Finance

The Supplemental Nutrition Assistance Program (SNAP), commonly known as Food Stamps, provides crucial financial assistance to millions of low-income households in the United States. With rising inflation, the USDA has announced a cost-of-living adjustment (COLA) for SNAP recipients in October 2024. While the increase may not be substantial, it will offer some extra support to those who rely on these benefits. How SNAP Payments Are Scheduled Unlike Social Security payments, which are based on a recipient's retirement date or birthday, SNAP payments are distributed on different dates depending on the state. Each state has its own schedule for SNAP payments, which typically occur between the 1st and the 28th of the month. It's important for recipients to check their state's specific cal...

New Jersey is easing the financial strain of its high property taxes through the ANCHOR (Affordable New Jersey Communities for Homeowners and Renters) program. Eligible homeowners and renters can receive up to $1,750 in stimulus checks, offering substantial financial relief in a state where the cost of living, particularly housing, is high. What is the ANCHOR Program? The ANCHOR program was created to support both homeowners and renters facing the burden of high property taxes. Homeowners with incomes up to $150,000 can receive a $1,750 check, while those earning between $150,000 and $250,000 are eligible for $1,000. Renters earning up to $150,000 qualify for a $450 check. This tiered system ensures that relief goes to those who need it most, offering support that helps offset hou...

Starting October 4, many states in the U.S. will begin issuing Supplemental Nutrition Assistance Program (SNAP) payments to eligible recipients. While some states initiated payments on October 1, others—such as Alabama, Arkansas, Maryland, Minnesota, and Mississippi—will begin distributing benefits from October 4. These payments provide vital financial support, helping low-income families and individuals purchase food using Electronic Benefit Transfer (EBT) cards. Overview of SNAP Benefits SNAP, formerly known as food stamps, is an essential aid program for millions of Americans. The amount of assistance a recipient receives depends on factors such as household size, income, and local living costs. In 2025, after a recent Cost of Living Adjustment (COLA) increase, the maximum monthly...

New York City has unveiled a new initiative designed to provide additional financial support to residents receiving Supplemental Nutrition Assistance Program (SNAP) benefits. Dubbed the ‘Money in Your Pockets’ initiative, the program aims to raise awareness about the benefits available to low-income households across 20 neighborhoods. By increasing access to resources and promoting healthier food options, the initiative is a significant effort toward alleviating financial stress for New Yorkers. The program includes a major component called ‘Get the Good Stuff,’ which incentivizes healthier eating by offering a dollar-for-dollar match on select food purchases. For every dollar spent using SNAP benefits on eligible fruits, vegetables, and beans, participants receive an equal amount o...

Alaska’s Permanent Fund Dividend (PFD) program is set to distribute its annual stimulus checks to eligible residents in 2024. The PFD aims to share the state’s resource revenue with Alaskans, providing financial relief through the income generated from oil and mineral wealth. However, for 2024, there has been some confusion regarding the exact amount residents will receive, with initial estimates of $3,200 now adjusted to $1,702 for many recipients. Why Did the Amount Change? The stimulus check amount for Alaska residents is tied to state revenues, which are influenced by fluctuating oil prices. In May 2024, it was announced that residents would receive a $3,200 dividend. However, the amount was recently updated to $1,702 on the official PFD website, causing concern and confusion amo...

Starting October 2024, many elderly and disabled residents in Colorado will qualify for a $1,112 stimulus check through the Property Tax Credit (PTC) program. This initiative aims to provide financial relief to seniors and individuals with disabilities, particularly during the colder months when living costs such as heating bills increase. Eligibility Requirements for the $1,112 Stimulus Check Not all seniors in Colorado are automatically eligible for the stimulus check. To qualify, applicants must meet specific criteria: Residency: Applicants must have been Colorado residents for the entire year of 2023. Age: Most applicants must be 65 or older, but surviving spouses aged 58 or older and individuals with disabilities of any age are also eligible. Income Limits: Single fil...

While most Americans have already received their stimulus checks, some individuals, particularly those who do not regularly file tax returns, may still be missing out on their 2021 Economic Impact Payment. The IRS has set a deadline for claiming these unclaimed stimulus checks, offering eligible taxpayers time to file and secure their payment. When Is the Last Day to Claim Your 2021 Stimulus Check? Although the 2020 Recovery Rebate Credit is no longer available, the 2021 credit can still be claimed. The IRS has confirmed that taxpayers have until April 15, 2025, to file a claim for the 2021 stimulus check through the Recovery Rebate Credit. Even if you typically don't file taxes, you are required to submit a 2021 tax return to receive the payment. This announcement is particularly...

Beginning in September 2024, major financial institutions in the United States, including Bank of America, Wells Fargo, JP Morgan Chase, and Citibank, will no longer accept certain $50 bills. This decision follows the Federal Reserve’s initiative to update currency circulation with modern designs and enhanced security features, while phasing out older, less secure notes. Why Are Some $50 Bills Being Phased Out? The Federal Reserve's announcement is part of a broader effort to improve the overall security and reliability of U.S. currency. Specifically, some older $50 bills that are worn out, damaged, or mutilated will no longer be accepted by banks and ATMs. The change is aimed at reducing the risk of counterfeit notes and ensuring that the money in circulation is up-to-date and well-...

Walmart, Sam’s Club, and Costco have launched a refund program for consumers who purchased tuna from the brands StarKist and Lion Capital between June 2011 and December 2016. This refund is the result of a court ruling that found these companies guilty of engaging in illegal price-fixing practices, inflating the cost of tuna products sold during that period. Why Are Refunds Being Offered? The U.S. Department of Justice's Antitrust Division conducted a thorough investigation starting in 2015, which uncovered that both StarKist and Lion Capital had colluded to fix tuna prices at artificially high levels. This illegal activity violated U.S. competition laws, which are designed to protect consumers from unfair market practices. The price-fixing scheme affected millions of consumers acros...

The Supplemental Nutrition Assistance Program (SNAP), formerly known as Food Stamps, is set to provide additional financial relief to approximately 14,000 more residents, thanks to new guidelines. These changes, aimed at addressing growing economic inequalities and rising living costs, are particularly crucial for states like Hawaii, where the cost of living is notably high. Under the updated rules, more families will qualify for SNAP benefits, which provide up to $3,200 annually. The revisions to Broad-Based Categorical Eligibility (BBCE) give states the flexibility to eliminate asset limits and raise income thresholds, allowing even households with savings or slightly higher incomes to qualify. This expansion is a significant step in reducing food insecurity for working-class families...