The Price of Poverty

3 min read

There is a high price to pay for living the life of those who don’t have any resources to pay it. Most people can imagine that being poor isn’t ideal. But what a lot of people don’t realise is that their idea of poverty might be wrong. There is poverty in the Western world. Poverty does, in fact, happen in the richest countries too. Sometimes, it is just difficult to imagine what that looks like if it isn’t happening in a Unicef commercial. Moreover, poverty often perpetuates itself. There is an actual concept called the “poverty trap.” This is a cycle…...

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Merle van den Akker Merle van den Akker is a PhD student in Behavioural Science, at the Warwick Business School. She studies the effect different payment methods, especially contactless and mobile methods, have on how e manage our personal finances. In her "free" time she writes articles on personal finance, behavioural science, behavioural finance and life as a PhD student, these are all published on Money on the Mind. With DDI, she writes on personal and behavioural finance, to ensure that knowledge from academia trickles into the mainsteam, and can help as many people as possible!