This week I learned the poor also pay more for insurance and loans. For my job I was asking people about monthly expenses and they were paying more for their cars and insurance because of low credit. During my brief stint in poverty, my credit slipped over 100 points because I was maxing out my credit cards just to get by. Going over your limit and missing payments also gets reported to the credit bureaus and causes your score to decrease.
My mother works for an insurance agent. One of her customers is an older lady. Empty nester. Lives alone. Decided to move out of her upper middle class neighborhood, sell her house that is too big for her needs, move into a lower middle class neighborhood and start socking money away for retirement.
Shortly after the move she called my mom freaking out. The corporate office had sent her a letter that all her rates were going up. Even just moving from upper middle class to lower middle class neighborhood put her into a higher risk group and her insurance costs went up by like 25%. She was crying "I sold the house I raised my kids in and moved here to save money!"
A while back I got fed up with the local Kroger. I go there three times a week or so. Long lines. Crummy cashiers who can't figure out how to ring up some produce. Coupons don't work in self-scan. So I went down the street to the grocery next door to a housing project for African refugees. Everything there cost a dollar more for the house brand than what the name brand costs at the Kroger a couple of miles away. Like Orange Juice. Kroger has Minute Made not from concentrate for $2.99 - the market by the housing project has their house brand, from concentrate for $3.99. They are flat out ripping off people that live nearby because they know a lot of those people can't make it the couple of miles up the road to Kroger.
It is expensive to be poor. And the poorer you are, the more people try to rip you off.
No insurance so just using the emergency room for everything
Low fuel light always on
Terrified everytime you start car because its a cheap beater and you never know when its going to die and when it dies you are fucked because you have no savings or anything
Constantly feeling like your almost caught up when an unexpected bill comes and now you have to choose between rent and food
leftie_imw on April 7th, 2019 at 22:42 UTC »
This week I learned the poor also pay more for insurance and loans. For my job I was asking people about monthly expenses and they were paying more for their cars and insurance because of low credit. During my brief stint in poverty, my credit slipped over 100 points because I was maxing out my credit cards just to get by. Going over your limit and missing payments also gets reported to the credit bureaus and causes your score to decrease.
karmavorous on April 8th, 2019 at 00:42 UTC »
My mother works for an insurance agent. One of her customers is an older lady. Empty nester. Lives alone. Decided to move out of her upper middle class neighborhood, sell her house that is too big for her needs, move into a lower middle class neighborhood and start socking money away for retirement.
Shortly after the move she called my mom freaking out. The corporate office had sent her a letter that all her rates were going up. Even just moving from upper middle class to lower middle class neighborhood put her into a higher risk group and her insurance costs went up by like 25%. She was crying "I sold the house I raised my kids in and moved here to save money!"
A while back I got fed up with the local Kroger. I go there three times a week or so. Long lines. Crummy cashiers who can't figure out how to ring up some produce. Coupons don't work in self-scan. So I went down the street to the grocery next door to a housing project for African refugees. Everything there cost a dollar more for the house brand than what the name brand costs at the Kroger a couple of miles away. Like Orange Juice. Kroger has Minute Made not from concentrate for $2.99 - the market by the housing project has their house brand, from concentrate for $3.99. They are flat out ripping off people that live nearby because they know a lot of those people can't make it the couple of miles up the road to Kroger.
It is expensive to be poor. And the poorer you are, the more people try to rip you off.
fragglestickscarn on April 8th, 2019 at 01:13 UTC »
My personal favorites:
Banks charging overdraft fees
No insurance so just using the emergency room for everything
Low fuel light always on
Terrified everytime you start car because its a cheap beater and you never know when its going to die and when it dies you are fucked because you have no savings or anything
Constantly feeling like your almost caught up when an unexpected bill comes and now you have to choose between rent and food