Cash-poor Americans paid $8 billion more for loans last year. Here’s how to avoid hidden costs
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Borrowers are paying a steep price to manage their lives—often out of desperation rather than choice. This environment doesn’t just perpetuate financial instability; it actively widens the affordability gap.
For millions of Americans living paycheck to paycheck, borrowing has become a necessary survival tool. In other words, they are “cash poor,” which refers to consumers with limited savings who find themselves strapped for cash when faced with an emergency expense.