I'd add the old adage that it is expensive to be poor. What does that mean? The price for consumer goods generally cluster around low, mid and high prices. T

I'd add the old adage that it is expensive to be poor. What does that mean? The price for consumer goods generally cluster around low, mid and high prices. This includes cars, phones, computers, shoes, appliance, tools and virtually anything you buy. The low priced items are usually the worst value because they are shoddily built and don't last and have no warranty. The mid-priced items are the best value because they are well-built and will last a long time and usually are backed by a good company. The high priced items are well-built and will last but you pay for fancy extras or the name brand/prestige or service, etc. So the trap is that if you are poor you end up having to buy at the low end of the market and you are on a treadmill of replacement. I once had a pair of good quality hiking boots that lasted +20 years that had finally worn out. I don't really hike that much and was in a rush to replace and didn't want to spend time researching all the choices (another thing lacking when you are poor, your time). So I bought a cheap pair and they lasted a little over a year. I was shocked at the difference and realized that I should have stuck to the rule to buy the mid-priced products to get the best value for my dollar. Unfortunately if you need work boots and don't have the money you are just going to get the cheap ones and have to replace them in a year or two versus getting years of use out of the more expensive ones. The same idea applies to cars, phone, computers, tools, appliances, etc. and is a real problem for people trapped in this cycle.