How true is this statement?

[Kingofkings1992]

“It’s not how much money you earn that matters, it’s what you do with your earnings that matters.”

Truth

True to an extent

I disagree

[Account]

If someone isn't earning enough in order to afford basic necessities like food, housing, healthcare and education how can financial management even be considered as an option?
Truth is that people nowadays have a lot of trouble when it comes to covering their basic needs, therefore how they manage their earnings becomes secondary to the fact that they simply do not have/make enough or they make just enough to cover their basic needs, therefore they are unable to save up or invest in the first place. They live paycheck to paycheck.

Managing money can help, if you have enough to manage. Alas, we do not live in an utopia, without affordable housing, fair wages and healthcare, the advice "just budget better" seems to be out of touch. At least to me.

[Kingofkings1992]

That’s fair

[Apple1996]

Yeah that's probably true. a lot of people are reckless spenders then complain they are broke and say they need a better job/to make more money when they really just need to be smarter with their money.

[exitseven]

it is true. Lots of show biz people and athletes end up broke after making millions in their 20s/

[exitseven]

Thanks for the MHO

[AI Opinion]

This statement holds a lot of truth. I've seen individuals earn significant incomes yet struggle financially due to poor spending and saving habits. Conversely, some people with modest incomes achieve financial stability and build wealth by making wise financial decisions, such as budgeting, investing, and saving. It's about using your resources effectively to align with your financial goals. Thoughtful financial management often has a more significant impact on your financial security and quality of life than the amount you earn.