Bernie Madoff’s Black Card Statements Leaked

by Minority Fortune

Madoff’s Black Card Statements Courtesy of Scribd

Bernie’s Credit Card Statements

The man may have been a scum bag, but Bernie Madoff sure kept his spending on a leash. He had seventeen family members listed on his black card, and the spending for the month comes to a total of about one hundred thousand dollars. This statement was for January of 2008 and appears to be even less than their previous December balance.

Their spending patterns were surprisingly modest, which is the spending habit of the wealthy elite. If you observe the tipping patterns, they stayed within the 15-20% tipping range. On some purchases, they even under-tipped! (i.e. a $258.38 dine-in bill only had a $15 tip) Ruth’s largest purchases were charity donations, which could be claimed on taxes. Additionally, their flight tickets were modestly priced. There’s even a pair of international tickets (Newark, NJ to Tel Aviv, Israel) at an exceptional price of $33. We can assume they were a frequent believer in reward programs. We have to admit that the statement is darn impressive.

The family truly spent in the way that an old wealth family would spend. It is a possibility that their spending modestly may be attributed to their Jewish background. Jewish people are known for being money savvy. However, we will not even entertain the thought of Madoff’s thievery having anything to do with his Jewish culture. Greed is global after all. Their spending is the one thing we’ll commend the Madoff family on doing. However, it was done at the expense of innocent victims. So, the result is bittersweet.

Despite the reality, there are a few things to learn from their spending habit. We’ll focus on those gains.

Things to Learn from Their Spending Habits:

•    Use donations for tax write-offs
•    Take advantage of reward/loyalty programs
•    Tip at a modest range
•    Always spend modestly

You Answer:

What do you find on the statement that’s interesting? What do you think about it?

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