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.
She has to pay her ex-husband $15,000 per month in child support and $20,000 in spousal support. Spousal support will end Nov. 15.
As for Federline, his biggest monthly expenses include $7,500 in rent and $6,000 in security, according to his financial declaration.
The dancer-turned-rapper has a comparably modest monthly budget for clothes _ just $2,000. He also spends about $5,000 on entertainment, gifts and vacation, and $1,500 eating out.
Federline earned more than a half-million dollars in 2006, mainly from entertainment and endorsement deals, but after business expenses only grossed $7,436 that year. He receives $15,000 per month in child support.
Seriously, WHAT THE HELL. NO money in savings, NO money in investments, and a paltry $500 a month to charity? Good Lord – if I was making that much bank, Charles Schwab would be my new best friend, right next to T. Rowe Price. You’ve got to be kidding me.