Tag: guaranteed income

New Orleans tried giving young people $350 a month to help with finances. Did it work?

New Orleans tried giving young people $350 a month to help with finances. Did it work?

Dancers perform during the NOLA Youth Town Hall at the New Orleans African American Museum on Saturday, August 3, 2024. (Photo by Matthew Perschall, The Times-Picayune) STAFF PHOTO BY MATTHEW PERSCHALL For nearly a year, New Orleans tried giving $350 a month to a group of young people, part of a privately funded experimental program to see if a universal basic income would make a significant difference in their lives.

Now a new report by the University of Pennsylvania’s Center for Guaranteed Income Research has detailed the results of that program.

It found that the money helped ease some of the […]

Great news if you live in one of these 5 states: New $500 Stimulus Checks in monthly payments

Great news if you live in one of these 5 states: New $500 Stimulus Checks in monthly payments

Great news if you live in one of these 5 states: New $500 Stimulus Checks in monthly payments 1 As financial strains continue to impact millions of American households, five states are stepping up with a groundbreaking initiative. The government agreed to provide $2,000 to $3,000 in monthly $500 stimulus checks for qualified residents. Such checks offer poor people and families an economic cushion to afford necessities. Well, if you are a California, New York, Michigan, Washington, or New Mexico resident, then you are probably among the lucky people to receive this lifeline. Now, it’s time to discover what […]

Independent yet protected: how AXA reinvents safety nets for the self-employed

The landscape of work has shifted dramatically in recent years. COVID-19 has accelerated changes in how we work, with many corporate offices embracing remote work and a surge in freelancing jobs. This transformation has significantly reshaped our professional lives .

However, being self-employed may also mean being exposed to certain professional vulnerabilities if individuals are not properly protected. In response to these challenges, AXA is championing the cause of the self-employed with its global brand campaign, emphasizing that being self-employed shouldn’t come with unnecessary risks. Despite the many unpredictable risks and uncertainties that lie ahead, the company maintains […]

Universal Basic Income, Need, Advantages and Disadvantages

Universal Basic Income, Need, Advantages and Disadvantages

Featured Image Context: The concept of Universal Basic Income (UBI) has gained momentum globally, especially as automation and AI-driven technological advancements have led to jobless growth. What is Meant by Universal Basic Income (UBI)?

It is a form of guaranteed income where every citizen or resident of a country is provided with a fixed, unconditional amount of money on a regular basis, regardless of any other income they may earn. Advantages of Universal Basic Income (UBI)

Improved Targeting of the Poor: UBI eliminates exclusion errors, ensuring no poor citizen is left out of welfare benefits. It ensures marginalised communities […]

Universal Basic Income

Universal Basic Income

Syllabus: GS3/Financial Inclusion Context

Due to the phenomenon of jobless growth , i.e., the rise in output and labour productivity without the commensurate growth in employment generation, several countries have mooted the idea of a universal basic income (UBI).

About This idea has gained traction, especially since the International Labour Organization (ILO)’s most recent World Employment and Social Outlooklinks the decrease in jobs growth and the increase in inequality to a surge in automation and the use of artificial intelligence (AI). Among the several suggestions on the ways to address this is a UBI. What […]

Viability of Universal Basic Income in India

Viability of Universal Basic Income in India

Syllabus: Indian Economy

Source: TH

Context: With automation and AI reducing job growth , the idea of UBI is gaining momentum globally, including in India. While some argue that UBI can address the lack of demand and rising inequality, others suggest that India’s focus should be on expanding social safety nets rather than a full UBI. What is Universal Basic Income (UBI )? It is a social welfare scheme that provides a fixed, unconditional cash transfer to all eligible individuals or households, irrespective of their income or employment status. The concept of Universal Basic Income (UBI) […]

Understanding Treasury Bonds: Are They Right for Your Portfolio?

Understanding Treasury Bonds: Are They Right for Your Portfolio?

United States IRS Check and Envelope Resting on Money. Treasury bonds are the cornerstone of many investment portfolios, offering investors a safe and reliable way to invest in the U.S. government. These long-term debt securities are backed by the full faith and credit of the U.S. government, making them one of the most secure investment options available. Treasury bonds offer fixed interest payments, known as coupons, which are paid semi-annually to bondholders. These regular income streams make them attractive to investors seeking predictable returns. Additionally, treasury bonds have a maturity timeline ranging from 10 to 30 years, providing long-term […]

Unconditional Cash: Does Universal Basic Income Increase Entrepreneurship?

Unconditional Cash: Does Universal Basic Income Increase Entrepreneurship?

Oura – Your Success is in Your Hands A hand holds out several one hundred dollar bills. In July, OpenResearch released the results of its Unconditional Cash Study . This study is the largest unconditional cash study to date, and the results have shown that increased access to cash does improve financial well-being and savings. The results of this study have provoked dialogue concerning the role of unconditional cash and universal basic income (UBI), particularly as technology continues to improve.

The Stanford Basic Income Lab defines UBI as “a regular cash payment to all members of a community, without a […]

NS&I issues warning to people who have Growth or Income Bonds

NS&I has reduced interest rates on some fixed-term products. Interest rate reductions have been confirmed for some of NS&I’s fixed-term products, effective from today, 11 September 2024, according to the financial provider.

Changes will ensure NS&I’s interest rates are positioned appropriately in the wider market and help NS&I to balance the interests of its savers, taxpayers and broader financial service sector. New Issues of NS&I’s 2-year, 3-year and 5-year British Savings Bonds have gone on sale today, 11 September 2024, with new interest rates reflecting the changing savings market.

British Savings Bonds are fixed-term Issues of NS&I’s Guaranteed Growth Bonds […]

NS&I slashes interest rates on popular savings accounts to reflect ‘changing market’

NS&I slashes interest rates on popular savings accounts to reflect 'changing market'

Interest rates on certain NS&I savings accounts have been reduced by as much as 0.35 percent.

14:08, Wed, Sep 11, 2024 | UPDATED: 14:20, Wed, Sep 11, 2024

1 Bookmark NS&I slashes interest rates on popular savings accounts to reflect ‘changing market’ (Image: Getty)Savings giant NS&I has rolled out updated versions of its British Savings Bonds, now featuring lower interest rates . The Treasury-supported establishment has announced that the freshly introduced issues of its two-, three-, and five-year British Savings Bonds are a reflection of "the changing savings market".After the Bank of England base rate saw a decrease of […]