You think you have a hard time controlling your spending? Try being Britney Spears for a day, with so much money coming out of her ears that she can't spend it fast enough.
In an average month, the singer spends $16,000 on clothes, almost $5,000 on restaurants, and $17,000 on car and transportation costs. But that's nothing... she spends over $100,000 a month on what her lawyer called "entertainment, gifts and vacation," in a recent court filing.
But Britney's not the only celebrity spending money like a drunken sailor on shore leave. Prince & Associates did a survey on the spending of celebrities, by talking to the business managers of musicians and entertainers with net worth over $10 million.
The survey found that the celebrities will spend almost $50,000 each on alcohol for the holiday season. Their entertaining costs for the holidays are going to average $52,300 each.
Some of the celebrities who were the target of the survey will be traveling over the holidays, and they will spend an average of over $89,000 to stay at a hotel or resort. They'll also be buying a few things to wear... spending almost $75,000 on clothes and accessories, over $86,000 on watches, and almost $115,000 on jewelry.
And what would the holiday season be without some spa treatments and personal trainers? With a price tag of over $64,000, it seems the people in question will barely scrape by...
Forensic accountant Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations through her company, Sequence Inc. Forensic Accounting. The Association of Certified Fraud Examiners honored Tracy as the 2007 winner of the prestigious Hubbard Award and her first book, Essentials of Corporate Fraud, will be on bookshelves in March 2008.
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