A recent story appearing on CNN examines Britney’s spending habits revealed by court documents released November 1st. According to the papers Ms. Spears brings in $737,000 a month. 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.
Meanwhile, she spends zero on education, savings and investments and gives $500 a month in charitable contributions. With such an enormous income, if she saved just 1% a month she would have $88,440 at the end of a full year. This would be more than enough to ensure her children get through college. For the rest of her life she could take that $7,370 monthly contribution and dump it in an investment vehicle that returned 5% annually for a cool $8,387,324.38 by the time she turns 60. Of course what fun would that be? I guess we’ll keep seeing Britney albums and related schwag until she finally gets a clue or drives herself crazy into the ground. Hey, nobody said saving for retirement was glamorous.