The Poor forking out £1,300 a year more in hidden extras
Are you poor? You are? Well that’s a shame, because as well as being at the bottom of the income pile, you’re also shelling out a small fortune MORE than the rest of us. Or at least that’s what Save The Children reckon – and they’ve never lied to us before.
They claim that it costs more to be poor for a whole variety of reasons in 2011 Britain. These include the fact that The Poor are more likely to use costlier pre-pay meters, buy items on high-interest hire purchase and pay more in insurance premiums as a result of living in high-crime areas.
Throw in the fact that around 700,000 members of The Poor don’t have bank accounts and have to pay as much as £12 to cash a cheque and it’s a wonder that the underclass haven’t completely died out altogether.
All in all, Save The Children believe that The Poor are forced to fork out almost £1,300 a year more than those of us who aren’t trapped in the horror of true skintiness. Which sees them spiralling into debt and borrowing from high-interest ‘doorstep lenders’. Big Society? Hmmmm...
The report was put together with the help of The Money Saving Expert, Martin Lewis, who is probably not a member of The Poor.