This is also something that contributes to people being in debt. They put the nice thing that will last longer on a card and end up paying out more in interest, even when they try to make the investment to have the better thing and save money long term.
Ok… happiness should be found in the journey..bought cheap acreage.. all we could afford..should have bulldozed.. spent many 100k to bring to par BUT the journey was worth it! I feel so sorry for those billionaires.. ugly nasty lives they live!
So true. Not just expensive money-wise, it's expensive time-wise to be in poverty. Especially in smaller cities that don't have efficient public transportation. While it's possible for those in poverty to "pull yourself up by your bootstraps", it's very, very difficult.
And those people spend more money than most at the podiatrist office. My husband’s old classmate became a podiatrist. He said most of his patients were those that wore those cheap black work shoes. Sad but true.
Sure, but conversely, no fiction author will ever explain why it's okay to murder poor people the way Milton Friedman did, so it all kind of balances out.
It appeals to one of the strongest human emotions, greed. Confucius said (about 2,500 years ago, I might add), "If your conduct is determined solely by considerations of profit you will arouse great resentment." This aptly describes the state of American capitalism, America and the rise of tRumpism.
Also, when those good boots go on sale, a rich person can afford to invest in 2 pair at the cheaper price
We do this all the time, I have a canteen full of soaps, toothpaste, detergent, toilet paper, paper towels, sponges, cleaning supplies all bought on sale bc we have the money. That’s privilege
True, but people stopped exercising good financial habits also. $12 will buy a pound of coffee beans versus $6/cup at Starbucks. Produce is much cheaper than processed food. Saving is better than spending on credit and servicing the debt.
If you live below your means, you can get rich regardless.
This illustrates so well what most people fail to understand about poverty and why it's almost impossible to escape from it. Thank you so much for posting this!
For a decade, I was buying $60 non-slip boots from Payless or Shoes for Crews every 4-6 months when the prior pair came apart. Then my wife finished her BSN, started working as an RN, and we were able to afford to get me a $150 pair. That pair lasted 3 years. Being poor is fucking expensive.
In this mythical example if you could save up to a dollar a month for 2 1/2 years then add the normal 10 you spend on a new pair of boots, then you have enough for the more expensive boots.
It is only when you have zero that nothing can be saved. I have been poor, I know from whence I speak.
Hey I’m not fan of unadulterated capitalism but isn’t the point that that poor person should be able to borrow the 50 dollars and pay back 10 a year for 6 years and everone wins?
To quote the ancient philosopher, Nancy Sinatra, who once sang: "these boots were made for walking, and that's just what they'll do. One of these days these boots are going to walk all over you." I believe these lyrics would be well suited for us to keep in mind as Trump becomes President again.
Adding to that--the costs of treating trenchfoot, the risks associated with worn out boots and additional costs treating/fixing that...there are even more costs associated with the shitty boots.
Was just thinking how I am privileged to buy things on sale, saving a few bucks, even if I don't need it at that moment. Someone with lesser means pays full price when they need it 🫤
Higher gas costs because you are buying old cars with 150,000 miles on them, missing out on good deals because you don't have enough for a down payment or security deposit, higher food costs in poor areas. More gas cost cause you have to drive far for lower rent.
So true for so many things in life, late fees, higher priced items at a convenience store because there is no grocery store close by, bank fees, lost opportunities to save because you are always short, higher food prices because you live in a poor area.
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The bigger problem is that if the rich make the wrong choice they can just buy boots again. Only the poor must continually choose optimally.
That's right, at the expense of others.
We do this all the time, I have a canteen full of soaps, toothpaste, detergent, toilet paper, paper towels, sponges, cleaning supplies all bought on sale bc we have the money. That’s privilege
If you live below your means, you can get rich regardless.
So true 🙏💙
From rags to riches story
Impossible ask!
It is only when you have zero that nothing can be saved. I have been poor, I know from whence I speak.
it's being considered for use by actual economists in Britain
https://en.wikipedia.org/wiki/Boots_theory