Being poor is expensive but those who have never had to worry where their next meal comes from, will never know what that feels like.
Editor's note: This article was originally published on August 6, 2021. It has since been updated.
The rich have been asking poor people to sacrifice their morning coffee from Starbucks to save money for so long that it's become a joke to call out their hypocrisy. The government has for far too long supported the rich on the pretext that wealth and money would trickle down to the bottom of the pyramid but it never has. If anything, income inequality has gotten wider and wider. Almost 50 years of tax cuts to the rich have benefitted no one but the rich, revealed a study by the London School of Economics, reported CBS News. The study showed the "trickle-down" economics of eventually boosting jobs and incomes for everyone never really worked.
The study examined 18 developed countries—from Australia to the United States—over a 50-year period from 1965 to 2015. It was found that the per capita gross domestic product and unemployment rates remained identical after five years in countries that slashed taxes on the rich. The only constant was the income of the rich which grew exponentially, reported CBS News. The rich could certainly do with getting off their high horse when doling out financial advice to the poor. Fighting poverty is like trying to stay afloat during a rip-tide while rich people on cruise ships refuse to throw you a life jacket but instead, tell you to pull yourself up by the bootstraps and swim to the shore. The reality is that you can imagine what it's like to be poor, but it's impossible to really understand what it really feels like until you've experienced it yourself. Poverty is a vicious cycle, and everything from putting food on the table, dreading a visit from a debt collector and the stress takes a toll on your mental health.
Many who have lived through hard times have taken down 'financial gurus' and pseudo-financial experts for doling out hollow advice online, reported Bored Panda. A Reddit group is opening up about their experiences and what it feels like to be stuck in a vicious cycle of debt and suffering while also taking down obnoxious rich people. Here are 23 times they were on the money:
Millennials, quit whining. I paid off $150,000 in student loans and own a $400,000 home, because I SAVE. It’s not that hard. I— Andrew Nadeau (@TheAndrewNadeau) October 21, 2019
-Make coffee at home
-Bus instead of Uber
-Had parents pay off my loans & buy me a house because I’m daddy’s special boy
-Got Hulu with ads
IDK who needs to hear this, but poverty-wage workers cannot budget their way to economic stability. Offering financial literacy workshops when what they need is a living wage is insulting and immoral.— Wendi C. Thomas (@wendi_c_thomas) May 30, 2019
Buying a house is like "we have no way of knowing you'll pay back this mortgage of £500 a month"— Eleanor Mason (@eleanormtweets) August 17, 2020
"I've been paying my landlord £1000 a month"
"Why can't you save up £25000 to reassure us you can afford £500"
"Because I've been paying my landlord £1000 a month"
been making coffee at home instead of getting starbucks for two months which according to economists should’ve made me a billionaire by now so what is happening— Matt Bellassai (@MattBellassai) May 19, 2020
As a therapist I can say confidently, that while therapy is helpful, what most people really need is money— CaitieHannan (@caitiehannan) December 10, 2020
In med school, I took an elective called "Stress", foolishly thinking I was going to learn about meditation and yoga. Instead the professor spent 6 weeks proving that being poor or a minority literally destroys your health on a molecular level, and I think about that every day.— Jocelyn J. Fitzgerald MD, FACOG (@jfitzgeraldMD) May 10, 2020
Overdraft fee industry: $11 billion/year— Benjamin Dixon (@BenjaminPDixon) March 6, 2021
Check cashing industry: $36 billion/year
Pay Day Loan industry: $9 billion/year
Late fees. Cash bail. Tickets fees and fines.
The list goes on https://t.co/um589imzBs
‘it’s expensive to die tho!!!! funerals are expensive!!’ bitch it’s not gonna bother me if im DEAD— alex (@uhhdamn) July 29, 2019
No economist will ever come up with a better description of why being poor is so expensive than Terry Pratchett. Such a great quote. pic.twitter.com/CodabT8YED— Rohan Talbot (@rohantalbot) August 16, 2020
If your "tips on saving money" starts with assuming I pay $5 for coffee everyday you already think I have more money than I do.— Liz Harvey (@_lizharvey) May 2, 2014
I've analyzed my spending and it turns out my most expensive habit is “having a place to live”— Being nice, feeling nice (@InternetHippo) March 21, 2021
Got stuck in a convo with some wealthy people and a guy asked me how my investments were doing. Told him both avocados should be ripe by tomorrow.— Matt Jenkins (@YoungFunE) July 23, 2021
ISN'T IT KINDA DISGUSTING THAT BANKS MADE $34 BILLION IN OVERDRAFT FEES IN 2017?? THAT'S $34 BILLION THEY TOOK FROM PEOPLE THAT LITERALLY HAD NO. MONEY.— KENYA🤍 (@crazyjuice__) December 27, 2019
I overdrafted my account by $0.96. I now owe the bank $60.96. https://t.co/A5GzTEn83B— the *original* garden hoe ™ (@the_razzlesnake) August 27, 2020
when I get MARRIED my WIFE will be in THE KITCHEN where she STAYS and I WILL ALSO be there BECAUSE it’s ALSO our BED ROOM. we live in a VERY SMALL studio apartment because we are POOR— Joey⚡️ (@joeygllghr) June 18, 2019
Money might not *buy* happiness, but it can afford access to things that do. Like zero debt. Property ownership. Travel. Shoes. Dining out without feeling bad about the food at home. The ability to take care of your loved ones after you've taken care of yourself. So yes. Pay me.— Angel Lenise (@angellenise) November 10, 2019
Remember this Holiday Season if someone buys you a $30 gift and they get paid approx $10/hr, they paid about 3 hours of their life to get you that gift.— Kye💕🦄 (@GxldSociety) November 21, 2020
Be grateful. It doesn't have to cost $100+ to hold value.