Things make sense to people according to their perspective and life experience. Often, the poor don’t understand the behaviors of the rich, and vice versa. Certain things that people who have very little income purchase seem like a complete waste to those who have plenty of disposable income. Wealthy people assume that if someone doesn’t have the means, they should reserve every penny for the bare essentials. What they do not understand, perhaps, is that if a poor person focuses solely on the gravity of their financial situation, they would probably have very little joy in life.
Payday Loans
Common sense to someone who has enough money is that you should only spend within your means. Poor people often have to resort to paying for things that they can’t, by spending money they don’t have. Payday loans might be nonsensical to the wealthy because they have such high interest rates, but when you can’t get food or pay your rent, you do what you have to.
Rent to Own Establishments
For someone who basically gets whatever they want, when they want it, paying for something one can’t afford is stupid. When you stop to consider that the only things they can't afford are probably outrageous and unnecessary, that would make sense. For someone who works a minimum wage job, not having a television is no way to live. Do they pay way too much for things like televisions, furniture, and things we take for granted, yes. Is it worth it for them?
Fast Food
When you are on your last dime, it would make very little sense to someone who has never really been broke to stop by the fast food restaurant on the way home. Poor people don’t get to enjoy very much of life and spend their days either working or stressing. The little pleasure that a happy meal can bring is well worth it. Once more, many of them don’t have the means to cook something from home or the money to afford all of the things that cooking a meal requires. Fast food is all-in-one.
Prepaid Cell Phones
Prepaid cell phones seem like a waste to those who have cell phone plans. For someone who doesn’t know if they can pay the monthly charges, paying just when you actually need a phone is a must. Also, prepaid cell phones don’t require a credit check, which many people without resources will not pass, leaving their options very limited.
New Clothing or Shoes
It would make sense to someone who has money that someone without it should not be wasting money on new clothes or shoes. People who live on very limited budgets, however, buy when things are on clearance, sometimes whether they need it immediately or not. It is not uncommon for people to buy end-of-season wear when they can’t wear it anytime soon, knowing that it will save them money in the long run.
Credit Cards with High Interest Rates
People with money have the luxury of shopping around for the lowest interest rates on their credit cards. They do so because they probably have decent credit ratings and they also have assets that put them in a lower risk pool. Poor people usually don’t have great credit ratings or any really at all. They are seen as a higher risk by financial companies so they charge more. Financial businesses also know that poor people have to accept whatever terms they are offered because they have no other choice.
Used Cars
Most people who have money buy used cars that are one or two years old to save themselves from paying the high cost of new. People who can’t afford cars have to pay whatever they can and get a car that is within their price range. They will ultimately end up paying more for maintenance and repairs, but beggars can’t be choosers, and if they don’t have transportation, they can’t make money or get to work.
Coffee
Coffee is among the list of vices that poor people will pay for, even when it puts a strain on their limited pocketbook. Many of them have to work longer hours and stay up at odd times for work, so energy drinks and coffee are not just an extra, they fuel them so they can continue to keep up and pay their bills.
Cable Subscriptions
Most wealthy people have a mixture of streaming services and cable and barely ever use their cable. It would seem nonsensical for them that someone who doesn’t have a lot of disposable income would pay for television. But they also have a lot of things to do and places to go. When you consider that when you're poor you have very few options for entertainment, the cost of cable is definitely warranted.
Instant Loans
Instant loans seem like a scam to people who can get money when they need it. Whether it is charging it on their credit card and paying it off at the end of the month or borrowing from their savings, when you have options, paying too much doesn’t seem like a good one. For people who need money now and don’t have reserves, small loans with a high-interest rate aren’t a choice, they are a must.
Overdraft Fees
No one willingly pays overdraft fees if they have the means to avoid them. Paying for spending too much seems completely stupid for those people who just wait for their next paycheck to get what they want. For poor people who can’t wait to pay for the necessities of life, bank drafts are just a necessary evil to survive.
Renting Short Terms
Extended stays and lodges that you rent by the week or day are not cheap. Many who have never found themselves in a situation where they are homeless one week and not the next can’t understand why you would pay the cost of a short-term rental. They also don’t understand that you can’t find a rental without a rental history and credit check. When you don’t have the means, you do what you can, regardless if it makes financial sense or not.
Prepaid Credit Cards
Prepaid credit cards charge a fee upfront and they also don’t help you build credit which is a major advantage of owning and using a credit card. People who don’t worry about finances can get credit because they have credit. It is a catch-22 that you wouldn’t know about if you were wealthy.
Convenience Stores
Convenience stores are great because they provide convenience, but they do come at a cost. Many wealthy people stop in to gas up and will pay a little more for chips or Slim Jims. Those who are poor usually are beholden to paying more because they likely have to walk to get their food, due to lack of transportation. When your only option is high priced or no food at all, you have no options.
No Health Insurance
People who can afford healthcare are usually the ones who can also afford health insurance. It would seem really stupid to not insure yourself and take a risk that being in the hospital will drain your savings, but if you have none, there is none to lose. Most poor people can’t pay the premium so they roll the dice and just hope they can get the services they need when they need them, and worry about paying later.
Pawn Shops
Whether buying or selling at a pawnshop you know you are probably going to pay more or get less. You usually get hit on both ends. For those who need money quickly, however, pawnshops are often the only way to get money fast and not have to repay it. You will get a fraction of what your item is worth, but you can get it without a credit check or down payment.
Scratch Offs
Many poor people will get paid and go directly to the gas station counter to buy a scratch-off lottery ticket. What might seem like a stupid and risky way to spend your money to those who have money, offers a glimmer of hope to someone who is living spent paycheck to spent paycheck. The reality is the two dollars they spend aren’t going to make or break them, but if they win, a good portion of their problems will be solved. That is well worth the risk to someone who is facing poverty every day.
Alcohol and Cigarettes
Similar to the concept of a lottery ticket, poor people don’t want to live in the reality and stress of their every day. Do they have the money to buy cigarettes and alcohol? Probably not, but they are willing to forego other critical things just to escape their own miserable situation.
Extended Warranties
What wealthy people find annoying and at the heart of their funny memes are extended warranties. Most affluent people don’t ever hang onto anything long enough for it to break or need replacing. When the latest iPhone comes out, they buy it. When something breaks, they replace it. Poor people anticipate that they will be getting as much use out of the things they buy as possible, which means owning it long enough to need a warranty to fix it instead of just replacing it new.
It's All About One's Perspective
When you have options, you choose the smartest one. When it comes to wealthy people judging the choices of poor ones, they often wrongly assume that poor people have the same options, or any at all, and make stupid decisions. If you can’t feed yourself, or your children, afford a roof over your head or have transportation to work and get your children to school, you do what you have to, regardless of how stupid it might appear to those who don’t get it.
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