I have my city just playing on my workstation computer (and that's no problem, because Cities: Skylines is so very fun that I can just leave the city up on the screen like a screensaver and it looks absolutely beautiful). I even posted several screenshots of that. MINUS So the unlimited money cheat only just hides your money and does not do a fundage check.
On the flipside I have no clue what you guys are doing but I started running a 300K profit at some 7K people. by the time you hit City lvl 10 that's a drop in a bucket but the -1Mil you'll be running if you don't organise won't be. eventually you WILL go broke because a building like a Recycling Center will cost you a nifty 1Mil to plop and then around 200K upkeep to keep running properly whilst only netting you 300Xp.
each milestone, like in an RPG, will get harder and harder to reach whilst you are hemoraging money. Im finding money completely pointless in this game. Ya i really dislike this system, they have implemented. Maybe things get more challenging on a larger scale, but right now i have a city with >10K people and over $3M in the bank despite running a deficit. The only reason you'd run out of money is if you are just sitting there letting the simulation run without doing anything for years. even if you are running a deficit you seem to get lots of cash injections for achieving certain things.