Updated: December 2, 2025
If you’re earning six figures or more every month, you live in the city, and you can afford the occasional splurge. Yet, despite your paycheck, you still feel miles away from calling yourself rich. If this sounds familiar, then you might be a HENRY.
HENRY stands for High Earners, Not Rich Yet. It’s a term used to describe people who earn well but don’t feel financially secure. Today, let’s break down who HENRYs are, why they’re struggling to build wealth, and how they can turn things around.
Who Are HENRYs?
HENRYs are usually young professionals in their 20s to 40s. In the Philippines, this could be someone working in tech, finance, law, or healthcare. You probably went to a good school, hold a degree (or two), and have a well-paying job—think P100,000 to P300,000 monthly.
But being a HENRY isn’t just about income. It’s also about lifestyle. HENRYs often live in cities like Metro Manila or Cebu, where the cost of living is high. They enjoy eating out, traveling, and investing in the latest gadgets. Unfortunately, these habits make it harder to feel like they’re truly building wealth.
Why Aren’t HENRYs Rich Yet?
1. High Expenses
Living in the city means dealing with skyrocketing rent, high utility bills, and everyday costs like Grab rides and overpriced coffee. Add to that the urge to keep up with the latest trends—new iPhones, staycations, or eating at the hottest restaurants—and it’s easy to see where the money goes.
2. Forced Breadwinners
Some HENRYs are breadwinners for their family, particularly their parents and siblings. Despite earning good money, most of it goes to the necessary expenses of at least four people living in a household.
3. Lifestyle Inflation
The more you earn, the more you spend. It’s tempting to upgrade your lifestyle as your income grows. Suddenly, what used to be a “treat” becomes your new normal—like weekly sushi nights or monthly shopping sprees at Greenbelt.
4. Saving Takes a Backseat
Many HENRYs focus on enjoying the now, which isn’t necessarily bad. But this “YOLO” mindset means saving for the future often gets pushed aside.
What Makes HENRYs Important?
HENRYs might not feel rich, but their spending power is no joke. Businesses and marketers know this, which is why they target young professionals with ads for premium coffee, wellness retreats, and luxury gadgets.
HENRYs also shape trends. Many prefer experiences—like traveling to Siargao or attending music festivals—over material things. They also care about sustainability, so they’re drawn to eco-friendly brands and ethical businesses. But for brands, there’s a challenge: how do you offer something premium without breaking the bank for your customers?
How HENRYs Can Build Wealth
If you’re a HENRY, the good news is you can shift from “not rich yet” to actually building wealth. Here are some tips:
1. Track Your Expenses
Create a budget that works for you. Finance apps or a simple Excel sheet can help you see where your money is going. Are you spending too much on subscriptions or takeout? Small adjustments can go a long way.
2. Prioritize Savings and Investments
Follow the “pay yourself first” rule. Before spending, set aside a portion of your income for savings or investments. Start with an emergency fund, then explore options like UITFs, mutual funds, or real estate.
3. Manage Debt Wisely
If you’re dealing with personal loans or credit card debt, create a repayment plan. Focus on high-interest loans first, and avoid borrowing more unless absolutely necessary.
4. Practice Tough Love
It’s okay to support your family, but don’t forget your long-term financial needs. Moreover, be careful not to make them co-dependent on you. Decline giving support if it means helping them become financially independent in the end.
5. Avoid Lifestyle Creep
It’s okay to treat yourself but don’t let your spending grow just because your income does. Set limits on luxury purchases and think twice before upgrading your lifestyle.
6. Seek Financial Advice
You don’t have to figure it all out alone. A financial planner, coach, or advisor can help you create a plan tailored to your goals—whether that’s retiring early, buying a condo, or starting a business.
Final Thoughts
Being a HENRY can feel like a financial paradox. You earn well, but between city living, debt, and lifestyle choices, true wealth feels out of reach. The key is to find balance—enjoy the fruits of your labor today while setting yourself up for a secure future.
So, are you a HENRY? If so, what steps are you taking to build wealth? Let us know in the comments, or share this post with a fellow HENRY! This post is your starting point to financial empowerment—because being “Not Rich Yet” doesn’t mean staying that way forever.
What to do next: Click here to start your financial journey with IMG Wealth Academy
