Comment by spwa4

> Care to elaborate?

That poor people know how to survive on much less money, whereas a lot of educated people get deep into debt when they lose their source of income making stupid mistakes such as not giving up restaurant visits or an apartment they now can't afford. Sometimes this goes as far as making plans to avoid debt collection as long as possible (which, of course, makes things worse afterwards).

And, especially, that poor people understand and expect the basic mechanism companies use: cheap or even free up front price for a million different things with lots of expensive traps that come a little bit later, and they're ready for it. Whereas people who have fallen out of their income fall for 10 of these traps at the same time.

Read some articles about charitable organizations that help people get out of debt and you'll see this everywhere.