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Similar to the boots theory from the late Sir Terry Pratchett.
The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money. Take boots, for example. … A man who could afford fifty dollars had a pair of boots that’d still be keeping his feet dry in ten years’ time, while a poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.
I used to buy 2 pairs of sneakers every year, then I saved a bit to buy a nice pair of Red Wings boots, they lasted me 5 years.
There are a million ways being poor makes you more poor. Your job doesn’t do direct deposit? Well that’s a $35/mo maintenance fee at your bank for that. It’s insane.
You gotta find a different bank…or better, a credit union
I totally agree, but that isn’t always an option.
This is called the “poverty trap”. Here’s a great book about it: https://en.m.wikipedia.org/wiki/Poor_Economics
Yet another comment I wish I could pin. Ty for the suggestion.
*in America
Medical debt is a uniquely American problem. Everything except the dentistry in the UK would cost you nothing, and even that is in part paid for by the NHS.
Land of the free my ass…
Some stay dry and others feel the pain
A baby born will die before the sin
Choclit Wayne.
