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The cycle of money comes in and goes out. The amount of income depends on how hard we work, and expenses also depend on how extravagant we spend.
The size of your income isn't always determined by how hard you work - it depends on what kind of work earns you the most. Manual laborers work harder than regular employees, but their monthly income varies, employees tend to earn a more stable and higher income.
It could also be said that no matter how much income we have, if our expenses are much greater, it will eventually run out. So I quite agree with your opinion that no matter how much money we have, if we are a chronically addicted gambler, we will eventually go bankrupt. There are many cases of businessmen going bankrupt and losing all their wealth due to gambling addiction.
Financial balance is needed - you must have lower expenses than income.
Poor financial management will certainly cause problems. While a deficit isn't always a bad thing, if managed well, a surplus can certainly be achieved. However, this also depends on your income. Many countries still have low average incomes and are being hit by inflation.