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How poverty changes your mindset

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Re: How poverty changes your mindset

#281

Post by technofiend »

dizzystar wrote: post #254
RandomCSGeek wrote: post #246

Earlier quoted context omitted.

During my childhood, my father's most of the income went into repaying loans. Luckily, we had our own house, so we didn't need to worry about getting homeless. But I remember I rarely got to spend money on any kind of "luxury". By luxury, I mean simple stuff like a icecream cone or a baloon. The effect it had on me is quite wierd. On one hand, I always wish to earn more so as to not have to go through that phase agai…

Yeah, I totally get this. I have no idea why people want stuff. I have one computer, one phone, one guitar, and so on. If I could own just one set of clothing, I'd be happy with that. It isn't frugality for me, it's just that I can't stand clutter and really, what I consider. I think I missed whatever the definition of having things means.

At some point you own enough things that they own you. You can't do anything without taking all that stuff into consideration. This can make for a difficult situation if you and your partner don't agree.

My ideal living situation is an empty house; my wife feels most comfortable surrounded by things.

Re: How poverty changes your mindset

#282

Post by throwaway1748 »

psyc wrote: post #236
throwaway1748 wrote: post #207

Earlier quoted context omitted.

Not seeing the comment you're referring to. But my point is that a broader cultural phenomenon is occurring where successful folks are demonized and individual accomplishments are considered more a function of one's 'privilege' than hard work.

Hard work is one of those things that's necessary, but not sufficient, so it all but begs for survivor bias. It may well have been the case in the past, when the economy was less abstract, that hard work could translate directly into material necessities (provided you were privileged to own land!) As far as I can tell, that's simply not the case in a society like this one.

I don't understand how that's not the case today. I grant you that there are a small percentage of folks who in such a disadvantaged position where this wouldn't be possible, but a lot more could follow this advice and get ahead: learn how to code. That could take a number of forms, whether it's online training, coding bootcamps (some of which are free until you land a job), or studying computer science in college / community college.

Re: How poverty changes your mindset

#283

Post by [deleted] »

jjeaff wrote: post #176
maxxxxx wrote: post #115

Earlier quoted context omitted.

That would only be true if the goods minimum wage workers produce are being bought only by minimum wage workers. In reality the price also goes up for incomes above minimum wage so in a sense raising the minimum wage is a transfer of money from higher earners to lower earners.

In reality what happens, is those jobs go away (jobs like retail) and they are replaced with slightly higher paying jobs (like Amazon warehouse worker) except at a rate of about 1 new job for every 10 previous jobs.

[deleted]

Re: How poverty changes your mindset

#284

Post by [deleted] »

jjeaff wrote: post #176
maxxxxx wrote: post #115

Earlier quoted context omitted.

That would only be true if the goods minimum wage workers produce are being bought only by minimum wage workers. In reality the price also goes up for incomes above minimum wage so in a sense raising the minimum wage is a transfer of money from higher earners to lower earners.

In reality what happens, is those jobs go away (jobs like retail) and they are replaced with slightly higher paying jobs (like Amazon warehouse worker) except at a rate of about 1 new job for every 10 previous jobs.

[deleted]

Re: How poverty changes your mindset

#285

Post by rajarsheem »

One thing that looks paradoxical to me: In the first half it says people going through financially stressful situations suffers from deficit in IQ level and drop in cognitive performance. But at the same time, they can take smart and wise decisions as the experiments suggested.

Re: How poverty changes your mindset

#286

Post by pvaldes »

linkmotif wrote: post #99
kraig911 wrote: post #69

I hate seeing people's comments on stories around this topic. I grew up in poverty and food stamps from time to time. My dad was a roughneck and when the oil bust happened in the 80's there was a time we lived out of our car -- my whole family. here was literally nothing to do in the oil patch during that bust. There was literally no work. But people don't understand true hopelessness. My dad did everything he could…

I don’t think there’s necessarily a conflict between having empathy for people unconditionally while still asking questions like: if times were at one point good or OK but you’ve fallen into hard times now, why did you not have savings? People ask these questions because being miserly to save is hard and unpleasant, and then when others seemingly haven’t saved, it’s emotionally difficult helping them. I see people us…

The ant and the grasshopper is a just a gross simplification.

Both are strategies that can be valid and work in different sceneries. When you spend some money you create a social net, maybe you have more friends or hang with more people that could help you in troubled times. For the "ant" people, the colony (family) is all. Can't trust anybody out of that circle, so saving the money is the correct and only option. For solitary "grasshopper" people, without strong family bonds, spending money and being generous with their money can pay more in the future if they make wise choices about whom to spend the money. Safety net can be made with money or with social bonds. Both can fail and no one is more virtuous than the other. The best is probably having a mix of both.

Re: How poverty changes your mindset

#287

Post by Jedd »

King-Aaron wrote: post #131
Jedd wrote: post #100

Earlier quoted context omitted.

Not being facetious. I can't see the explanation you say exists. I suspect that there's a missing qualifier to parent's comment --something like 'from people who haven't lived what I have lived' -- but absent that it sounds like other people's experiences are of no or negative value.

I find it hard to believe that you are unintentionally missing the context behind the original post, but so be it

As parent post observed in a sibling comment back to me, he/she interpreted the original article at about 180 degrees to how I read it.

I'm curious which way you interpreted TFA, as it may inform why you believe I'm missing the point of the parent post.

Re: How poverty changes your mindset

#288

Post by norin »

heurist wrote: post #220
dizzystar wrote: post #213

Earlier quoted context omitted.

I grew up in poverty as well and my reaction to money is the total opposite. I never felt connected to it all. I want to be a good saver, but my understanding of the green stuff is nearly nil. It's just sort of there and I try not to think about it. I think it's just the opposite problem. I simply don't know what to spend money on. I feel like I spend a lot of money, but somehow everyone is in deeper debt than I am.…

I buy things that become more valuable over time. Investing has become a fun way for me to "spend" that cash I otherwise hoard. Spending money on anything else is very difficult for me.

I spend most of my money on books. I rarely ever spend money on anything else. Living as a kid with my grandma had a huge impact on things I did in my later years. We were poor but always had access to books.

Re: How poverty changes your mindset

#289

Post by godelmachine »

RandomCSGeek wrote: post #246
dizzystar wrote: post #213

Earlier quoted context omitted.

I grew up in poverty as well and my reaction to money is the total opposite. I never felt connected to it all. I want to be a good saver, but my understanding of the green stuff is nearly nil. It's just sort of there and I try not to think about it. I think it's just the opposite problem. I simply don't know what to spend money on. I feel like I spend a lot of money, but somehow everyone is in deeper debt than I am.…

During my childhood, my father's most of the income went into repaying loans. Luckily, we had our own house, so we didn't need to worry about getting homeless. But I remember I rarely got to spend money on any kind of "luxury". By luxury, I mean simple stuff like a icecream cone or a baloon. The effect it had on me is quite wierd. On one hand, I always wish to earn more so as to not have to go through that phase agai…

I am the sort of person who seldom cares about clothes & fashion. The only fashion I cared about is cargo pants. Cargos because they have a high utility value. Many pockets, which help me carry a lotta stuff around. I always carry a pocket diary & pen so that whenever some idea strikes me, I immidietely jot it down. Of late, I've started buying denim shirts & Woodland shoes coz I work in an IT company, and it's about time I start presenting myself well.
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