Why the rich are running out of money


An alarming number of people earning $100,000-plus are spending more than they earn or living from pay-cheque to pay-cheque.

Financial experts around the country are reporting remarkably similar stories about people you would think were rich, who can’t make ends meet.

Among the experts are Auckland psychologist and accountant Lynda Moore, of Money Mentalist, who says she frequently finds couples spending all they earn, especially business owners.

Wellington financial adviser John Killick of FoxPlan says he has spoken to couples where both partners are earning more than $100,000, but who are finding there is no money left at the end of the month.


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