New Jersey: $250 stimulus check to be sent within 24 hours.

New Jersey Residents to Receive Next Payment from Guaranteed Income Program

Exciting news for New Jersey residents! Tomorrow, July 1, marks the date for the next payment from the Newark Movement for Economic Equity program. This guaranteed income program aims to provide financial support to those in need, and the upcoming payment is worth $250.

Out of the 400 recipients enrolled in the program, 200 lucky individuals will be receiving this payment. The program has been a lifeline for many, helping them avoid eviction, recover from COVID-related hardships, and stabilize their families during times of economic turmoil.

Twice a Month or Twice a Year

According to the Newark mayor’s press secretary, half of the recipients receive smaller payments twice a month, while the other half receive larger payments once every six months. This ensures that the funds are distributed in a way that best suits the recipients’ needs.

For those receiving smaller payments, the scheduled dates are the first and 15th of each month. On the other hand, individuals receiving larger payments can expect their disbursements in May and October.

How Recipients Utilize the Funds

It’s fascinating to see how the recipients utilize the funds they receive. According to Kevin Callaghan, the Newark philanthropic liaison, around 41% of participants spend their payments at retail stores, purchasing clothing, food, and other necessities. Another 26% choose to spend their funds at grocery stores.

Furthermore, 10% of recipients allocate their funds towards housing and utilities, while 9% use the money for transportation and car expenses. These payments have made a significant impact on the lives of many, providing them with the means to meet their basic needs.

Program Details and Future Research

The program, which began in October 2021, is set to conclude in October 2023. All recipients were randomly selected and had to meet certain eligibility criteria, including being at least 18 years old and having an income that fell 200% below the federal poverty income threshold.

Formal results and findings from the program will be released by the Center for Guaranteed Income Research at the University of Pennsylvania in 2024. Participants are required to complete detailed surveys twice a year, assessing various aspects of their lives such as physical health, mental health, financial security, and housing stability.

If you want to learn more about this program and its impact, you can visit the program’s website for additional information.

Source: The Washington Examiner

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