What to Do When You Feel Broke With a Six-Figure Income – EP 328

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In this episode, Jen and Jill delve into this thought-provoking subject: the feeling of struggling financially despite having a substantial six-figure income. Join us as they discuss the mindset behind feeling “broke” and explore why it seems like our income never quite measures up to our expectations. 

Surround yourself with positive people, and maybe not even positive, but just people who inspire and motivate you to be more of who you want to be.


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How to Make a Six-Figure Salary and Still Be Broke

Down with the broke blues? This article from Doughroller has relevant and realistic insights on why you’re feeling broke.

What Jen + Jill have to say:

Jen and Jill discuss the reasons behind the ‘broke’ feeling despite having a six-figure salary, highlighting the impact of living in costly areas and income disparities between regions. Jen emphasizes the power of choice in housing decisions, advocating for mindful budgeting to prevent being ‘house-poor.’

On the other hand, Jill discusses lifestyle inflation, sharing her own challenges in managing increased expenses with rising income. Addressing high-interest debt, Jill explains its hindrance to progress, while Jen adds the emotional weight of student loans, stressing the need to prioritize reducing high-interest debt. Ultimately, Jill advises understanding the reasons for the ‘broke feeling’ and accurately assessing your earnings to regain financial control.

5 Ways to Repair a ‘Broke’ Money Mindset

This guide by Cashay provides simple but effective mental health-centered solutions on how you can improve your ‘broke’ money mindset.

What Jen + Jill have to say:

Jen introduces gratitude as a tool against impulsive spending, suggesting the use of a journal. Jill sees it as a ‘great reset’ against discontent and both stress taking control of life amidst uncontrollable circumstances. 

Meanwhile, Jill advises balancing present worries and future goals for your desired lifestyle. Jen suggests surrounding yourself with positive, inspiring people, like her and Jill, who bonded over frugality, gradually shaping you into your desired self.


What do you do when you get the feeling of being broke?

The first thing Jen does when she feels broke is make a budget. She usually doesn’t do spreadsheets, but when she feels anxiety about being broke, this is when she makes a new plan to see what the spending is telling her.

Jill agrees, saying she’s similar to Jen because she wants to act on feeling broke. Part of her process is identifying the source, determining if it’s her circumstances or just her mindset, and this will inform her of what her response is going to be.

Bill of The Week

Thank you Alyssa for sharing your bill about moving and living in a lower cost-of-living area AND aligning your finances with your values. Good luck paying down your car payment!

Thanks so Much for Listening!

Thanks so much for listening! We love love love reading your kind reviews and we especially loved this one:

Great hosts and Great Discussions

I enjoy listening to the hosts. Their conversations are very fun to listen to and they share very fun and practical tips that I can use.

Their conversations with the guests are very insightful and I get a different perspective when it comes to financial insights.

Thanks for listening and if you want to check out our monthly challenge community head to frugalfriendspodcast.com/club to see what challenge we have coming up next.

Keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to reviews@frugalfriendspodcast.com. And don’t forget to share your favorite quote from the episode by using the hashtag #FrugalFriendsNote. 😉

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