Most people dream of being wealthier than they are, but for some, these dreams can turn to financially devastating delusions.
Financial Expert Eoin McGee told Lunchtime Live that while we are all prone to over or under spending, it can be a cause for concern when a person turns to extremes.
“It’s a spectrum from one extreme to the other,” he said.
“You might say, ‘Oh god, isn’t terrible accumulating debt’ and some people – and I don’t want to diminish it in any way – but some people at least are getting to enjoy their life.
“People do have an attitude of borrow, borrow, borrow, ‘I could be dead tomorrow’ type of thing.
“The other end can be absolutely gruelling where you’ve got plenty of money, you have absolutely no reason to worry about money, but yet you won’t spend a penny.”
Mr McGee said these behaviours can often manifest when a person’s financial status changes drastically over a short period of time, as their spending habits may take more time to adjust.
You can listen back to the full episode here:
Main image: Man with many bills or invoices and no money. Alamy 2024
