Frugal dilemmas: the poor pay more
We've discussed before how not only do people with lower incomes have less money to spend on their needs, but the poor also often have to pay more for basic expenses as well.
Some of the loyal members of The Sun's talk forums spotted this story in the Washington Post, which took a closer look at the premium charged for the most critical services --- food, banking and even laundry --- in poorer neighborhoods.
For example: you pay more for groceries than folks who have cars and the money to afford memberships to warehouse stores or even the shops with the best prices.
The expenditures take on a cyclical nature as well. If you don't have money when you receive a bill ...
... you probably can't send a check in the mail, which only costs the price of a stamp. You might go to a check-cashing service to pay a bill on the day it's due to avoid late penalties, even though you have to pay the fee the check casher charges for that convenience.
Another limited resource is time. As the story states, simple errands that many of us take for granted (like doing laundry) can become multiple-hour ordeals when you don't have access to a convenient washer-dryer set up or can't afford a car to ease a commute between work and child care.
We've talked a lot about the value of money; based on this story, it's clear that money offers people choices.
Categories: Budgeting, Cheap/Frugal, Economy
