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Poverty often breeds more poverty. If you can’t afford high-end products, you’ll have to pay more over time for cheaper things that break easily. Here are some of the most insidious expenses poor people have to pay simply for being poor.
According to one user who worked at a gas station, many “broke” people bought the most expensive brand of cigarettes frequently. Not only is their health getting compromised, but so is their wallet.
What may seem like a bargain can cost an arm and a leg. A user shared their experience of spending a lot of money on gas and repairs for his old truck.
It can be challenging, but purchasing a certified used vehicle may save you a lot of money. If you must buy an old car, check the main components function properly to avoid costly repairs.
Lack of Preventative Care
Simple things such as going to the dentist, annual physicals may seem inconvenient early on in life. However, preventative care can become costly down the road if ignored. If you’re too busy to maintain your health, save money monthly for the necessary treatments.
“Lack of preventative care. Cheap shoes or cheap mattress leads to more expensive medical care. Lack of dental maintenance leads to expensive surgeries. That kind of thing.
“When you can’t afford preventative medical care, it catches up to you, leading to more expensive costs later.”
You may or may not agree with your credit score, but you must have excellent credit to make large purchases, including a car or a home. If you’re lucky enough to get a loan with bad credit, it will have a high-interest rate.
Whether leasing a vehicle or renting a home, you’ll continue paying if you don’t own one. This ties into having excellent credit to make these large purchases. A user expressed the frustration of renting rather than owning.
A user explained that he was waiting for his furniture to arrive in his new house during a divorce. While waiting, he rented $10 furniture.
However, this came at a cost beyond money. The staff members of this furniture company were rude and pressured this man to purchase their furniture. Unfortunately, the man didn’t budget, and he had an experience he’ll always remember.
Single Toilet Paper Rolls
Buying in bulk saves a decent amount of money. However, for many, this isn’t an option.
“4 rolls of name brand toilet paper costs 6-7 dollars [while] 12 of the same brand and size costs 11 dollars.”
What most people see as an investment in a brighter future may backfire if overdone. For example, buying a lottery ticket a few times a year won’t set you back financially. However, some people spend money on lottery tickets daily, obsessed with hitting the jackpot.
Two foods that appear identical may not be. While you may save money purchasing food at bargain prices, it usually comes at the expense of your health. Generic brands or non-organic food won’t be packed with the quality ingredients your body needs to stay healthy.
Kids are a blessing. The problem is many people don’t plan and have more kids than they can afford to raise. Many families turn out just fine, but they end up scraping by.
The desire to look fresh out in public has many spending on clothes they can’t afford.
Unfortunately, it’s uncommon to hear of people with unworn shirts or pants still carrying the price tag. Instead, evaluate your closet and note what you have versus what’s missing. Then, set a budget to help you purchase these items. It will take longer, but you will avoid accumulating debt and appreciate your things more.
People with little money tend to apply for more loans than others. Although loans aren’t the problem, building up debt is. Loans are a big reason many are broke in the first place.
Live a Happy Life
It can be easy to get lost in the cycle of poverty. If you don’t have much money, focus on saving small amounts and rejecting unnecessary expenses if you can. But regardless of how much money you have, it’s a good idea to refrain from judging others for their financial choices — you never know what they might be going through.
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