Hardship surely has an influence on mentallity.

[Gamanka@@]

When we talk of economic hardship, people relate it mostly with its effect on the accounts and pockets of persons, but hardship does more than that, it does a lot of damage to the mentality of victims of economic hardship.

When people experience pressure under economic hardship, their thinking is surely short term, instead of thinking of the next investment, the attention is fixed in the next meal; capital expenditure is surely eliminated.

Economic hardship also affects the ability to take calculated risks, and try out new ideas, because there's little or no room to risk resources without certainty of returns, totally avoiding the ability to earn potential rewards from risks.

Mental stress from economic hardship also affects the productivity of persons.

Economic policies in any economy is important, when economic hardship is created, it doesn't just affect the financial situations, it also affects the mentality of individuals and households.

Sincerely speaking nowadays, economic hardship has made  alot  of individuals thinking faculty very often not to see  the potential of the features ahead, and  moreover it causes damages to the stability of a person such  as productivity and many more.

Economic hardship also has destabilized,  the quality of having mindset of not bearing much  more patience to calculate how potential rewards from risk to earn in a much  more  profit.

[tygeade]

It's one thing to hear about financial difficulties. Seeing it in your own family can make an indelible impact. You can't build a relationship with money that's based on strategy. The one that you create is fear-based. Those are operating systems that are entirely different, produce entirely different output when fed the same input.

Like I've seen this discussed a hundred times. Then it is all the way to "financial literacy" as a solution. But someone can explain compound interest to you perfectly you will still panic-spend when money hits your account. Your nervous system has developed something your conscious mind didn't replace. The disconnect between knowing and doing is conditioning before you had any defenses against it.

It definitely has a cross generational thing to it. Most people just underestimate how those dynamics get transmitted. It's watching your mom put bills in a drawer. Its learning is that money is a cause of arguments. Its absorbing the idea that wanting more somehow makes you ungrateful. This was supposed to be addressed by the information age. Unsurprisingly it didn't. Not really.

There is also a middle ground, which causes a lot of psychological problems for a kid that parents do not realize. My parents were poor, not poor as in we lived in a shackle, we lived in an apartment and I had my own room and pc and bed and toys, so that alone is rich enough compared to most. But lets be honest, we were not rich by any means, we did not had the money.

In fact, I earned a right to go to the best high school in our nation, the literal best kids who graduate from that high school go onto becoming CEO's and such, but my parents did not have even half the money to send me there, like I could have 50% scholarship and still wouldn't be able to afford it. But.. they also showed none of that to me, they always made me feel like we were not in need, while I did see them struggle, they never tried to show that or say that to me, they tried to hide it.

This caused me to have economically panic in my life. Now I can do better and I still fear one day I will be poor, because I saw 20 years of my life, watching my parents, hiding their economical issues from me while giving me the best life they can afford.

[Berry2d]

One unique thing about life i have  come to realise is, the situation we find ourselves in determines our behavioural patterns,  as you can never see someone that finds it difficult providing for himself and his family thinking in the same direction as a wealthy man that have it all.
The thinking of a poor man is much different from a rich person because the poor will only be reasoning within the circle while the rich goes outside that circle. Not that poverty takes away once wisdom of reasoning but it makes one remains speechless,  calm, submissive all because that is the only way to gain the access one desires.

[Crakryptvest]

Hard really do, do you what it means to stay without having it to take care of your responsibilities, I mean without being able to provide for for those you know that are your responsibility, your immediate family and other categories of people that are part of your responsibilities, as humans, struggling will definitely affect our mindset.
There's much difference in reasoning between the well to individual, I mean rich folks and those struggling, I know that feeling when things is not going down well with a man, Hardship can get a man devasted, a man can lose it while going through such phase of life, what Hardship can do to the mindset of persons in that phase cannot be underestimated.