Hasselhoff claimed to "have less than $4,000 in liquid assets" in legal documents asking that the court lower his monthly spousal support payments to ex-wife, Pamela Bach.
"Sometimes you're up. Sometimes you're down," Hasselhoff told ET.
In his heyday, the actor couldn't have imagined news articles would be questioning his financial stability. The veteran Hollywood star earned millions in the '80s and '90s from hit shows like Baywatch and Knight Rider.
"I was laughing about all these people who made money and lost it, and I was saying, 'How could that happen to them?'" Hasselhoff said. "All of a sudden, I woke up one morning and said, 'Oh, I realize now!'"
Thanks to his new obsession with Facebook Live, the 63-year-old icon has been open about sharing his life's details with fans, but he revealed to ET that he draws the line at his upcoming wedding to his 36-year-old fiancé, Hayley Roberts.
This will mark Hasselhoff's third marriage. He previously wed soap star Catherine Hickland in 1984. After the estranged couple split in 1989, Hasselhoff married actress Pamela Bach the same year, but they later called it quits in 2006. Hasselhoff and Bach have two daughters together -- Taylor, 26, and Hayley, 23.
On July 17, Hasselhoff will be hosting 10 episodes of Knight Rider on El Rey Network along with Robert Rodriguez.
"We will be telling all the behind-the-scenes action of the '80s," Hasselfhoff said.