Tuesday, July 15, 2008

WHY THE RICH GET RICH AND POOR GET POORER

I was surprised at the results of a study conducted by a research firm regarding the use of money savings coupons. According to the research, manufacturers offered 302 billion coupons at an average face value of $1.28 each. The number of coupons redeemed? A mere 2.6 billion or less than 1 percent.

What was really surprising, was who were the most avid users of these coupons. It wasn't the people who could use these savings the most, but rather well educated women with a bachelor or masters degrees. Also it was households with income levels of $150,000 or more.

Many people were exhilarated at receiving the one time $600 stimulus check from the government. But by using those coupons they could average anywhere from $600 to $900 every year in savings.

And what do the poor fools do? They spend days on end waiting in line to get the latest bell or whistle that comes out on the market, paying top dollar, unable to wait a month or two until the prices drop drastically. Then we wonder why we have such a disparity between the haves and have nots?

I could ramble on, but I have to fill out and mail a coupon for $10 I received after having the oil changed in my car yesterday. I might not have that bachelors or masters degree, but I am smart enough to take that ten dollar savings they are giving me and use it.

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