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Agree, I'm a software engineer with naturally pretty good pay, yet I'm always broke. It's 99% to blame on my spending habits, which have increased equally with the increase of my salary over the years. A problem I am, and everyone should, aim to fix.

Actually from a financial perspective, wealth is assets you own (equivalent to equity + liability). People with high net income should be investing as much as possible to let the money flow in the market. If everyone saves with no intention to invest/spend, it would potentially result in a stagnant economy.

Savings rate is the amount remaining after deducting expenses for consumption. It includes long-term investment.

Investing != spending

Actually, cash flow beats cash. Cash is also a liability but a large enough steady source of income is very hard to beat. That's one reason why so many people that have cash try their hardest to turn it into a stream of recurring revenue that they can then live of without hurting the principal.

...and that principal is your wealth.

So to summarize:

Use your career income to accumulate wealth that will provide your income without your career.