Spending Policy Statements

Spending statements arose in the institutional context, because spending from the endowment is a critical part of the life of all but the smallest institutions. But spending statements can be extremely useful to family investors, too. Many family members will not be knowledgeable about the nexus between spending and preservation of the family's capital, and a spending policy statement can outline why it is crucial to keep spending under control. See www.wiley.com/go/stewardshipofwealth for a sample Spending Policy Statement.