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Bernard M -- Taipei English Tutor

Bernard M - English Conversation / TOEFL / IELTS 一對一英文會話

Thursday, December 24, 2015

It’s expensive to be poor FROM The Economist

Things are even worse in the US than I thought. Here are a few facts according to the article:
  1. Many use money orders from a bank which cost $7.00.
  2. 8% of Americans have no bank account.
  3. Many places charge 2-5% of a check's value to cash it.
  4. Payday loans can charge $15 per $100 borrowed.
  5. 50% of American households have trouble with an unexpected $400 bill.
  6. There are actually "high-cost short-term loans secured against imminent tax refunds."
  7. 50% of those earning below $30,000 [luckily!] do not own a smartphone.

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