Prince William, Kate Middleton and Prince Harry's $4.6 million budget revealed

It isn't cheap being royalty as it was revealed in the latest financial report of the British royal family released by the Palace saying that they spent $56.2 million in 2014-15. These costs, which average out to about .88 cents per U.K. citizen, are the total sum of all members, but only $4.6 million was spent on the younger royals including Prince William, his wife Kate Middleton and Prince Harry.

The Prince of Wales' financial report revealed he foots the bill for all three covering costs to run their Kensington Palace offices, including official private secretaries and their press team, but not private staff like a nanny and housekeeper or renovations at Anmer Hall.

It has been revealed the William, Kate and Harry spent $4.6 million last year Photo: Getty Images

In previous years the report was itemized showing things like Kate's clothing budget, which came to almost $55,000 in 2012, but this year it only broke down travel costs.

While a lot of the couple's official travel was paid for by the countries they visited including Australia and New Zealand, they did pay for William's week-long tour of Japan and China, which totaled $109,000. William and Kate's famous trip to New York in December where they stayed at the luxury Carlyle Hotel, ended up costing $26,600.

The majority of their costs are travel related Photo: Getty Images

Harry's trip to Brazil and Chile last year cost $135,000 including his flights and travel staff, but it was his dad Prince Charles that had the most expensive trips. He spent $2.44 million on 17 trips throughout the year and had $908,575 on his one-week visit to Central America with his wife, the Duchess of Cornwall.

Charles and Camilla spent the most on travel last year Photo: Getty Images

The discrepancy in travel costs between Charles and his sons likely boils down to the fact he flies private while the younger royals take more commercial flights for their engagements.

After the publication of the Sovereign Grant Annual Report, Buckingham Palace released a statement saying the royal family has "excellent value for money" and has worked hard to bring down costs.