Why Do People Who Get Rich Quick Go Broke Quick?

Do you know of someone who became an instant millionaire, but it wasn’t long before his or her money disappeared, and this person just went back to square one – to being broke and poor again?

Do you want to know why these things happen so that the same thing will not happen to you?

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If you answered yes, then sit back, relax, and read on!

One of the reasons why wealth suddenly and instantly disappears is…


Everyone wants to get rich quick. None of us wants to ever have to go through difficulty and challenges. And in fact, this is exactly why we want everything instant in this life – instant noodles, coffee, instant fame, instant family, and whatever other instant things.

And because for some people, their wealth was instantly acquired, their mindset is that they can easily earn money anytime. They didn’t have to go through any hardship or difficulty to earn the money, they didn’t have to shed blood, sweat and tears for it, and this is exactly why they have put very little value in it. They became complacent with their spending, and as a result, they somehow managed to spend everything.

“Easy come, easy go.” People who don’t put in any hard work will most likely skip due process and go for the shortcut. They will most likely want to just “chill” and simply wait for the success to come.

Another reason why people suddenly go broke is…


Because they acquired their money instantly, they were so shocked! They were so surprised!

They were in such a high, in such an adrenaline rush that they were not able to contain themselves. They went on an unplanned shopping spree!

Maybe it’s been your dream to be rich, but you still haven’t made any plans on how to take care of this future wealth. Remember, “If you fail to plan, you plan to fail.”


Some people had a negative experience with being in poverty that they don’t ever want to go back to it. And so, the moment that they were able to acquire even just a little bit of wealth, they immediately and dramatically changed their lifestyle. All of a sudden, their perspective about their life changed! It’s as if they are staring to say, “This is my time to avenge myself.” And so, everything that they once never could afford to eat, they suddenly started eating. Everything that they once were not able to buy, they suddenly started buying. They went out of control.

What’s worse is that because they became so used to that lifestyle already, when they finally ran out of money, they chose to borrow money so that they could keep up with their lifestyle.

Now that we already know the reasons why people who get rich quick also go broke quick, what can we do to avoid going broke quick?


The journey is important. The journey teaches us about the process, and the process makes us acquire good traits like patience and perseverance. It is these traits that help us to make our home a SUCCESS ZONE, and not just a “success museum” that we rarely visit.

And besides, isn’t it that it feels so great to achieve something you worked hard for?

And then when it’s already in your hands, you can proudly say, “Guys, this is the result of my blood, sweat, and tears!” Wow!

And because you worked hard for it, you will take care of it and value it.

In addition, we should…


If we really want to prosper, we need to have a great plan in handing the abundant blessings that we’re waiting to receive. And one good plan is to make a BUDGET.

Your budget is the best guide for you to know which of your expenses should you pay first (needs), and how much of your money are you ALLOWED to spend (available funds).

Whenever you are creating a budget, BE HONEST. Will you really put it in your budget? Or can you actually do away with it? You might in your budget: new cellphone. Wait a minute, your current cellphone is still working! Don’t allot a budget for a new cellphone if you just want the latest iPhone features.

Another reason why we need to create a budget is TO MONITOR your available funds. If you don’t know your limit, you will keep on drawing out more and more money until you have no more money left to draw out!


Are you tempted to take a shortcut in this road to prosperity?

What are your plans when it comes to taking care of the blessings that you are currently experiencing in your life?

In your opinion, are you ready for a prosperous life?

(Chinkee Tan is a top Filipino motivational speaker, wealth and life coach whose goal is to inform, educate, motivate, and disturb. His vision is to help people become financially-literate and debt-free. For more info about Chinkee Tan, please visit his fan page at FB, Twitter and Instagram. Also follow VIBER PUBLIC CHAT GROUP search chinkee tan, and VISIONCHINKEE on You Tube for more news and encouragements.)

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