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Uploaded:2021-05-04
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In this episode, Chelsea talks about the high costs of poverty, and the higher premiums people living in poverty often have to pay.

Federal poverty line: https://aspe.hhs.gov/poverty-guidelines

Food spending stats: https://www.ers.usda.gov/data-products/ag-and-food-statistics-charting-the-essentials/food-prices-and-spending/#:~:text=In%202019%2C%20households%20in%20the,representing%208.0%20percent%20of%20income

Lower cost of less nutritious food: https://naldc.nal.usda.gov/download/34238/PDF#:~:text=In%20rural%20areas%2C%20food%20prices,percent%20above%20the%20national%20average

Food deserts: https://foodispower.org/access-health/food-deserts/

Auto loan interest rates: https://www.creditkarma.com/auto/i/what-are-subprime-auto-loans

Necessity rental prices: https://www.nerdwallet.com/article/finance/rent-a-center-prices

Cost of frequent moves: https://www.census.gov/prod/1/statbrief/sb94_18.pdf

Working multiple jobs: https://www.census.gov/library/stories/2019/06/about-thirteen-million-united-states-workers-have-more-than-one-job.html

Health insurance premiums: https://www.ehealthinsurance.com/resources/small-business/average-cost-of-employer-sponsored-health-insurance

No health insurance: https://www.census.gov/newsroom/press-releases/2020/income-poverty.html#:~:text=The%20number%20of%20people%20in,point%20during%20the%20year%2C%20respectively.&text=The%20Supplemental%20Poverty%20Measure%20

Annual physical costs: https://health.costhelper.com/physical-exam.html

Recurring bills: https://www.washingtonpost.com/news/posteverything/wp/2018/01/25/why-it-costs-so-much-to-be-poor-in-america/

Bank fees: https://www.thebalance.com/bank-fees-you-need-to-stop-paying-3576590

Need-based programs costs: https://files.eric.ed.gov/fulltext/ED485918.pdf

Check cashing: https://www.nerdwallet.com/article/banking/cash-check-paying-high-fees

NCSL: https://www.ncsl.org/research/financial-services-and-commerce/payday-lending-state-statutes.aspx

Most underbanked communities: https://www.americanprogress.org/issues/economy/reports/2014/10/30/99967/millions-of-americans-are-outside-the-financial-system/

Watch more of The Financial Diet hosted by Chelsea Fagan here: https://www.youtube.com/playlist?list=PLD30V46E07RR99cC0gCjKUbt-BKoDUcnc

The Financial Diet site: http://www.thefinancialdiet.com

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