Most people are already aware of the types of factors that are most likely to make you more prone to getting into debt, these things usually depend on characteristics such as your age, income, whether or not you have children and whether or not you happen to be fortunate to own your own home. However, regardless of your age, income or number of children you have, undoubtedly, we all have the capacity to find ourselves in some form of debt at some point or another in our lives.

If you’ve got a high-earning and highly regarded job, then you might think that you’re safe and secure from finding yourself in masses of debt and maybe in the majority of cases you’d be right. However, have you ever thought to consider that your high-flying and stable profession could have the potential to make you even more likely to get into debt?

In this article, we will discuss 5 of the most top-earning positions that are the most likely to get you into debt and why.


Celebrities, now this may or may not be a big surprise to you, but it’s true, and it can happen to all manner of different types of celebrities, from Hollywood actors to Z list reality TV starts, debt doesn’t discriminate! The reason why stars are one of the highest earners but also one of the jobs that have a considerable risk of ending up with them in debt is because of a few reasons.

The first being lifestyle and spending habits, obviously with wealth comes the opportunity to purchase goods and services which were not readily available to you before your new founded wealth. A lot of celebrity’s struggle to balance their incomings and their spending habits, which can see them dwindling down their savings and hard-earned cash very quickly.

Also, a lot of stars find that unless they’re extremely sought after and see themselves having job after job lined up for them, then they’ll usually have to wait in-between employment and make their money last as they aren’t always sure when their next big project will turn up. If the celebrity fails to account enough money to cover their spending habits and the upkeep of any houses, properties or businesses, then they do have the potential to get themselves into debt.

In addition to this, for television and film stars, such as actors and presenters, it’s natural and not uncommon for them to fall out of popularity, be replaced or even just not be called up for work in the industry anymore. If they have not accounted for this to happen or saved and spared enough, then they are only left with the option to either sell their assets and possessions or end up in financial difficulty.

Doctors and Nurses

There are a large variety of different doctors and nurses who currently live and work in the UK for the NHS and private medical and healthcare services. Regardless, all doctors must have a University degree and education which doesn’t come cheap

If you are training to be a General Practitioner, then generally this will see you spending at least 10 years in education, whereas to become a Surgeon, will mean a 14-year stretch studying; then you could be looking at coming out of University or Medical School with around £90,000 to £126,000 in student loan debt. Unless you are fortunate enough to be able to afford the fees yourself.

The same also applies Nurses, although they don’t have to study for as long as doctors, they still have to go to University or Medical School for at least 7 to 9 years to become a fully qualified nurse, which could still end up leaving you around £63,000 to £81,000 indebted to student loans.

The average salary for a General Practitioner is around £44,000 per year, whereas Nurses who generally earn around a £30,000 salary each year. Meaning that even with your student loan repayments, it would still take a medical student over 30 years to repay their student loan debt that they accumulated, after which the rest of your student loan would be dismissed, unless, you started your course or degree before 2012. In which you would not be on Plan 2 for your student loan repayments and would, in fact, have to pay less money in student loan fees, but there is a possibility that your loan will take longer to be wiped off.

Professional Athletes

There’s no surprise here that during their sporting career, many athletes are able to earn a very high income depending on their ability, and even some of the lesser ability athletes are able to secure themselves an income that is well above the £27,000 national UK average salary. However, they do have the possible tendency to find themselves in debt once their sporting career has finished, and this is a few reasons.

Reason number one is that they accumulate the spending habits in their career that they find hard to break once their careers finished, as well as supporting any investments or businesses which require funding but which may not have returned the same amount of money that was put into these schemes.

Reason number two is the abrupt manner in which they find themselves injured and forced into retirement. A lot of sports careers end in accidents and injuries, very rarely a sports person will be able to retire from their chosen job without having suffered any serious injuries during their sports career. However, if a sportsperson does find themselves with a severe injury that has the potential to put an end to their career, it generally happens very suddenly, and if they haven’t taken sufficient enough methods to see that them and their finances will be safe, then it could have some serious financial implications.

The final reason follows on from the previous, but if a sports person endures a specifically horrible injury that will require constant treatment and surgery, then this also is a factor that could get them into debt. Medical bills and surgery aren’t cheap unless you’ve been insured, have private medical care or wait for your surgery on the National Health Service if you are an athlete in the UK. Otherwise, it can turn out to be quite a hefty sum.

Property Investor

Property investment has been vastly popular for well over a decade now, with many successful property investors returning huge profits from the sale or rent of their purchased properties. However, it can be risky and can leave you in facing huge debts if not done correctly or if the market crashes and you find yourself with a property that isn’t worth what you paid for it in the first place.

Many property investors invest in property to which they believe will either make a steady profit when it comes to selling the property after a few years, but they can also renovate and/or rent out properties for a quicker source of income than just waiting for a property to increase in value over a few years. However, if the property that has been purchased fails to turn over a profit if the housing market crashes or you fail to find someone to rent out your property, then you could end up in financial troubles. Especially if the majority of your savings is wrapped up in property, and housing prices fall, then you’re looking at a considerable loss and the possibility of taking out credit to cover the costs.

Restaurant, Bar and Pub Owners

(Although, it is worth mentioning that this can apply to other businesses as well, however in this section we’ll mainly be focusing on the owners of pubs, bars and restaurants to make our point.)

Now, don’t get us wrong, but there are plenty of bars, pubs and restaurant owners who are able to establish a fantastic name for themselves and who are able to turn over huge profits at the end of each month; however, this isn’t the case for all bar and restaurant owners. Generally, this is because there is so much competition in the hospitality world. Think about it, you can walk anywhere in a town or city without being in the vicinity of at least two or more places to eat and drink? Exactly, the competition is high and sometimes being a big brand doesn’t even keep you clear from debt.

In order to become a successful proprietor of a pub, bar or restaurant, you’ll have to ensure that not only do you choose the right staff to help you pull off your success but also provide great produce, service, food and drinks. But you’ll also have to ensure that you choose a good location where a lot of people are likely to visit your venue as there’s no point in you opening a fantastic, lively bar which is able to hold 2,000 people in capacity in a quiet tiny village that only encompasses around 500 people, it doesn’t make sense. You’ll need to find yourself a prime location in an area which is likely to see the majority of the population of that area visit your business and be happy to pay your prices, which can be a significant investment into the venue itself before you’ve even managed to open your business.

Generally, it takes businesses a while to be able to turn over a profit, as the money that you have invested in your business will take a little while to compensate for. You’ll find that first, you’ll need to break even, then you can start implementing tactics which will then help you to turn over a profit, but it can be an elongated and steady process. This can take you a while to do so, and if you don’t have enough money to keep yourself, don’t provide great food, drink or services and can’t keep your business afloat while trying to establish your business, then you may find yourself in a lot of debt.