Inside Meghan and Harry’s cost of living crisis as they struggle to upkeep lavish lifestyle

The Sussexes’ have built up a very luxurious life for themselves since moving to the States but are facing “financial challenges” as they are struggling to make a success out of their careers.

Harry and Meghan are said to be facing “financial issues” as they struggle to make a name for themselves in Hollywood (Image: TIMOTHY A. CLARY/AFP via Getty Images)

Meghan Markle and Prince Harry are said to be struggling after an expert suggested that they are facing “financial challenges”.

The Duke and Duchess of Sussex announced they were becoming financially independent when they made their shock exit from the Royal Family back in 2020.

The couple signed a number of lucrative deals to help pave their way in their new Hollywood lifestyle but their eye watering $25m contract with Spotify came to an abrupt end last year after their Archetypes podcast was axed.

There were also rumours that Harry and Meghan’s Netflix deal was at risk as it was reported that they were asked to come up with “more great ideas” after their Netflix deal if they wanted to be paid £40m in outstanding fees.

However, a Netflix spokesperson has confirmed that the couple’s deal isn’t ending “anytime soon”, the Mirror reports.

The Sussexes’ were dropped from their Spotify deal in June last year (Image: Chris Jackson – Pool/Getty Images)

They said: “The bond with Archewell Productions is one we deeply value. Harry & Meghan launched as Netflix’s most spectacular documentary debut to date. Our exciting journey with them isn’t ending anytime soon.”

Royal author Tom Bower does not seem convinced however as he said the Sussexes have “no new income streams, no new companies”.

Speaking to Closer magazine, he added: “Everything they’ve attempted to do to relaunch themselves I think in the end has been utterly unsuccessful and has failed.”

Tom believes the couple’s “desperation” to find their new career path could continue into 2024 if they fail to make any announcements soon as he believes their names were unfortunately “tarnished” after being slammed by Spotify executive Bill Simmons who branded them as “grifters”.

The Sussexes’ have some pretty high outgoing that they will need to consider when planning out their next career move.

For example, their $14.6m mansion in Montecito, California which they bought when they left the Firm will not pay for itself.

The Sussexes secured the nine-bedroom pad just months after stepping down as senior royals which boasts chandeliers and marble coffee tables.

The former Suits star previously admitted that they weren’t going to view the home as they didn’t have jobs as she said the thought of them living there “wasn’t possible”.

However, Meghan and Harry fell in love with the mansion and did “everything they could” to buy it.

They also splash a lot of cash on security for themselves and their two kids, Prince Archie and Princess Lilibet.

It’s been reported that the bill for security is around $2m (£1.5m).

Speaking to Page Six, a source said Meghan and Harry were forced to fork out the money after the Royal Family took away their bodyguards.

Meghan and Harry currently reside in a nine bedroom mansion in Montecito, California (Image: Google Earth)

As well as security, the Sussexes’ pay their own private travel.

Back in November, they were seen boarding a private jet to travel from California to Nevada for Katy Perry’s Las Vegas residency show.

The Sussexes’ travelled onboard a 2009 Gulfstream jet that belongs to one of their friends, oil company heir Michael Herd.

The former royal couple also travelled on a private jet to the Caribbean last year for a family trip.

Meghan also enjoys her designer clothing and has some high-end pieces in her wardrobe with the duchess showing off a wardrobe worth £86,612,16 last year alone.

It’s not known whether the mum-of-two pays full price for her clothes, or if she receives discounts from designers for wearing their fashion.