I also find that poverty detrimentally affects people's self-esteem and confidence. It's hard to avoid seeing income as a societal judgement of your value or ability (even though it really isn't).

I've seen this in my family: if people are laid off or struggling financially, it is just incredibly destructive. Losing a job had more impact on my relatives' happiness than getting a divorce. When I called my family I could tell they still hadn't gotten hired without having to ask. Their voice was depressed and they were frustrated with even the littlest things. It is heartbreaking to witness the effects of poverty in people you love.

I know when I was quite poor in college, thinking about money made my chest tighten and my eyes get hot. I knew I couldn't pay for a fourth year. If the slightest thing went wrong, I was just fucked. There was terrible anxiety, and simmering fury, that wasn't alleviated for years.