I worked my way up, I come from a very poor family in RU, walked every day miles to school, raining or not, unthinkable these days with those helicopter parents, but it made me mentally stronger than others. I was never angry with my parents that they are a normal worker class, I mention it explicitly because you might think that was a factor for me, it was not.

I only can tell a small story from what I observed. I think this is different for anyone who is affected and the process you go trough is fundamental different based on if you stay poor, if you lose money and such variables.

Life still is the same except that you need to check the money, always. You cannot buy nice things without making a big decision each and every single time because the money you use could be used for food, clothes etc. or in other words more important things. I think that pissed me off the most when I was a little kid. Other kids had nice things but I was always behind, my parents tried to do their best but you could see that I was poor from just the clothes. It got better after school but during school I was drinking a lot and miserable most of the time, just unhappy with the whole situation.

When you are poor born you do not really understand or mind it but it is totally a big thing when you had once money and lost everything, gladly I never walked trough such progress but my friend lost everything and he was struggling a lot, more than he cared to admit.

I was never thinking in ways like rich or poor, more like that people can buy more nice things but I quickly realized even as child that this did not made them better or something, from my perception more arrogant and self confident but that was all. Keep in mind that you also quickly can come to wrong conclusions, because I know lots of rich people that are normal like everyone, no big cars or multiple cars, just average people - just with more on the bank and a fully paid house.

Well I grew up, had some very bad times like eating each and every single day noodles because I could not effort other food and such drama. I think you enjoy life much more and appreciate the little things once that is behind you. My overall impression is that social life is fundamental different because others, or even your friends can go to concerts and such events while you need to check the money or learn to say … no. It does not mean you do not have friends but you simply cannot go to such society based events, or not as often as you want.

What I overall learned so far in life regarding money

• Once you are rich or have some money to spare you can influence things, alias power and people listen. It does not matter if you are an ahole clown or not. It makes you in society a better person, I know this is hard to accept but people listen and you can share money to projects you like to support, even if that is only on paper or to fool others. People will notice and look up to you. If that is just played or not, but you can - if you want - influence things.
• Not every rich dude is a clown, there are good people out there but stereotypes and jealousy is a point you need at some point be confronted with, it shows your true character.
• You need to learn to use money, you cannot just randomly give it a way and make questionable new friends, you have a responsibility and reputation to lose. People care much more when you have influence if there is something bad or good going on with you, not just your neighbors are then talking.
• No money, money, you still can be happy. For me it was more like that I could not effort stuff that I wanted at that time, but if you grow up and get older you learn material based things are not anymore a bigger priority. Its then more health care and other things to worry about, you know the big picture and what you want to leave behind and how people will remember you.
• Poor people still can enjoy the little things and be happy, it also highly depends on your childhood and your surroundings, how they influence you and how you influence them.
• If you have no influence, people do not tend to listen, meaning you can be a good person and spread good ideas but people have overall in society more influence with power, alias follower base, money etc. And people just do not listen if you have no money or you are not a bigger personality such as scientist etc.

Question is too broad