This bit, from the reign of James I, might give a clue:
"With this new relationship with Parliament and their seeming wish to grant subsidies, James became more and more extravagant. The splendour of Whitehall, when compared to the royal palace at Holyrood, convinced James that he was wealthy or that he had access to money from a generous Parliament. He became a lavish spender – his coronation cost £20,591. This was mirrored by his wife, Anne of Denmark. She developed a love of fine clothes and expensive jewels. James also believed that his three children – two boys and a girl – should also live in a manner befitting princes and a princess. James also gave away lavish gifts. One courtier who had worked under Elizabeth I, Sir Dudley Carleton, claimed that James gave away more in one year than Elizabeth had done in the whole of her 45-year reign. It is generally considered that James had great difficulty with understanding the most basic of fiscal responsibility. He would happily give away £100 without any thought if it was not in his possession, but he would keep a firm grip on just £1 if it was actually in his hand. To compensate for any requirement of money, James, like Elizabeth, sold off Crown Lands. This became such a problem that in 1604 and 1609, Cecil persuaded James to pass on the more valuable Crown properties to be run by the Privy Council."
"James I was not the first English monarch to experience financial trouble. Chief Minister Robert Cecil, the Earl of Salisbury, used numerous methods to bail out James who was a king who had little understanding of finance. Farming out custom dues and impositions were both used. Though they were successful in terms of the amount they raised for James, they both did not do a great deal to decrease the most pressing of James's needs - reducing his overall royal debt. Robert Cecil was therefore forced into doing something he least wanted to do - sell off Crown lands - as he knew that once land was sold, it was lost to the Crown and future revenue collection.Between 1603 and 1609 Crown land and property to the value of £400,000 had been sold. This so concerned Cecil, that he persuaded the king to entail the most valuable of Crown land and hand over its administration to the Privy Council. With a more concerted efforts in the collection of outstanding rent and debt, a total of £700,000 had been collected which should have had a significant impact on royal debt by 1610. However, for all the work done by Cecil, the Crown was still in debt to the tune of £160,000 by 1610. Cecil also had to cope with an extra £80,000 added to the total in 1610 as a result of James's extravagent spending. "