Could you get by on a measly $43,000 a month? It seems Rudy Giuliani can’t

‘Bankruptcy” is a surprisingly amorphous term. For poor people, it means not having any money. For corporations and the super-wealthy it means a nifty legal strategy that can shield their riches from lawsuits. And for Rudy Giuliani, the disgraced former mayor of New York City and personal attorney of Donald Trump, it means being forced to try to subsist on a measly $43,000 (£34,200) a month.

Half a million dollars in spending money a year might seem a princely sum to the common man, but “Sir” Rudy (recipient of an honorary knighthood) is anything but. We’re talking about a gentleman with elevated tastes here: a bon vivant who, during a legal battle with his estranged third wife, was accused of spending $7,000 on fountain pens and $12,000 on cigars over a five-month period. In that same timeframe, his ex-wife’s lawyer claimed he spent $286,000 on his alleged lover, $165,000 on personal travel and $447,938 “for his own enjoyment”. That’s a lot of enjoyment.

Giuliani’s spendthrift ways are now facing legal roadblocks. In December, a judge ordered the 79-year-old to pay $148m in damages to two election workers he had baselessly accused of rigging votes in the 2020 US election. Almost immediately, Giuliani – who owes creditors $152m in total – filed for bankruptcy. Because he is a responsible citizen, Giuliani prepared a strict budget and told a federal bankruptcy court in January that he would spend no more than $43,000 a month. This was supposed to cover necessities and not include frivolities such as entertainment.

Alas, budgeting doesn’t seem to come naturally to Giuliani, who ended up frittering away almost $120,000 in January alone (more than double the median US annual salary). It is not entirely clear where all this