My parents were definitely not financially stable. I grew up in the equivalent of what the US would call "the projects" but a key difference was that it was a community. There was a rec center, a school, groceries, health care all within a couple of enclosed city blocks. Average income was poverty level. All of the services reduced burdens on the parents who often worked two jobs. My mom had two jobs, my dad had two jobs.
If you use an iPhone, you are using my code. If you played a Wii game in the last decade, you're using my code. Many more examples. That's how far I came and most of my friends went as far if not farther. One of us manages a global tech organization now.
Most kids I know who didn't do well or treaded water were the product of contentious divorces as this was the time when "rah rah women's liberation" was at its height and many men were kicked out of their family. I still remember my friend lamenting to me that the only time he can see is father is during school lunches. That friend did better than he would have because he basically lived at my house as a result of his family situation.
Surprisingly, in this area, there were fewer such divorces than the general population. I have looked up the stats.
Raising kids is not hard but somehow we went from village to complete independence. We need to go back to a village mindset. We are all in it together or we will all feel the pain one day.