It's not a contradiction - if your parents made financially poor choices, you are more likely to as well, but that does not change the fact that good choices us

It's not a contradiction - if your parents made financially poor choices, you are more likely to as well, but that does not change the fact that good choices usually lead to better outcomes, and that you can still make those good choices, in spite of your parent's choices. For example, an acquaintance of mine got a pay increase by getting a new three month contract job (in the $30,000 a year range, no heath insurance included). Before starting work, she traded in her car for a new Toyota Camery on a five year loan with 7% interest. This was a terrible decision. She's taking home less now money now then she was with a lower paying job. She can barely make the payments. If she sells the car, she loses thousands of dollars - if she could even sell it. And if this job doesn't renew, then she's really sunk. Importantly, it doesn't matter at if her parents were rich or poor. There were plenty of other options. If you can learn about the other options, and spend wisely, you do better.