In today’s time, it is very common to hear people say, “I earn well, but still I feel poor.” This feeling is not limited to those with
low income, even people with decent salaries are experiencing it. The question is why? One major reason is the rising cost of living. Everything from food to education, healthcare, and housing has become expensive. Even basic necessities are no longer “basic” in terms of cost. Salaries may have increased over time, but expenses have increased at a much faster rate. So, in reality, the purchasing power of people has gone down. Another important factor is lifestyle inflation. As income increases, expectations and spending habits also change. People shift from needs to wants without even realizing it. Earlier, owning a simple phone was enough; now, there is pressure to buy the latest smartphone. Similarly, dining out, vacations, branded clothes, and luxury items have become part of normal life. This constant upgrading of lifestyle creates financial pressure. Social media also plays a significant role. Every day, people are exposed to others showcasing their “perfect” lives, expensive trips, cars, houses, and achievements. This creates a comparison mindset. Even if someone is doing well, they start feeling inadequate because someone else appears to be doing better. This comparison leads to dissatisfaction and the illusion of being poor. Another issue is lack of financial planning. Many people earn well but do not manage their money properly. Savings, investments, and long-term financial security are often ignored. Instead, there is more focus on spending in the present. Without proper planning, even a good income can feel insufficient. Furthermore, responsibilities have increased. Supporting family, children’s education, medical expenses, loans, and EMIs all add to the burden.
Especially for middle-class families, a large part of income goes into fixed expenses, leaving very little for savings or personal comfort. There is also a psychological aspect to this feeling. Earlier, people were satisfied with what they had. Today, the definition of “enough” keeps changing. No matter how much one earns, it never feels sufficient because desires keep expanding. My father often tells me that we were happier in our younger days even though we had less
but our desires were limited.
Feeling poor despite earning well is not just about income, it is about rising costs, changing lifestyles, social comparisons, and financial habits. The solution lies not only in earning more but also in managing money wisely, controlling unnecessary expenses, and learning to be content with what we have.
Writer:
Assistant Professor, Commerce and Management
Guru Kashi University Punjab.