Being broke is so expensive. Any money you receive has an immediate purpose: food, gas, a necessary utility–money isn’t just sitting around unused. That means money cant just sitting in a bank and unless you have a job that affords you the luxury of direct deposit (without worrying the money will be taken from you before you can get your hands on it) your bank charges you a service fee of $12 for not maintaining the minimum monthly balance and even if you don’t get overdraft fees that means your account may very well just sit there around -$12 making your bank account unusable.
So ok you are literally being charged money for not having money. And this isn’t even money with interest! What about loans? When you can’t pay the minimum monthly payment due not only does your account face danger of going into collection status, but in the meantime your credit is being affected. It’s really easy to get enough late pavements to significantly impact your credit (if your payment history shows less than 97% on time payments that is a significant blow against your credit rating).
So bank accounts and credit are both shot.
Ever try buying OR renting a vehicle with awful credit? Or getting an apartment/house FOR RENT with bad credit EVEN if you’re currently making enough money to afford the rent? And opportunities to secure housing or transportation are often contingent upon increased down payments…more money.
Job opportunities that offer a significant increase in entry level salary often require certifications…that cost money.
Interview clothes cost money, haircuts cost money, internet access costs money. Self reliant work like Lyft/Uber require you to have a newer vehicle…which costs money.

And yeah I’m aware that there are some loopholes and niche opportunities. SOME. But if that’s where your mind has wandered then you’ve missed the point.

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