Reply to Why is "money management" always brought up and used against the poor?

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[quote=Anonymous][quote=Anonymous] I would agree that a lot of people across income levels are terrible at managing money and keeping a robust savings account. My husband and I keep an emergency fund at all times of over 10,000.

[b]I'm not poor but my husband's family is rather poor and one thing I've noticed is that when you don't have savings you often live in this web of mutuality with friends and relatives where you know you can go and borrow money from  from a relative. It's been very awkward because my husband doesn't really want to lend out money to his family anymore but he still does it on occasion because he feels obligated to them. [/b][/quote]

I grew up blue collar, and this is exactly why you don't let relatives know what your financial situation is.  If they know you have money saved, they'll think nothing of asking to borrow it.  It's also why you set firm boundaries.  It's very difficult for even industrious people to get out of poverty, and part of that is because as soon as you get slightly ahead, other people can easily pull you down.  It's not even that those other people are bad people, and often you love and care about them, but without even realize they are doing it, they can sink you.  Some people say it's a web of mutual help, but in a way, it's a web that kind of keeps them all from moving ahead.  [/quote]

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