Meaning of the word "great spenders are bad lenders" in English

What does "great spenders are bad lenders" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

great spenders are bad lenders

US /ɡreɪt ˈspendərz ɑːr bæd ˈlendərz/
UK /ɡreɪt ˈspendəz ɑː bæd ˈlendəz/
"great spenders are bad lenders" picture

Idiom

people who spend money extravagantly or carelessly are usually not reliable when it comes to paying back borrowed money

Example:
I wouldn't trust him with a loan; remember that great spenders are bad lenders.
He lives a lavish lifestyle but never pays his debts, proving that great spenders are bad lenders.