Having recently endured a bitter and costly divorce, most of us would probably want to keep a tight hand on the purse strings.
Keeping to a set budget might help, as well as cutting down on one or two of your more extravagant outlays.
But that’s not the approach taken by Johnny Depp. In fact, the actor has splashed out £21million in the past year alone according to his former managers.
They say Depp spends an astonishing £24,000 a month on wine, £238,600 a month maintaining a team of 40 staff and £159,000 a month on private planes.
Over recent years he is also said to have spent £8million on a massive art collection as well as 70 collectible guitars, and treated himself to a £14.3million 150ft luxury yacht –which was later bought by JK Rowling.
His extravagant spending also included a £2.4million bill on a cannon to blast the ashes of his friend and author Hunter S Thompson into space.
The actor had played the lead role in the film adaptation of Thompson’s book Fear And Loathing In Las Vegas in 1998.
Depp is suing his ex-managers for £20million for mismanaging his earnings. But his excesses have been revealed in a counter lawsuit filed in Los Angeles Superior Court by The Management Group (TMG) on Tuesday, with the firm describing him as a ‘voracious’ spender.
His ex-managers claim they repeatedly warned the 53-year-old his lavish lifestyle over the past two decades, which cost more than £1.5million a month to maintain, was leading him towards financial ruin but he chose to ignore their advice.
TMG handled his finances from 1999 until early 2016, which was an especially lucrative period for the actor.
During that time, Depp’s career rocketed after landing the role of Jack Sparrow in the Pirates Of The Caribbean movie franchise.
It’s thought starring as the lead in the five films has made him more than £200million.
Depp’s lawsuit, filed on January 13, accused his former advisers of defrauding him out of his fortune, taking out loans without his approval and hiding the severity of his financial problems from him.
He claimed that he only realised his fortune was dwindling when he was advised to sell off his 45-acre chateau in France to pay off his debts. He also alleges that the company failed to file his taxes on time, costing him £4.5million in penalties.
However, the management company claims the actor has spent more than £59.6million on 14 homes including the French castle, a chain of islands in the Bahamas and several homes in California.
Other spending included £3.2million on a failed record label, £120,000 a month on 24-hour security and he also maintains a fleet of 45 luxury cars. They also say he paid £800,000 for 12 storage facilities to house his collection of Hollywood memorabilia involving icons such as Marilyn Monroe, John Dillinger and Marlon Brando.