Why loans cost money

Why loans cost money

Boots theory Boots theory is the idea that being poor is expensive. It comes from a Discworld novel, where a character observes that being poor, he can’t afford a good pair of boots. Instead he buys cheap boots that don’t last nearly as long. The cheap boots cost less money upfront, but are ultimately more expensive since they frequently need replacement. Taken literally, I’m not sure how accurate the story is. Is it really true that cheap boots…