Tldr? (1) Poverty affects how we behave and think; (2) Overspending creates a poverty-like scenario; (3) There are ways we can structure our finances to prevent poverty.

So this week I thought that I would like to explore the topic of the economics and psychology of poverty.

I thought it would be a good time to tackle this topic because of the Covid-19 pandemic situation. (It is not yet as bad as the Spanish flu, we can all do our best to prevent that from happening).

Entire economies have grinded to a halt. Entire businesses are on the verge of closing (if they have not yet closed). Families are ripped apart. Perhaps the worst of all: there those who die frightened and alone in the cold emergency rooms, denied the comfort of their loved ones during their last moments. Their voices a coarse whisper, their final expiration tragic.