Franklin separates poverty from moral worth. Having lacked money or social standing is not, in itself, a reason for shame, since economic circumstances do not determine a person’s character. The quotation instead questions the belief that a poor background is something that must be concealed or regarded as degrading.

The second half shifts attention from material circumstances to self-respect. Being ashamed of having been poor can imply accepting the idea that wealth confers greater human worth or that poverty makes someone inferior. Franklin rejects that judgement and places greater importance on character than on former social position. The saying does not romanticise poverty or deny the hardships associated with it. Its broader lesson is that difficult economic circumstances need not diminish personal dignity, and that people should not measure their own worth solely by wealth, status or origins.