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Two Cents

Two Cents

822,000 subscribers

👁 2,482,565 views

Why It's More Expensive To Be Poor

Video Overview & Insights

It’s not just a matter of having less money. For many people below the poverty line, some goods and services can actually be MORE expensive. How can that be?

Very funny to see a map of Vienna, Austria, with trader joes, Ralph's and whole foods kilometers apart when that city has in reality a very high density of grocery stores. Like if there is a city that does not know what a food desert is, it's Vienna

— @eeddvv

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My family used to be homeless and we only really got out of it because we had extended family, I can’t imagine how hard it must be for those alone, I’m lucky I was a child I thought we were on a vacation 😅. I’ll always be grateful to my family no one deserves to “live” like this, because it’s not living it’s surviving.

— @Kingkevo1738

Two Cents on Twitter: @twocentspbs

Email us: twocentspbs@gmail.com

This is the truth. It’s very costly to be in poor in usa.

— @rahulviveka2

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Two Cents was created by Katie Graham, Andrew Matthews, Philip Olson CFP® and Julia Lorenz-Olson and is brought to you by PBS Digital Studios. We love dropping some knowledge on all things personal finance and helping you make better money decisions.

boy this cheered me up

— @jprant6710

Two Cents is hosted by Philip Olson, CFP® and Julia Lorenz-Olson

Directors: Katie Graham & Andrew Matthews

Thank you for telling us the straight truth.

— @grantjoseph8050

Written by: Andrew Matthews

Executive Producer: Amanda Fox

CREDIT UNIONS are better than BANKS!

— @Seth_Elson

Produced by: Katie Graham

Edited & Animated by: Dano Johnson

Everything costs more because it was all molested by human trafficking child molesters more than everything else

— @zetasqadron11532

Images by: Shutterstock

Music by: APM

You should put the questions in the description or the comments

— @kamryn_breakker

SOURCES:

http://www.washingtonpost.com/wp-dyn/content/article/2009/05/17/AR2009051702053.html

No, it doesn't. It costs more not to plan ahead and have a budget

— @lukeroca5217

https://money.cnn.com/2017/11/28/news/economy/grocery-store-prices-wealth/index.html

https://www.economist.com/united-states/2015/09/03/its-expensive-to-be-poor

The uninsured pay the most for medical services. They are the only ones who are not getting a “discount” on the the ridiculously high “retail” price of medicines and medical services.
I was once sued by a private hospital and immediately dragged through debtors exam upon their award of judgment against me.
I eventually went to a state hospital, after trying to perform surgery on myself, and got better and more knowledgeable care there to stop a MRSA infection that was spreading around my body and starting to get into my bones.
The drawback with the state hospital was that unpaid bills went to the attorney general’s office for collection with a statute of limitations of 40 years!
It is critical that low income people become familiar with their state’s “exemption from seizure” limits so that they know what can and what cannot be taken from them to satisfy a debt.

— @Starski43

http://www.investmentzen.com/news/its-more-expensive-to-be-poor/

https://www.theatlantic.com/business/archive/2014/01/it-is-expensive-to-be-poor/282979/

Golly how lucky I was. We were not poor but we lived way below our means so that we could have college.

— @kellychuba

https://mic.com/articles/108068/astonishing-poll-shows-what-rich-people-really-think-of-the-poor#.OvezVY2Op

https://www.nytimes.com/2011/09/25/opinion/sunday/is-junk-food-really-cheaper.html

An alternative title would be "Dumb people make themselves poor through poor decision making".

— @mjr1965

https://mic.com/articles/126508/5-reasons-why-being-poor-is-actually-incredibly-expensive#.TWtVLGBu0

https://www.brookings.edu/opinions/the-high-price-of-being-poor/

My recent rent deposit was a grand! I freaked out! I had no choice but to pay it since at my last place my car got stolen.

I had to take out a loan to cover it. That's not counting the prorated rent I had to pay on top of that deposit. I didn't tell my parents about the loan because they have supported me all my life and I refuse to be a burden on them when they're close to retirement. So, I sacrificed and I paid the loan off. It took me almost 5 months to knock it out.

Meanwhile, I've spent most of 2025 being a social recluse since going out is expensive. I eat one big meal a day and allow myself one "pleasure purchase" every pay day (like a new book or a video game). I feel so hopeless these days, however.

I feel like I will always be poor.

— @Eis4Electric

https://mashable.com/2015/12/08/supermarkets-food-deserts/#MGDIl2_UuSqp

https://wallethub.com/edu/credit-card-interest-rates/52541/

"very few have an understanding of what real poverty looks like", guess again retards

— @dodgecoates9949

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4772793/

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5580618/

Theres a thing called credit unions that dont charge a fee and direct deposit. Anyone from poor to rich can get a bank account.

— @Stogsdill8

https://flowingdata.com/2018/02/08/how-different-income-groups-spend-money/

😭

— @vatofatorebelio

More User Perspectives

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Update

@luisduron2722
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Educators should add this channel to any mandatory financial literacy course, if such a course even exists.

@sehwanj
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Solution to this Problems: Islam!

Allah declared WAR on those who charge Interest!

@ravenangel3152
@

Suddenly village life seems superior

@normalstranger6482
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I have always said that you can only be poor of mindset. Being in a hard financial situation I consider it being broke. After watching all the examples mention... I think I have lived so far as a broke person. :(

@maureenmedina5216
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Poverty is not even a thing. Its made up by human ego. greed, wants and control.

@MrAvidOutdoorsman
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Does anyone know if some of this applies in Europe?

@mymail1938
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Rich people get free money, poor people can’t even get money.

@Fstop5.6
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This taught me was im poor and always have been 🤣😭

@Esticsmtgsidequest
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Yes thankfully this overdraft facility is not available to poor people in india, otherwise they would be not living 😢

@Gurpreetsinghpreet1
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I loved this video😘

@angelinaxsimon
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She's pregnant 🤰 congrats❤

@technoville
@

This doesn t apply in Europe... Where i live the best areas don t have big supermarkets... Most of them are not central but far away where rent is less...And most people live without a Credit card.. Most we have a debit card or they use cash....

@dianaconstantinescu9986
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😮😢

@FlatEarther-g6m
@

Boom baadal

@FlatEarther-g6m
@

Section 8 handle a lot of the monthly rent so that’s moot. You do t have to stay in an extended stay motel.

@Miketee-y8m
@

Discover bank offers free checking with no minimum

@Miketee-y8m
@

Why do I find the delivery of this 'ick'

@rusticmamma9264
@

chime has free atm fees at walgreens

@JustinNelson-kx7qy
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Watching this in 2025 sucks because this was right before the 2020 inflation so groceries now are about as expensive as fast food shown in this video and fast food is so incredibly expensive now

@patrickgroening5664
@

This video does little to help those with little to no money. It seems to be aimed and causing guilt in everyone else. I enjoy the other videos that give helpful personal finance advice

@reedme
@

1:11 El propósito de la vida es alcanzar la riqueza y la salud... Para mejorar la vida en comparación con las generaciones anteriores... La religión es veneno, y el matrimonio es un ataúd, y cada niño es un clavo en ese ataúd... Los líderes religiosos y los políticos están detrás de lo mismo pero a su costa... El conocimiento es poder, y con el poder viene un mayor saldo bancario... # #MeridianCU🌎💘💰

@luckyloonie1359
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Thats way you avoid living in the us :)

@nko4451
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The US system has not declared war to poverty, but to the poor.

@nornje
@

last month i forgot about monthly ticket and didn't have enough money on the accout from which it is collected. the transfer didn't succeed so i got instant 3 euro fee from bank. a week later i got a letter stating that i get 8 euro fee from bank (on top of this 3 euro they already got) and another 8 'manipulation fee' to send me this letter AND information that it will be collected next month. i got no possibility to pay it myself but i got possibility to pay more than double next month! i bet they hope i won't be able to do so and my debt will grow.

@AsterFoz
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“The other half” no it’s more like the 10% not half

@Goblingimp
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'Merica!

And that's why minimum wage should actually be livable...

@JustAnotherPerson3
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I am not from USA, I can't understand why people use credit cards at all, its seem all the problems in this country is because of people spending money they don't own

@lexxfirecore123
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That's right people, don't be poor! Jesus!

@Me-tuber
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lol you don't just need a debit card... there needs to be money in the bank account that is linked to that debit card lol

@LeaG93
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This is why in Brazil we have a plan that every bank is obbligated to have that covers a basic amount of operations for free (not to mention PIX, which is also free and instant, makes other types of money transfers kinda obsolete)

@raven-a
@

A difficult trap to get out of. Having money leads to more money...having nothing or too little leads to debt. Shifting the balance is incredibly difficult

@kaystream8108
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"Awareness of how the other half lives"

It's not a half, but 1-2% actually.

@dmitryivanov9026
@

All I'm hearing is being irresponsible cost more. Free checking is all over the place. If it is so much cheaper to shop elsewhere, get an Uber, or ask a friend. Don't mess up your credit in the first place so you can get the good rent. Don't overdraft your account, and open an overdraft line of credit. The list goes on...

@court2379