The actress and her family have moved from their home in Calabasas, California to a rental in Encino, PEOPLE has confirmed.
She, husband Dean McDermott and their four children have moved to a $7,500 per month rental, with the 3,900 square-ft. home boasting five bedrooms and four baths, as well as a pool, spa, a gym and a media room.
A source close to Spelling tells PEOPLE they moved to be closer to the kids' schools.
Spelling, who has experienced financial difficulties in recent years, is currently being sued by American Express for an outstanding balance of $37,981.97 on her card.
Spelling's mom Candy Spelling, who has had a sometimes rocky relationship with her daughter, told TMZ in January she was unsure why her daughter hadn't paid the bills and said she has been helping her out financially.
"I'm paying all her bills now. I'm not paying extras like that, I'm not paying any back payments," she said. "Just for the house and the kids' school and the food."
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Spelling, 42, and her husband, 49, say their financial setbacks began in 2011 they sold their Encino home at a loss and the actress' retail space InvenTORI disappointed.
Back in 2013, Spelling opened up to PEOPLE about how some of her family's financial struggles, saying at the time that they were spending less on their kids' birthday parties and watching their medical expenses. McDermott opted against getting the vasectomy he wanted after their business manager said the couple couldn't afford it.
"We're in the entertainment business, and things change year to year," Spelling said. "We don't have a series on the air right now, so we have to be more restrictive of what we can spend, just like anyone who doesn't currently have a steady job."