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Why do the poor spend more money and time, than the wealthy?
480 sats \ 8 comments \ @hasherstacker 12 Jul AskSN
Why do the poor spend more money and time than the wealthy?
Inspired by the post “How much does it cost to be poor?” Here: #1022670 , I’ve been reflecting deeply on the invisible burden the poor carry. The reality is this: the poor spend more money and more time than the wealthy, not because of choice, but because of the system they’re stuck in.
  1. Retail vs Bulk Spending
The wealthy often buy in bulk, unlocking discounts and benefiting from economies of scale. They buy in large quantities reduces the cost per unit. The poor, on the other hand, live hand-to-mouth. They buy only what they can afford in the moment, small quantities, at higher prices.
  1. Time is Precious
Time, too, is a very precious resource the poor are robbed of. The wealthy use technology to outsource time-consuming tasks. These tools allow them to focus on productive, high-value work, or simply enough time to rest.
The poor? Their daily survival is filled with unpaid labor.
  1. Access to Information and Opportunity
The wealthy are plugged into networks—formal and informal, where opportunities, tips, and innovations flow freely. This keeps them locked out of better deals, job openings, or even knowledge about affordable alternatives.
  1. Punished for Having Less
Finance: The wealthy avoid high fees by meeting minimum balance requirements or using digital tools. The poor are stuck with high transaction costs for every tiny movement of money.
Health: The poor experience delayed treatment due to cost, and pay more in the long run when the illness worsens. The wealthy treat early or even preventively.
The wealth gap is not just about income—it’s about structure.
The systems of finance, retail, health, transport, and technology are built to reward those with more. And to drain those with less.
It’s not fair. It’s not efficient. And it’s not sustainable.
Can this be fixed?
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5 sats \ 0 replies \ @Signal312 12 Jul
I was living for a time in Nicaragua, decades ago, on a homestay type trip.
The family I was staying with once took me to a beautiful clear stream once, where people do laundry and also washed their hair.
The thing I will always remember is that - they had no shampoo, so they bought little one-time-use packets of shampoo from a roadside vendor, on the way up to the stream.
Buying it like that must have cost tons more than just buying a bottle of shampoo once.
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5 sats \ 0 replies \ @OT 12 Jul
I think it can be many things. Buying habits like a large utility bill or a car. A wealthy person (or someone with savings) can pay it outright without any issue whereas the poor need to pay in installments with interest.
Debt and interest repayments continue to roll over without any increased income traps them in a vicious cycle.
Still a savings mentality seems to get people out of poverty. You can see this with migrants in wealthy countries. They start with nothing and over a generation set themselves and their kids up for a prosperous future.
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42 sats \ 1 reply \ @denlillaapan 12 Jul
They idiots?
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9 sats \ 0 replies \ @Undisciplined 12 Jul
Oftentimes, but that makes people uncomfortable.
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0 sats \ 1 reply \ @cryptoshalix 17h
This topic contains a painful truth: poor people are poor because they want to be. It's that simple, that plain.
If you want to generate wealth, use your talents *(of which you have many) *to help others, and in that process, you will achieve wealth.
If, in addition, you live below your means, with just the bare minimum, you'll reach your goal sooner.
You don't need to eat three times a day; one good meal, with the necessary nutrients, gives you enough to last more than 24 hours without eating.
In the summer, you can even sleep on the street without a problem, especially outside of large cities.
In the winter, there are shelters all over the world; you can travel and sleep (with six hours is enough, no more is needed) anywhere.
If you're already generating enough capital to pay for transportation like a car or van, you already have a "home" where you continue to grow.
But this is for the lazy, because if you put your mind to it, you can go further.
Many millionaires and celebrities have been poor in their past.
It's a tough topic that requires time to talk about how the mind sabotages us.
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0 sats \ 0 replies \ @guerratotal 14h
You don't need to eat three times a day; one good meal, with the necessary nutrients, gives you enough to last more than 24 hours without eating.
It's true, in Cuba, we ate three times a day, and for lunch and dinner we ate rice, beans and meat. It's incredible but it's true. When we migrated to Brazil, one of the things we've been changing and saving money with is changing that mentality. We had a good breakfast, a good lunch and a light meal at night. Even our body has thanked us and so has our wallet.
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0 sats \ 0 replies \ @d680ecaa8e 12 Jul
Wealthy persons even could think about not paying workers or try reduce amount of pay so what about real life inquiries, poor people doesn't have much money so spend well on themselves.
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0 sats \ 0 replies \ @unschooled 12 Jul
when i first decided i wanted to start saving money, i went to the bank (lol - in hindsight, how foolish this was). they set me up on a managed account. i just had to pay a small fee and they would allocate my money for me. obviously, this is not just a little bit ridiculous. but it was self inflicted. better options were always there, i had just been duped into not seeing them. i was becoming poor, because i didn't know better. so a better question might be whether poor people are throwing away a higher proportion of their wealth, and if they are, then why don't they do something about it.
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