This program pays some NYC moms as much as $1,000 a month

0

Image source: Getty Images

his new Guaranteed Income Program is helping low-income moms in NYC.


Important points

  • Guaranteed income programs can help improve financial stability.
  • A new program supports new and expectant mothers with monthly payments of up to $1,000.

Being a parent is hard work — and expensive. Thanks to a new program called The Bridge Project, some New York City moms are getting as much as $1,000 a month. This guaranteed income program helps expectant mothers and new mothers navigate parenthood with fewer financial worries. Learn more about this unique program and other similar programs.

The idea of ​​a guaranteed income or a universal basic income is not new. Advocates say a guaranteed income could significantly reduce poverty, help people feel more financially stable and improve mental health.

The United States as a whole does not have this type of program, but some states and cities have experimented with their own programs. A pilot program for mothers and expectant mothers started in NYC last year.

The bridge project helps mothers on low incomes

In NYC, The Bridge Project hopes to help mothers and young children. Launched in 2021 by the Monarch Foundation, the program supports low-income mothers in the first 1,000 days of their children’s lives.

Expectant mothers and mothers of young children receive monthly payments of $500 or $1,000. To date, the program has 100 participants. The program is not currently accepting new applicants. Later in 2022, the program will expand to serve 500 additional mothers.

Programs like this can make a big impact. More than a third of NYC’s young children live in families that cannot afford one or more basic needs. With direct cash payments, mothers can better care for their children during the most critical years of child development.

Other Guaranteed Income Programs in the United States

NYC isn’t the only city with guaranteed income programs. Here are some examples of initiatives launched in other parts of the country:

  • Alexandria, Virginia: The Guaranteed Income pilot program will provide monthly payments of $500 to 150 Alexandrian households for up to 24 months.
  • Columbia, South Carolina: The CLIMB pilot program is helping 100 fathers by providing $500 monthly payments for 12 months.
  • Los Angeles, California: The Guaranteed Basic Income: Los Angeles Economic Assistance Pilot pays approximately 3,000 people $1,000 a month for a year.
  • Santa Fe, New Mexico: 100 Santa Fe Community College students and their families will receive $400 in monthly payments for a year through the Santa Fe LEAP program.
  • St Paul, Minnesota: The People’s Prosperity Guaranteed Income Pilot gives 150 families $500 a month for 18 months.

These programs can make it easier for individuals and families to afford daily necessities and pay for their utilities and rent. Nobody should have to go without the essentials.

While many individuals and families can use a savings account to prepare for emergencies and upcoming expenses, not everyone has the funds. If there is never extra money or enough money to make ends meet, saving is impossible – meaning the cycle of poverty continues.

It will be interesting to see if guaranteed income programs like those mentioned above become the norm in the United States. If so, many might find their financial situation greatly improved.

If you are struggling with financial matters, you are not alone. If you need tips and guidance to improve your own financial situation, check out these personal finance resources.

The top credit card is wiping out interest rates by 2023

If you have credit card debt, transfer it to this top balance transfer card secures you a 0% introductory APR in 2023! Plus, you don’t pay an annual fee. These are just some of the reasons why our experts rate this card as a top choice for getting your debt under control. Read the full review of The Ascent for free and apply in just 2 minutes.

Share.

Comments are closed.