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Being able to save money for an emergency fund is the first step towards financial and life stability if you're poor. So, yes, cutting out extraneous expenditures does add up, even if it doesn't directly make you move up the socioeconomic ladder.

Saving that $1000 or even $100/month means you might be able to get your car fixed when you need it, which might be the difference between keeping your job and getting fired/forced to quit. It can mean eating dinner every night, giving you better mental clarity and better sleep quality which can improve every part of your next day.

I think, "poor" is bigger than what the author wrote(ie that poor people have already cut out every extraneous expenditure). For every class, there are people with good financial hygiene and people with poor financial hygiene.

[moralestapia]

Just curious. What is your experience with poverty in your own life?

[IncreasePosts]

I grew up in an ultra rural part of Pennsylvania. I honestly thought my life was pretty good, and I had great parents and a great school with teachers who cared. My parents were(/are) great, but I later found out my school was ranked D- in the state. I think my parents didn't have huge earnings potential, but were really good at saving. So, my thoughts come directly from my life. A grade school friend of mine came home one day and told his parents that his little sister lost her retainer at school, and his parents were wailing and moaning for literally days over the $150 replacement. Meanwhile, my little brother did the same exact thing a few months earlier and my parents were able to deal with the issue, even though my mom and dad worked the exact same jobs as my friends parents.

My first job out of college I earned more than both of my parents combined and I felt pretty guilty about it for a while. Then I started earning 10x what they made while doodling on a computer all day, and the work:money conception lost all meaning to me.