When us poors run into trouble, we have to deal with it immediately, without a chance to plan for it or save up for it or make other arrangements, so we have to buy the cheap boots, because we don’t have the financial buffer to absorb the impact of the 50 dollar boots on our budgets, even knowing it will save us money in the long run, because we’re living so threadbare that money is stretched to the limit.
Its ultimately the lack of economic flexibility.
When us poors run into trouble, we have to deal with it immediately, without a chance to plan for it or save up for it or make other arrangements, so we have to buy the cheap boots, because we don’t have the financial buffer to absorb the impact of the 50 dollar boots on our budgets, even knowing it will save us money in the long run, because we’re living so threadbare that money is stretched to the limit.