As second in line to the throne, money issues for the new royal couple will certainly center on what income they will be receiving rather than what they will have to do without.
Buckingham Palace is currently in talks with the British government to initiate a funding stream from the Crown Estate for the newlyweds to set up their own court. Although the final figures have yet to be confirmed, you can rest assured it will be a substantial amount.
Estimates reveal that despite Prince William’s determination to live modestly, the newlywed’s annual costs are due to reach at least £250,000. This is a drop in the bucket when compared to the expenses for the upkeep of his father’s 149 staff which look after both him and his wife Camilla.
For months, much speculation surrounded the type of life-style the Duke and Duchess of Cambridge would adopt, with many asserting that the young couple would most likely choose a low-key, self-sufficient way of life. However, recent reports have indicated they are now looking to employ a lady-in-waiting, a valet and a personal adviser.
Currently, Prince William relies on his father for financial support from his father. Prince Charles uses money he receives from the Duchy of Cornwall to pay for his personal expenses and that of Camilla, William and Harry. The annual spend estimates around £1.6 million per year.
While money matters are being sorted out, it is understood that Prince William already receives roughly £300,000 a year in interest generated from his Princess Diana’s inheritance. He also earns £37,170 as a pilot.
For now, when in London, the couple will share an apartment with Prince Harry at Clarence House. It is rumoured they could soon have the use of an apartment at Kensington Palace as well.
Where do you think they should live? If you had a choice of any palace to call home, which would it be?
If you are dubious about the amount of money William is expected to be given for just being “royal”, or have doubts in general about money spent by the monarchy, have a look at this video to see if it changes your mind: