others have made this point better than i have, but if you don't have cash on hand to pay bills, you end up spending and owing more money than if you did have that cash at the ready. this "more" takes the form of late fees; bounced check fees; usurious interest rates on cash advances; the fast food lunch that you have $1.99 for because you don't have t he $100 for a whole grocery trip that would have allowed that lunch to be $.50 (my keyboard doesn't have a cents sign!) (not to mention time). plus fees for transactions over the phone or over the internet if one has a phone or internet, and who has time to go to a branch? seems logically, morally, ethically, philosophically, practically, financially and even biblically (isn't usury forbidden?) wrong to punish people who have little money by making them have even less money.
UPDATE: also politically and metaphysically. wrong, that is.
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2 comments:
Preach it!
Your post made me recall an F. Scott Fitzgerald essay/magazine article or some such thing I read where he observed how expensive it would be to economize. He mentioned some of the same items you cited. The only specific item I can still recall was the expense of the 2 week severance pay for the servants. I also note, many have made the same point about the cost of being poor.
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