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]

Not quite.  This may be an outlier, but my DH went to college on a Pell Grant.  His parents were immigrants.  His dad was an engineer and they lived in a safe middle class neighborhood.  (Maybe the neighborhood is no longer safe due to the rise in crime since the 1980's and 1990's, but it was safe at the time.)  DH's father became unable to work due to a disability, and then DH's mom decided to get divorced.  DH and his sister and father lived in a safe middle class neighborhood prior to the disability, and continued to live there (albeit barely) after the disability.  My DH went to a top college and top law school, and now is successful.  DH's family legitimately did not have any money, despite living super frugally.  But they were not trashy at all -- they read books, took pride in their home, were pleasant neighbors, and supervised the kids closely.[/quote]

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