Quote Of The Day

“… the distribution of those costs and benefits seems to be uneven. Affluent households probably don’t even know what their bank’s minimum balance for fee-free checking is, because their savings never dip anywhere near it. For low-income households, on the other hand, even small fees, or modest minimum balances, can represent a financial headache. Similarly, people with low incomes are most likely to be inconvenienced when stores set higher minimum purchases for accepting credit cards.” — Megan McArdle

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