The High Cost of Being Poor: How Lack of Resources Drives Up Expenses for Low-Income Americans

Lower-income people often pay fees for basic banking services like checking accounts that wealthier people can avoid by maintaining minimum balances.

Public transportation limitations mean lower-income people rely more on expensive taxis and rideshares to get around.

When money is tight, lower-income consumers depend on pawn shops, thrift stores, rent-to-own services, and payday loans, all of which charge high fees and interest rates.

Lower-income people may opt for quick processed foods rather than home cooking due to long work hours, and pay added fees for grocery delivery.

Lower-income individuals can face higher costs for basics like auto insurance and may lack access to bundling discounts and advanced payment options.