“It’s pricey to be poor. Tracy Fischman, executive director of the St. Paul-based nonprofit Prepare + Prosper, points out that low incomes and poor credit will net higher interest rates on home, car and business loans, and can even complicate a job search. Many employers won’t hire an applicant with a troubled financial history. Even home and auto insurance in urban, low-income areas may be more expensive, if the traditional market serves the area at all.”

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