This advice is probably the worse advice. Most of the rich started out living poor in order to have more savings to invest. Ray Dalio bought a farm house, Warren Buffet lives in the suburb, etc

My dad lived in a slum area until his mid-30s while buying high yield real estate.

Its not where you live but who you hang out with that is more important. And if the people you are with judge you by where you stay, these are the poor people.