4 ms·
When you're chronically poor, $500 or $2,000 is nice, but won't solve anything long term, therefore no ling term change happens.
by SMAAART 4y ago
When you're chronically poor, $500 or $2,000 is nice, but won't solve anything long term, therefore no ling term change happens.
- mabbo 4y agoExactly. Many of these people may have twice that amount in credit card debt. And while it's great to pay that down, it won't change much immediately.
- dahfizz 4y agoI would expect that halving their monthly payments on that debt would have a significant effect on their monthly budget. Why wouldn't that be the case?
- ceejayoz 4y agoThey know they’re just gonna have to max out the credit card again for that thing (one of many!) they’ve been putting off for months. The poor always have another bill lurking to wipe out a small windfall like this. Like their cancer treatment. https://www.nbcnews.com/health/health-news/cost-cancer-drugs-patients-dont-fill-cancer-drug-prescriptions-high-co-rcna36793 https://www.nbcnews.com/health/health-news/cost-cancer-drugs...
- phkahler 4y agoMonthly interest on $2000 is about $50. The difference will be hard to notice.
- daenz 4y agoYou're misunderstanding the point of the study. It wasn't meant to determine "is a one time payment going to solve poverty", it was "does it improve anything" and the answer is no, it doesn't, and it actually distresses the recipients.