Mama and Daddy raised us poor, but we were never broke to speak of. Yes, there is a fundamental difference between being poor verses being broke. And part of being raised poor meant "Hand-Me Downs." Truth be told, I looked forward to getting clothes from bigger and older cousins. Back then, a part of the Family Reunion was a gathering of Mamas at the car trunks, or as Daddy would call it: "The Boot." Never understood why Daddy called it the Boot. And he called the Glove Box, "The Pocket."
Anyway, that's neither here or there. We were poor, and didn't know it. And it was common place back then to wear clothes and shoes that were good for a few more seasons, if not for a full school year. Knee and elbow patches were a good solution for busted out sports, and stuffing a sock in the toe of shoes that were too big worked.
I'm sure glad we were raised that way, and I'm equally grateful that my wife and I raised our children that way. We were poor on purpose, but we were careful not to be broke.