There's an old adage that keeping money is a lot harder than making it. You friend appears to prove this adage true.
I've noticed Asians are a lot better than Westerners in this respect. My (Indian) wife has more than doubled her salary since I've known her, but her outgoings have gone up by about 20-30%, and that includes having a kid. The first time I made some decent coin (a long time ago back in my early 20s), I promptly blew it and ended up in debt. I'm glad I learned that lesson early on, so as not to repeat the mistake.
Oh yeah, been there. When I first had success I just kept buying badass cars! Then I had to sell an old fb ads account in order to pay my income tax on time, and I was like wtf is my problem... so i got shit together and it's different these days. I'm just lucky I didn't have to get rid of any of my toys... got enough for a while and am focusing on saving while also building my SAAS business. (FUN as hell by the way, talking with real people who are my customers, who I want to help, who love my product or dislike it but give great feedback, etc... so fulfilling!)
Yes, asians are typically better about saving money... There's always that Korean family in every rich neighborhood who bought his house cash after he moved from Korea hahahaa....