It might, if you consider "choosing to live in a high-cost-of-living area when you could have access to jobs with similar pay in lower-cost-of-living areas" to

It might, if you consider "choosing to live in a high-cost-of-living area when you could have access to jobs with similar pay in lower-cost-of-living areas" to be "being bad at money." (Or, to go even more hard-line, if you consider "choosing to not go into trades, medical specialties, or other high-career-wage-growth-per-input-hour-of-education career paths, when you have no reason to believe you're uniquely suited to/talented at the high-barrier-to-entry career path you've chosen instead, and thereby not especially likely to end up making money at it" to be "being bad at money.")