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+Budgeting | December 31, 2009

Why People Are Poor: No Savings Accounts. Also: Booze, Cigarettes, and Whores

By Brad Tuttle

One reason people live poverty-stricken lives in developing countries like Nicaragua is that jobs pay meager wages. Also, there aren’t that many places to save your money. Also, workers spend a big chunk of what little money they do make on vices, including alcohol, prostitutes, and Coca Cola.

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