Friday, November 2, 2007

Financial Lesson from Britney Spears

Court papers released Thursday in Britney Spears' custody dispute with Kevin Federline show she spends lavishly on clothes and entertainment, and doesn't save or invest any of her roughly $737,000 monthly income.

Spears' monthly expenses include $49,267 in mortgage for two houses, $16,000 for clothes and $102,000 on entertainment, gifts and vacation, according to her financial declaration. Although she's often photographed eating fast food, Spears declares she spends about $4,758 per month dining out. Meanwhile, she spends zero on education, savings and investments and gives $500 a month in charitable contributions, the documents said.”
From Yahoo News

Lesson - It’s not how much money you make, its how much you save that differentiates the financially smart from the rest.

2 comments:

Dawn ... said...

OMG ... this woman is so ridiculous and sad ... yikes is all I've got to say!

Frugal Family said...

What an example of living beyond your means! We are a middle class family of 4 with an annual income of $60K and we save about 10% in pre-tax 401(K), give regularly to charity and invest in educational toys/games and courses for the whole family. Can't imagine that a $700K monthly income cannot suffice for some people!!!