https://www.federalreserve.gov/consumerscommunities/sheddata...
You don't need to buy the membership with cash. Credit card, pay off $3-5 a week with your food savings, you'll barely pay any interest.
Also not having $400 would have to be the number after buying food with your paycheck, right? If you get the membership as part of your first food purchase, including that nice bag of rice, you'll be okay.
I’m guessing you don’t know many lower income people.
Not only are credit cards generally not part of the picture for these folks, but often they don’t even have bank accounts.
And for buying in bulk (which is basically what Costco offers) to work, you need a larger amount of available cash up front, and a home with sufficient safe space for storage.
And of course you need some sort of transport to bring your bulk purchases home from the Costco, often built on cheap land away from dense housing.
I'm not assuming that. If you get a paycheck at all you can impulse buy a $65 thing.
> And for buying in bulk (which is basically what Costco offers) to work, you need a larger amount of available cash up front, and a home with sufficient safe space for storage.
The bag of rice is cheap and compact, along with many other options. Your upfront need can be covered by your normal spend.
Yes it does need a mild amount of safety.
> transport
For sure, but I was responding about the $65 issue.
> I'm not assuming that. If you get a paycheck at all you can impulse buy a $65 thing.
Not to buy the membership, but to gain meaningful benefit from it afterwards by buying in bulk in the long term, despite the greater upfront cost, motivation, planning, etc. that that requires.
If you want it, it's one choice to make. No extra discipline.
I would be very very surprised if there were not adjustments that could be made that would significantly uplift these peoples situation
A smartphone is not an optional component of modern life. You need a smartphone to apply for many minimum wage jobs now