How Much Do High Earners Spend Each Month?

How much high net worth entrepreneurs really spend, 3 must know financial concepts, and more

Author

Carry
November 13, 2023

Hey there! Welcome to the Independent Money newsletter 👋 We’ll be exploring the latest financial news and discussing how it affects entrepreneurs like you. Plus, we'll share some awesome wealth creation insights from successful entrepreneurs.

Let’s dive in! 🏊‍♂️

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In this newsletter, we’ll discuss:

  • Spending Habits Of High Earning Entrepreneurs: Have you ever wondered how much high net worth entrepreneurs spend each month? Here’s a snapshot from a survey run by Hampton.

  • Financial Literacy Tip: This graphic from Brian Feroldi is super simple, but it illustrates three critical financial concepts you should know.

  • What’s happening at Carry this week? 

Monthly Spending Habits Of High Earning Entrepreneurs

Have you ever wondered how much high earning entrepreneurs spend each month? 

Hampton recently ran a survey to its members and broke down how much each entrepreneur spends per month.

The results were pretty interesting. The majority of the people surveyed have a networth of between $1 million and $20 million, and the most common monthly burn rate was between $10k and $20k.

And the comments were just as interesting:

What’s your take on this?

Financial Literacy Tip

Knowing how an income statement, balance sheet, and cash flow statement work is critical for any business owner. Brian Feroldi’s graphic does a great job of breaking this down.

It will help you answer a simple question; where is all of our money going? 

With that information, you can make adjustments in your business to make it more profitable.

What’s Happening at Carry?

Here’s what you can expect in the coming weeks

See the full list of events here. ⏰ 

How to Pay Less in Taxes in 2023

A free, live workshop specifically for professionals, high W-2 earners and business owners on key strategies you can use to pay less in taxes in 2023

THE BUSINESS OWNERS GUIDE TO PAYING LESS IN TAXES

A complete guide to the biggest tax saving strategies for US business owners, freelancers, self-employed individuals, and side hustlers.

Want More?

Still can’t get enough? Well, we’ve got you covered!

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If you want more resources on building wealth as an solopreneur/entrepreneur, check these out:

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