Source AP ©

Britney Spears is big spender and bad investor

Court papers in Britney Spears' custody dispute with Kevin Federline show the pop singer spends lavishly on clothes and entertainment, and does not save or invest any of her roughly $737,000 (EUR511,000) monthly income.

Spears' monthly expenses include $49,267 (EUR34,159) in mortgage for two houses, $16,000 (EUR11,093) for clothes and $102,000 (EUR70,720) on entertainment, gifts and vacation, according to her financial declaration in the court papers released Thursday.

Although she is often photographed eating fast food, Spears declares she spends about $4,758 (EUR3,300) per month dining out. Meanwhile, she spends zero on education, savings and investments and gives $500 (EUR350) a month in charitable contributions, the documents said.

She has to pay her ex-husband $15,000 (EUR10,400) per month in child support and $20,000 (EUR14,000) in spousal support. Spousal support will end Nov. 15.

As for Federline, his biggest monthly expenses include $7,500 (EUR5,200) in rent and $6,000 (EUR4,160) in security, according to his financial declaration.

The dancer-turned-rapper has a comparably modest monthly budget for clothes - just $2,000 (EUR1,400). He also spends about $5,000 (EUR3,500) on entertainment, gifts and vacation, and $1,500 (EUR1,040) eating out.

Federline earned more than $500,000 (EUR347,000) in 2006, mainly from entertainment and endorsement deals, but after business expenses only grossed only $7,436 (EUR5,156) that year.

After-hour calls to attorneys representing Spears and Federline were not immediately returned.

The documents also show Spears had to temporarily surrender custody of her sons to Federline because she defied a court order.

In a Sept. 28 order, Superior Court Commissioner Scott M. Gordon prohibited the divorced couple from driving their children unless they are properly insured and have a valid driver's license.

The pop star disobeyed the order when she was photographed driving Sean Preston, 2, and Jayden James, 1, a few days after the Sept. 28 order.

She was ordered Oct. 2 to relinquish her children "until further order of the court" when she wasn't able to prove compliance with Gordon's order, namely proof of a valid California driver's license.

The two previously had joint custody of their sons, and Federline was seeking a greater share of custody. After he got temporary custody, Spears went to a motor vehicles department office and got a temporary driver's license.

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