Guaranteed income for pregnant citizens
Delaware is testing a guaranteed income program to assist low-income pregnant individuals.
Beneficiaries get a $1,000 monthly payment on a debit card to cover required costs.
A local community center also offers beneficiaries services like as financial counseling.
To be eligible, candidates must be under the federal poverty line, in their first or second trimester, and live in a high-risk zip code.
Dr. Priscilla Mpasai, chair of the Delaware Healthy Mother and Infant Consortium told local outlet WDEL News: “The goal in that when they’re in the program now with the stipend is to understand financial management and literacy, in addition receiving wrap-around services that will support the other determinants of health.”
Poverty rates reached their highest levels
Over the last two years, the majority of Americans’ household financial health has deteriorated.
Average Americans had saved barely 4 percent of their disposable income in the fourth quarter of 2022.
Just two years ago, Americans saved 14 percent on average.
Forbes reported that household debt increased by 16 percent to $16.9trillion, while poverty rates reached their highest levels since 2018 in 2021.
Full retirement age, explained
In 1983, Congress created a law to redefine FRA.FRA now works on a sliding scale to adjust for the fact that people are living longer and generally healthier lives.
The current FRA increases a few months for each birth year, until hitting 67 for people born in 1960 and later. This change applies to everyone born in and after 1938.
The Social Security Administration (SSA) provides an online calculator for determining your FRA.
They also provide a retirement age chart.
Mental health strained by financial hardship, continued
According to Bankrate’s April 2022 Money and Mental Health research, more than 40 percent of United States citizens reported that money had a negative influence on their mental health.
Price increases in transportation, energy, and grocery expenditures are said to be the leading causes of stress.
Other concerns mentioned include supply chain difficulties and global uncertainty.
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