10 Things Poor People Buy Often That Rich People Rarely Spend A Dime On
Hryshchyshen Serhii | Shutterstock The gap between the rich and the poor continues to widen, with wealth inequality reaching its widest gap in more than 30 years. Between low wages and declining employment, people are pinching pennies everywhere they can. Still, there are certain things poor people buy often that rich people rarely spend a dime on, despite being more limited in financial opportunities.
Whether it's the latest trendy item or making purchases in bulk, lower income families seem to spend their money on products that offer convenience or instant gratification, as well as perceive themselves as higher status. But this can keep them trapped in a cycle of poverty. Unfortunately, it's a lifestyle that rich people will never quite understand.
Here are 10 things poor people buy often that rich people rarely spend money on:
1. Fast fashion
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While everyone has their criticisms about fast fashion, it isn't going away anytime soon. According to the Michigan Journal of Economics, "Consumers now care less about the quality of clothing because they intend on throwing it away or getting rid of it once a trend passes. In fact, over 50% of clothing produced by fast fashion brands is thrown away after one year of purchase."
Unfortunately, fast fashion preys on two things: people's ignorance and their vulnerability. For those who are low-income, they feel as if they have no choice but to buy items like this. Being an affordable option with on-trend clothing, fast fashion is something poor people often buy that rich people wouldn't need to spend a dime on, as they likely have the means to afford clothing made sustainably.
2. Pre-packaged groceries
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People who are low-income tend to rely on convenience. In a world that's becoming increasingly more expensive, the last thing people want to do is spend time cooking. So, they'll opt for pre-packaged groceries or meals, which higher income individuals likely won't spend any money on.
From having people who cook for them to cooking healthy meals at home with organic food, there are a ton of reasons why they'd never eat pre-packaged meals. Many rich people are far too particular, whereas poor people don't always have much of a choice.
3. Lottery tickets
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With everyone struggling, who is buying lottery tickets? While it may seem strange, lottery tickets are purchased by a specific demographic. Low-income individuals spend 33 times more of their income on lottery tickets than higher income people do. Additionally, 28% of Americans who earn less than $30,000 a year play the lottery at least once a week. It doesn't sound like much, but that's around $412 a year. And it adds up.
On the flip side, households making $75,000 and above spent $105 per year, one-quarter of what low-income homes spend. And while it may sound like a ridiculous decision, people who are desperate and looking for a way out tend to make more risky choices, which can explain why they throw so much money at lottery tickets in the first place.
4. Disposable products
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If someone were to ask the average struggling person if they have paper plates or cups in their home, they'd probably say yes. It may not seem like the wisest decision, as ceramic or plastic plates are washable, as opposed to paper products that cost money and add up over time.
But for those who are overworked and don't feel like doing a big clean-up day after day, disposable products make the most sense. Especially if they have a large family, it's something poor people buy often that rich people would likely never put a dime into.
5. Second-hand anything
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The average person doesn't have thousands of dollars to throw around. While they'd love to spend money on expensive couches or new books, low-income people tend to shop second-hand. And unfortunately, there's always been a stigma around people who shop second-hand. Wealthy people likely wouldn't be caught dead in a thrift store. However, shopping second-hand can be fairly positive, and not just financially.
According to the Center for Biological Diversity, rather than let clothing end up in landfills, buying second-hand items is better for the environment. So, while they may not have the money for brand new furniture, clothing, or even decor, shopping second-hand is almost as good as brand new products.
6. Subscriptions and streaming services
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If there's one thing everyone has learned in the past few years, it's that there's no low that companies won't go to in order to turn a profit. Entirely focused on saving money and getting wealthier, they often cut costs at the expense of their consumers. And while poor people do their best to cut costs on a personal level, they still want to indulge in subscriptions and streaming services.
Whether it's Spotify, YouTube, Netflix, or anything in between, these subscription fees add up quickly. In the moment, it may feel like a good deal, as they're paying for convenience and unlimited entertainment. But low-income individuals don't always realize how much they spend on these services until they get the bill.
7. Energy drinks
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It's sad to think about, but low-income individuals are entirely overworked. Working paycheck to paycheck, they oftentimes burn out and become exhausted. While they'd love to rest and take a breath, those who struggle the most can't afford to stop. And they need an energy boost to get there, so they tend to purchase energy drinks.
They know it isn't healthy for them. In fact, according to a study published in Nutrients, these drinks can negatively impact the cardiovascular and cerebral systems. Still, some people don't have a choice and need something to get them through the day.
8. Trendy items
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Just because someone doesn't have the most money doesn't mean their life should be devoid of joy. While some wealthy individuals may say that people should stop spending money on coffee or avocado toast, the truth is that low-income people deserve nice things, too. Because money shouldn't define the amount of pleasure and luxury a person has.
Especially when they see those around them buying Stanley cups or a new skincare product, trendy items are something they'll buy that rich people rarely spend anything on. Many rich people hate being part of the regular consumer base, and tend to go for items or products that aren't as trendy or recognizable to the average crowd.
9. Daily ‘quick fix’ purchases
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The average person doesn't have spare money to spend on new appliances, car repairs, or other situations that require some kind of "emergency" fund. Already struggling as it is, they opt for quick fixes, praying for the best. However, they're essentially just putting band-aids on those problems that will eventually need to be addressed.
On the other hand, because they have the time and resources to get it done, wealthy people choose to tackle the problem immediately. That might mean hiring a professional rather than doing it themselves.
10. Buying in bulk
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Poor people often buy in bulk, which does save money, especially for larger households. There are often discounts on bulk that are usually available, meaning customers don't have to wait for a sale to start or have to choose a cheaper brand.
However, while many low-income families do this to save or to have an emergency stockpile, wealthy people aren't concerned at all. They're financially secure, so they don't need to worry about pinching pennies or having to opt for something cheaper. They don't shop with the intention of cutting costs.
Marielisa Reyes is a writer with a bachelor's in psychology who covers self-help, relationships, career, family, and trending topics.
