Why did King James need to raise money?

Answer with Explanation

King James had little money and he believed that all royalty should have a magnificent lifestyle and that the country must implement the most of that was important for words of value. King James also believed that his family ought to have the freedom to exist in similar luxury and expected even better life after he was crowned as a king. By raising money, he would be able to live a good and comfortable life as he mentioned he was a poor man wandering about for forty years in the wilderness.

In "The Petition of William Cobbett" in volume 33 of his political register, the author clearly refers to King James as "The Oppressor", who has raised money on arbitrary means and is not administering in a way it benefits the citizens of the kingdom. It is mentioned that King James raised the money in order to fund affairs regarding "army, navy and civil listing".