People that earn so much but always broke?

[Min George]

Do you know anyone that actually earns good money but that person is always broke? You begin to question what they use their money for. What do you think could be an explanation for someone that earns so much but always very broke?!

 

[Augusta]

They do not spend wisely or have the mentality of scarcity or frugality, even when they have sufficient funds the express feelings of being broke as a way to motivate themselves to save or invest more.

 

[Springtime]

If you do not spend your money wisely or do not invest to grow your wealth, even you have money at the moment, you may go broke one day.

 

[Trush Jodie]

Anyone that earns good money but always goes broke is probably funding an addiction that takes his money from him.

 

[Kera]

Some people earn so much and always broke because they want to carry all the problems of their families.

 

[Tray59]

No that is not true,I see people who earn big but always broke as those who lack planning and can't focus on investment when you earn you will need to have where you are putting the money so that it's generate additional income for you

 

[eLdavis]

In cases like this, there are several factors or reasons for this. Most of them are in this state due to mismanagement, while some are only broke because they must have invested the money they have.

 

[King Belieal]

In cases like this, there are several factors or reasons for this. Most of them are in this state due to mismanagement, while some are only broke because they must have invested the money they have.

Some people have brothers that they are the ones sponsoring through school and that saps their money even though they earn big.

 

[freelancermaria]

Some people earn a good income but still go broke because they do not manage their money well. They overspend and fail to prioritize saving or investing.

 

[Fidelia]

The moment you don't sit down to plan how you spend your money, there is every tendency that you would go broke before the next pay comes in.

 

[Stardom22]

I always wonder whenever l see that kind of people. The people that earn so much are always very broke for sure.

 

[Nomad]

No matter how much you earn, if you are not saving and investing, and are always spending money, you will always remain poor.

 

[SilverLance]

It’s a reminder that earning a lot doesn’t always equate to financial stability, and budgeting plays an important role in building wealth.

 

[King Belieal]

Financial management is not about how much you earn. It is all about how one takes decisions that affect their financial lives.

 

[SilverLance]

Smart decisions can lead to better savings, investments, and overall financial health.

 

[Fire&Rain]

some people lack the ability to manage their finances properly. They end up being broke all the time yet the earn a decent amount of money.

 

[SilverLance]

Without a clear plan, money tends to disappear. Many don't track what they spend or set limits, so they lose control fast.

 

[Sanjeev]

That may be because that person doesn't spend his/her money wisely. There are lots of ways one can save money. It's better to save at least 30-40% of his/her earnings per month.

 

[Augusta]

Common sense here is that these people spends so much on things making it difficult to save money

 

[Kross]

Common sense here is that these people spends so much on things making it difficult to save money

Some of those people might not be careless or spend too much. They might just have a lot of financial responsibilities that they can't neglect.