Reply to What money habits keep you poor?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My kid was telling me the other day that the poor kids in school have all got $100 or $200 trainers, while many of the rich kids are wearing $45 sneakers.

Not of course a main reason that poor people stay poor, but poor choices on conspicuous consumption is not always irrelevant either.[/quote]

When you can never attain the big thing (house, neighborhood, full college tuition) you splurge on the small thing (sneakers, phone, clothes, maybe ever a more expensive car).[/quote]

Often it’s easier for them not to attain them: low income apartments in good neighborhoods and Pell grants or scholarships for college (or not going to one).
[/quote]

Yeah so much easier (eyeroll).[/quote]

I am one of the poor people I am talking about.
[b]It’s easier for me to qualify for Pell grants for my kid than earn say $60k per year and not qualify[/b][/quote]

If you were earning low enough to qualify for Pell Grants, your child would be growing up in a neighborhood where they would hear gunshots on a nightly basis, would lack basic necessities & wouldn’t be considering applying to college.[/quote]

It is a common misconception.
We live in affordable housing in a good school district.[/quote]

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