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Being poor costs more
"Do not exploit the poor because they are poor and do not crush the needy in court, for the Lord will take up their case and will exact life for life"- Proverbs 22:22
Tight budgeting preferences and risk-aversion makes life difficult for low-income families compounded by digital or financial exclusion.
Their spending is driven by essentiality therefore trying to avoid using higher-cost credit can prove very difficult for them.
Households who cannot obtain access to low-cost supermarkets, banks and building societies, direct debit facilities and private transport, have little option but to pay more for their essential daily needs.
Their spending is driven by essentiality therefore trying to avoid using higher-cost credit can prove very difficult for them.
Households who cannot obtain access to low-cost supermarkets, banks and building societies, direct debit facilities and private transport, have little option but to pay more for their essential daily needs.
- Food
- Household shopping
- Gas & Electricity
- Insurances
- White Goods purchases
- Cheque cashing
- Unexpected circumstances
It is scandalous today, that on our UK high streets, there are lucrative rent-to-own firms, profiting from struggling families who have no option than to spread the cost of more expensive essential household items.
The poor who may otherwise have to do without, are being forced to pay up to three times the shop price for essential goods, in order for them to be affordable on weekly payment terms.
See this typical example below.
The poor who may otherwise have to do without, are being forced to pay up to three times the shop price for essential goods, in order for them to be affordable on weekly payment terms.
See this typical example below.
