“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.
Mark U Runta 
1 comment:
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!!!
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