I Make Good Money. So Why Am I Broke? (And Why That's Actually Fixable)

Q: I make $110,000 a year and I'm drowning. My wife and I have no emergency fund, we're adding to credit card debt every month, and I genuinely don't know where the money goes. We're not living in a mansion or anything—modest house, two cars that are paid off. How is this possible?

—Derek, 38, software engineer

Derek, I'm going to be direct: you're not bad with money. You're bad at paying attention to money. And here's the good news—that's fixable in about 72 hours.

Six figures disappears fast when you're not watching. It's not because you're frivolous (probably). It's because you've never actually looked. Most people don't. We pretend money is boring, we'd rather think about literally anything else, and then we get surprised when $110k vanishes like it was never real.

Here's what I bet is happening: subscriptions you forgot about ($200/month). Restaurant meals and coffee runs that feel small individually but add up to $1,500/month. Maybe some family loans you're too embarrassed to count. A hobby supply addiction. Pickup fees. Delivery fees. All the fees. Plus your utilities and insurance and phone bill keep creeping up because you never shop around or call to negotiate.

You probably also have no system. Money comes in, bills get paid, and the rest just... evaporates. No budget. No tracking. You're flying blind.

Here's the one thing you need to do this weekend:

Pull your last three months of credit card and bank statements. Print them or open them side by side. Highlight every single transaction. Write down categories as you go—groceries, restaurants, subscriptions, gas, whatever. Don't judge yet. Just look. Most people find $500–$1,500 in waste within 30 minutes of actually paying attention.

You'll find recurring charges you forgot existed. You'll see the pattern of how you spend when you're tired or stressed. You'll get angry at yourself, which is good—that's motivation.

Then pick the three biggest offenders and kill them. Not all of them. Just three. If restaurants are $2,000/month, commit to $800. If subscriptions are $300, cut it to $75. If you're hemorrhaging money on delivery, meal-prep one day a week instead.

With $110k income, you should absolutely have a $1,000 emergency fund built in the next month, then be aggressively paying off that credit card debt within six months. You're not broke. You're just not paying attention.

Start this weekend.

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Disclaimer: I'm a columnist sharing practical perspective, not a licensed financial advisor. For your specific situation—especially regarding debt payoff strategy or investment decisions—consider talking to a fee-only financial planner who doesn't commission on products.