🦄 Startups & VC 9h ago · Tommy Baker

8 small habits of people who grew up with money worries and still flinch at the sound of a bill arriving even though they could pay it ten times over

Silicon Canals
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8 small habits of people who grew up with money worries and still flinch at the sound of a bill arriving even though they could pay it ten times over
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A 2013 Princeton study found that when low-income people endure financial stress, their cognitive performance drops by the equivalent of 13 IQ points: roughly the gap between average functioning and clinical impairment. The number is cited in former boxer Ed Latimore’s essay on the mental inheritance of poverty, and it explains something I’ve watched in myself and in plenty of guys I came up with on job sites: the wiring doesn’t update when the bank account does.
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