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August 01, 2006
Debt Burdens Are A Problem For High Earners Too
We have a job where we earn more money than we'd ever dreamed possible, or perhaps we inherited a large sum—or even won the lottery.
We always thought if we just made a given amount every year or won a chunk of cash, we'd be okay.
We'd be happy. But we find the more we make, the more we spend. And we're still not happy.
What happened?
When our appetite is always bigger than our bankroll, we remember to treat the true source of the problem.
When by reasonable standards we make plenty of money but our spending and income increase proportionately, we question our thoughts about money, our spending patterns, and our needs: emotional, physical, spiritual, and mental.
No matter how much you make it is possible to sink yourself in major debt.
When the money starts rolling in, stop and question each and every purchase decision.
Pay special attention to your emotional state when the temptation to take on loans kicks in.
Making more money can actually put you in a debt burden that is insurmountable, especially if that large income vanishes.
Trust me on this - I know from experience! Yes it is possible to make over $500,000/year and still be a financial wreck!
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