I've been a software contractor for the last ~18 months. I do it because it affords me the ability to spend my time exactly how I want to, mostly reading and researching. But I also have reduced my contracting time as much as possible and this year my income will have been ~30k.
I've gotten to the end of my rope, and it's stressful and weighs on me 24/7, especially with my fear of an upcoming recession.
I decided to find a job again and in just a month I've been able to get multiple offers lined up for 5x my current income.
On the one hand, I use my position to its fullest--and I've spent the better part of a year learning things I never would have learned in a University or employment setting.
On the other hand, I recognize that this is an incredibly privileged position, one which I don't feel very deserving of. I understand the market forces, yes, but I can't help but feel a tinge of guilt knowing that I can be somewhat irresponsible financially just to pull myself out within two months of a new paycheck.
They either start their own company/contracting, become highly specialized professionals, or get a degree and take some boring white collar job that pays better.
Managing finances is just a gimmick when you have zero disposable income. That's basically 24/7/365 crisis management.
Sure, if you manage to get some savings/credit-score together it's very important what you spend it on. (Eg classes/moving or finally doing that trip to Vegas you always dreamed about.) But if you can't increase your income significantly, then investing or spending it makes no difference. (Because investing it is just continuing the saving, for whatever purpose, let's say to have a rainy day fund, or medical emergency fund, amd spending it just decreases the years you spent saving up, but your overall lifetime income will not change much, thus your range of possibilities won't either.)