struggling to curb her lavish tastes and lifestyle.

According to recent media reports, Mariah has flittered away most of the US$28 million she was paid to terminate her contract with Virgin Records three years ago. But a spokesperson for the 34-year-old says, "She wrote the majority of songs on every album and songwriting is a very lucrative business." Carey is set to release her tenth studio album under the Def Jam label next year. (wenn)