Queen Elizabeth takes a pay cut

Even the queen has to cut back in these hard economic times.

Thanks to the UK’s austerity measures -- Queen Elizabeth is facing a pay freeze through 2015 that would bring her income to about $50-million a year.

Or as it’s known in the royal household -- the "danger level."

The queen will receive a $1.6-million payment to fund the diamond jubilee celebration of her 60th year as queen.

As they always say nothing soothes the sting of a pay cut like throwing yourself a diamond jubilee.

Though ramen will not be appearing in the kitchen at Buckingham Palace, the cut backs will still have an effect on the royal family.

Repairs to royal palaces will be delayed and worse yet Prince Charles will now have to pay for the kids.

He’ll pick up the tab for Prince William and Kate Middleton’s household staff.

To make extra cash the Queen is renting out rooms in Saint James’s Palace to corporate fat cats during next year’s Olympic Games.

Don’t expect the royals to star in a Real Housewives style reality show or the Queen to hawk her many hats on QVC to plump up their wallets; instead the Daily Telegraph reports the monarchy plans to balance out the lost income with profits from the crown estate.

It controls Regent Street, Windsor Great Park and more than half of the English coastline.

Yeah, the queen will probably be fine.