Britney Spears recently divulged her spending for 2007, which to the shock of many totaled over $61 million! Upon hearing this news, media and bloggers lambasted the star for her extravagant spending, ignoring the fact that Britney actually tracks her spending, something I even struggle with.
On a more interesting note, MSNBC reports that an insider revealed to InTouch Online that Britney has reigned in her spending by 80% per month for 2008!
Even though this new information still puts Britney's monthly spending at a little over $1 million; dropping 80% of your spending is a pretty impressive feat. MSNBC looked into the actual breakdowns of her budget and pulled out several examples that even the average Joe can apply to saving money. Britney cut her transportation costs, housing expenses and money spent on child care in 2008, changes which will help her grow her personal net worth during the current calender year and are useful no matter your tax bracket.
Its not often that I would recommend you look to the stars as an example of fiscal responsibility but this time I'll make the exception. It seems that Britney took a look at her life and decided to reel back in some of her indiscretions and wasteful spending as part of a new life plan. Taking steps to ensure you have money for the future is important for anyone, from a multi-million dollar entertainment icon to someone pulling in $20K at a 9-to-5. These examples apply to both categories.
Take a personal finance lesson from Britney Spears