They rarely have a person in their life who models delayed gratification and saving behavior, let alone strategic investing, so they never see the benefit of doing that.
The singular defining quality of the poor is that they lack capital.
This makes everything about being poor more expensive.
It is amazing how much money one has when one exercises restraint when spending it.
A lot of the problems of poverty is that once you get below a certain level, even if you are the most thrifty person around, you lose predictability in ways that end up costing you a lot of extra money.
Suddenly your employer pays you a day late and your carefully arranged bill payment schedule goes out the window and you get charged extra fees, or your car that you depend on to keep your job breaks down and you're forced into ridiculously high interest credit.
I have been applying such things to my parents' budget. Just the other day I heard from my mother that she no longer worries when unexpected medical expenses come up because she has found that the savings that my suggestions made more than paid for it. She gets TV for free OTA, replaced her expensive landline with free VoIP through Google Voice using an Obihai ATA, has lower electrical consumption (from various things, but the simplest being putting a lid on the frying pan to reduce evaporative heat loss, which is an efficiency improvement that allows food to cook faster), has a promotional rate for the newspaper she insists on having, has cell phone service that has no monthly fee (through ring plus), obtains heating oil at COD pricing, etcetera. Such things add to a four figure amount each year.
In both cases, I know people are sending money to help them. That is especially true in the case of that household in a poor village where the father is a disabled craftsman while the mother is completely uneducated. Enabling the children to study will give them the opportunity to work for a better life, which is an opportunity that their parents will never have.
Anyone who has a paycheck has the opportunity to obtain financial advice from sites like YNAB. Not all such people live as they would like, but being able to imagine something better puts them in a whole different category than actual poor people. They are able to make financial decisions and save for the purpose of making their lives better in the future. The truly poor lack such luxury.
I'm not really sure this is correct. If you have a source please do share it.
From what I've read, the reason they have difficulty saving isn't because they weren't taught to do so but because when you constantly have to no to things you want, you use up a lot of energy, or more specifically, glucose. This in turn makes you more impulsive and less rational.
For example see: https://www.psychologicalscience.org/media/releases/2010/wan...
That being the case, I don't really like the idea of labeling poor people as being poor because of their inability to save or their own foolishness. There have also been studies that show that living in poverty actually changes your brain and makes you less intelligent.
It's a self perpetuating cycle as far as I can tell
(As a chap who grew up poor.)