When Britney Spears’ father, Jamie, was named her co-conservator on February 1, he took over her financial affairs, IN TOUCH WEEKLY reports.

BRITNEY SPEARS’S BEHAVIOR HAS COST HER $61 MILLION!

But after going through her books, Jamie must have learned just how much of a toll Britney’s crazy behavior, which started in February 2007 when she shaved her head, has had on her bank account — she’s lost nearly $61 million. “It’s staggering how much money has been used up,” a family friend says.

In addition to the enormous tab for legal bills, rehab and psychiatric care, Britney’s inability to work has cost her a fortune. “By not touring for her last album [Blackout], she lost out on $50 million,” estimates Robert Bianchi, an LA-based CPA who isn’t an accountant for Britney. Jamie hired his own accountants to sort out the money mess and bring an end to the 26-year-old’s excessive spending. “It’s been quite a challenge getting things under control,” the insider says. Luckily, as Britney’s mental health improves, so does her bottom line. “She’s spending about a fifth of what she used to,” the insider adds.

Image WENN