Re:Survey: 69% of Americans Have Less Than $1,000 in Savings
by bisby on Sunday October 16, 2016 @07:37PM
(#12721702)
I don't disagree with that. But that makes it at best a "semi-necessity".
But that just makes the whole "if you give someone in need 600$, they will spend it on an iphone" MORE valid. If you need status symbols just for the symbol, you might wind up skimping on physical necessities (car repairs, rent, food, etc). Whether or not that is their fault could be up for debate, but it makes the statement itself all the more true.
I only have anecdotal evidence, but people who are poor because they have bad decision making skills would drop 600$ on some "status symbol" trifle without a second thought. People who are poor because of bad luck/circumstances will try their best to save it, or spend it on bills, food, etc.
But that just makes the whole "if you give someone in need 600$, they will spend it on an iphone" MORE valid. If you need status symbols just for the symbol, you might wind up skimping on physical necessities (car repairs, rent, food, etc). Whether or not that is their fault could be up for debate, but it makes the statement itself all the more true.
I only have anecdotal evidence, but people who are poor because they have bad decision making skills would drop 600$ on some "status symbol" trifle without a second thought. People who are poor because of bad luck/circumstances will try their best to save it, or spend it on bills, food, etc.