Being broke here is less about numbers than about a feeling of emptiness that somehow stays heavy. The speaker says that on nights without money they carry a purse full of impossible things. The purse is a nice contradiction: it holds nothing you could spend, yet it is crowded with wishes, worries, and things out of reach. The mind fills the gap where cash should be.
The second stanza moves from the purse to the body. The speaker undresses in the dark, alone, and compares themselves to a Dutch oven lying in the hands of rust. A Dutch oven is a sturdy cooking pot, made to last and to feed people, so picturing it rusting suggests something useful that is slowly being worn down by neglect or hard times. The image feels tired and a little ashamed, but also quietly stubborn. The mood is dim, private, and resigned, with a dry humor running underneath.