Poor Man’s Pride
Fyodor Dostoevsky wrote in Crime and Punishment “.. some of the social rituals obligatory for one and all in our daily life, many poor people turn themselves inside out and spend every last kopeck of their savings…to not to be condemned by others”.
I can say what Dostoevsky wrote is true and already happened. Poor people will stay poor because they have a tendency to spend their savings merely to tell the world that they can afford more than anyone around. This also applied to the rich. If you are rich but you spend your money on crazy things, sooner or later you’ll lose all your money and end up the same as the poor.
This is what Dostoevsky called as “Poor man’s pride” which is spending money without proper thought and calculation, just for the pleasure of being praised.
The problem is in their mentality. Can you stay sane while others have gone insane ?
An example of poor man’s pride is Tuban Farmer became a millionaire in a night after they sold their land to state owned enterprise Pertamina. Guess what they did ? almost all the farmer spend their money instantly. There’s nothing wrong with that, i mean it’s their money. But if they spend their money uncontrollably on things they don’t actually need just to look better than others, then they could end up losing it all in an instant. You can also search up on how those lottery winners ended up today. Most of them ended up poorer than before.
I'm not a public policy expert so i don’t know whose job it is to educate peoples on how to manage their money wisely, whether the government or private institutions. As long as you have "poor man's pride" you won't be wealthy.
You have two choices either to look poor or stay poor. I guess its better to "look" poor than die of starvation.