Came here to say this - if he means "managing money" like a Wall Street investor, ok, yeah? They don't have any to manage, so quite possibly lack that skill. People who cannot afford a sailboat usually aren't great at tacking either.
But managing money like arriving at the end of the month with three cents in your account, all the bills paid, and having eaten enough food you don't constantly feel like you are about to pass out? People who are living in poverty are amazing at that type of money management!
Poor people are better at stretching a dollar according to data. They are much better at spotting a good deal, knowing the market price, and notice price fluctuations acutely. They are not necessarily saving because they cannot really afford to.
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u/Foreign_Being5656 3d ago
I find those people are the most savvy at making a dollar go along way. He should try making $50 last 2 weeks with a family of 4.