A lot of people in poverty up to the lower middle class haven't really had the opportunity to spend their money. They're used to living paycheck to paycheck.
It doesn't help that many people are born into poverty and their parents give them no financial education. Or, even worse, they give them horrible advice.
This definitely plays a big role. Living paycheck to paycheck does something to you.
One of my relatives who used to live that way told me, you get money and your first instinct is to spend it before it disappears. Literally, you want to go out and buy something before it gets sucked up by bills, debt, and whatever else.
When I used to live in the hood id see guys bumming cigarettes and being broke but theyd have on 500 dollar outfits everydsy and have 24 inch chrome rims on their car
Why do lotto winners and inheritance receivers squander their money?
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A lot of people in poverty up to the lower middle class haven't really had the opportunity to spend their money. They're used to living paycheck to paycheck.
It doesn't help that many people are born into poverty and their parents give them no financial education. Or, even worse, they give them horrible advice.
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Anonnet
1 year ago
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1WeirdGuy
1 year ago
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This definitely plays a big role. Living paycheck to paycheck does something to you.
One of my relatives who used to live that way told me, you get money and your first instinct is to spend it before it disappears. Literally, you want to go out and buy something before it gets sucked up by bills, debt, and whatever else.
When I used to live in the hood id see guys bumming cigarettes and being broke but theyd have on 500 dollar outfits everydsy and have 24 inch chrome rims on their car
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ermine1227
1 year ago
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You see, this is why they're still stuck in the hood.