Op what you are trying to narrate is just unnecessary spending or wasteful spending and that could come from anybody no matter where they fall in the economy. The rich do unnecessary spending likewise the poor but I think it is more unreasonable when you see the poor who is living wasteful financial live because those money could have been used for other investment that can help them run away from poverty. The poor are suppose to be the one very careful in their spending.
I don't think extremely poor or wealthy people are not excluded in this matter since in this world in order to survive we all need is money for us to buy our wants and needs. People who spend money for their own desires and satisfaction we are all aware of that already. Poor people are not afraid of loss since they already accepted their situation either they will work hard to become rich unlike those wealthy people what if one day they woke up and end up in a miserable life? Can they accept it?
Everyone has a different way of spending their money, some use their money well and there are also those who use it so uncontrollably that they regret it when their money is gone. Currently, there are many people who do several jobs to generate more income so that they can meet their needs and very few can control their spending on things they don't need, so it is necessary to have good knowledge of financial management so that they can use their money wisely. well so that they can invest with their money to get profit from their investment.