Unfortunately, being poor is a financial status that is often met with prejudice. Many myths and misconceptions surround poor people, so we’ve decided to set the record straight by sharing these 17 things people get wrong about being poor.
People are born into poor finances
While many people grow up in poor households, not all poor people have poor parents. Many rich parents don’t support their children, and many poor parents raise children who become rich! So, it’s a misconception that money reflects how you were raised.
They lack ambition
There is a prejudice that poor people lack ambition, but that couldn’t be further from the truth. There are many reasons why people can’t fulfill their potential and gain the finances they deserve. Following your dreams is a privilege that not everyone has, so try not to judge people for it.
Poor financing
It’s a common thought that being poor is connected to being bad with finances. While this is sometimes the case, Slate explains that the poor often outperform the rich with financial decisions as they can’t afford to be irrational spenders. They are more prone to budgeting and understand where their money is going.
Undesirable educations
You could receive the best education on Earth, but there is still no guarantee of wealth. While a decent education helps you obtain some of the highest-paying positions, multiple influences impact your earning potential. In fact, many poor people get the best scholarships, all thanks to their brains.
They shouldn’t eat out
Being poor doesn’t mean you can’t enjoy eating out. In fact, eating out is all the more enjoyable for the poor since it’s a rare occasion. It may involve saving up or sacrificing something else in the budget, but everyone deserves a nice meal out from time to time.
They rely on handouts
Many people on the wealthier side of society think poorer people want handouts. In fact, those with a lower income are often proud individuals who won’t take help from others. Sadly, there’s guilt associated with taking handouts, so these people will never expect something for nothing.
Can’t escape the cycle
The wealth cycle is one that you can get trapped in, but there is a misconception that poor people can never escape it. That’s not true; there are many reasons why poor people end up with that income standard, but if you put your mind to it, you can achieve anything.
It’s their fault
There are many roads to poverty, and it isn’t always someone’s fault. Upbringing and disability are huge factors, but marriage breakdowns are also one of the most common reasons. Don’t always assume that it is someone’s fault that they’re poor; they’re probably trying their hardest.
Getting a job is the solution
Additional work will certainly help someone who is poor, but it’s not always a solution. These days, expenses are soaring, and extra income will not always pull people out of their situation. In fact, the New York Post points out that in many states, welfare pays more than many middle-class jobs.
They lack passion
Another thing people get wrong about being poor is that it leads to a lack of passion and direction. In contrast, it may be that passion and purpose are keeping someone poor. Many creative industries and non-profits have extremely low incomes, but a true passion for them keeps people pursuing these paths.
They’re on welfare
Not everyone who is poor is also on welfare, yet many people falsely believe this. Lots of hardworking people don’t claim any benefits at all, yet they’re poor due to unavoidable expenses, high costs of living, children, and debt. So, don’t insult someone by telling them to ‘get off welfare.’
Mountains of debt
Many people get it wrong by thinking that poor people have a mountain of debt. Anyone can fall victim to the traps of debt, but poor people often budget well and will only buy what they can afford. Plus, the poorest don’t have the extra income to afford debt repayments, so they’ll avoid it.
Living paycheck to paycheck
According to Bankrate, up to 63% of Americans are living paycheck to paycheck. Although it could easily be thought that this is restricted to the poor, many people with higher incomes also experience this. Poor people usually know how to work with a tight budget, whereas rich people are prone to overspending.
They never plan long-term
The wealthy are often considered to have long-term plans for their finances, unlike the poor. On the contrary, poor people often have financial goals, whereas rich people get complacent. Just because someone is poor doesn’t mean they always will be. They may be studying, climbing the career ladder, or paying off debt.
They’re lazy
Poor people are often the hardest workers; their financial situation may just be a phase of life, or another factor may hinder them. However, being lazy is not the reason most people are poor. In fact, poorer people will happily take on jobs that wealthier people are too lazy to consider.
The poor are illiterate
Although illiteracy is one factor that can impact someone’s earning potential, it’s ridiculous to believe that all poor people are illiterate. Many are highly intelligent and, unfortunately, have found themselves in circumstances that keep them poor. Assuming such a thing is nothing but snobbery.
Poor people are less happy
Finally, poor finances can often affect mental well-being, but some poor people are a lot happier than the wealthiest. Being poor doesn’t always mean you have low mental health; many appreciate the small things and live in the moment more, while CNN finds that the rich often have “Scrooge-like pride”. We’d rather be poor but happy!
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