Iâ€™ve heard this before, and I wonder how true it is. When you make more money, you have more debt.
First thinking about that, I ask myself â€œHow could that be??â€
But when I think about it a little bit more, I think I can see how that can happen. When you make more money, you get used to a certain lifestyle. That lifestyle can mean accumulating debt in order to maintain it constantly. Just because you make $300,000 a year, it doesnâ€™t necessarily mean you can afford a $50,000 car without taking out a loan.
Now, if Bill Gates has debt, I would be SUPER surprised 🙂