If you are always running out of money with your current income, chances are that you will have the same problem even if you earn more. Statistically, the more money you earn, the more money you’ll spend. This is called Parkinson’s Law. If you do not learn to manage what you have now, earning more money will not solve the problem.
Don’t be fooled by appearances. Many of those high income earners are broke. All of their income is going to pay for their big mortgage, the credit card bills, and the car loans. They are just broke at a different level.
April 2, 2009
