Even The Richies Are Cutting Back

As a bookkeeper, I see my client’s personal and business bank statements. Many are spending less on personal and cutting business expenses when they can.

clipped from www.nytimes.com
The wealthy don’t generally speak publicly about their finances, in good times or bad. It’s in poor taste, for one, and their employers could fire them for talking even a little. But people who provide services to the wealthy — lawyers, art advisers, personal trainers and hairstylists — say they are getting an earful about their clients’ financial anxieties.

Interviews with the people who actually see the bank statements, like divorce lawyers and lenders, say their clients are definitely living on less than they did a year ago, regardless of how expansive the definition of “less” may be.

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