Much of how solvent or broke you feel is about the disposable, what you have left after what you have spent on essential costs is subtracted from what you earn.
Back in the 1980’s my SIL was always complaining that she was broke to her retired parents. I did a bit of research on the subject. I worked out what she was receiving living totally on benefits with one child as a single mother, what the parents, who were retired on his state pension but who owned their own house outright had to live on and what we earned. My DH and I both worked with reasonable salaries (teaching, local journalism) and had a mortgage.
It turned out that all three sets of people had almost the same disposable income. The tax and benefits system evened things out.
There are two more aspects I have observed to whether people feel broke or well off.
The first is spending habits. Some are in control of what they spend and are prudent and some let their spending run away with them thoughtlessly. The careless spenders always feel broke and, when they have spent on ephemera like socialising, holidays and eating out, look with envy at those who spent their money on appreciating assets like houses and cars, forgetting that others have foregone treats to afford them.
The other aspect of attitude to money is that of personality and ability level. Some are content and grateful, some envious and resentful. Some people can do the sums about income, outgoings and future commitments, some feel rich at the beginning of the month without realising a big bill is due. I know some individuals who are ‘forever poor’ in their heads who cannot manage their incomes because they ‘have’ to have new, expensive clothes or whatever. In contrast, others never buy anything unless it is in a sale or yellow stickered. The imprudent often think their choices are necessities.
My DH and I are retired now and watch a programme called ‘Rich House, Poor House’ about those in the top ten per cent of income swapping lives with those in the bottom ten percent for a week. We realised that, in our earlier days, we were in the top ten per cent ourselves and now, retired and redundant, are in the bottom ten per cent. To be honest, our lives are not that different. We saved and lived frugally when we were rich and avoided debt. We had no luxurious habits to miss and no debts to crash our plane. Nearly all of our pleasures were and are free: reading, walking, nature, art and reading and we make do and mend on our house.
This is to pay no disrespect to those who, like us, fall on hard times. I know from my childhood what it is like to be in a house with no money at all and it is tough and grinding.