Poverty & Prosperity

Home/Poverty & Prosperity

Equal Pay Day for women is not a day to celebrate

We're three months into 2020 -- yet this is how long American women must work into the year to earn the same salary as men did in 2019. Every year, the National Committee on Pay Equity sets a date for "Equal Pay Day" to highlight the overall pay disparity between men and women who work full-time in

American Youth and Young Adults Take Money Management Knowledge Test

The National Financial Educators Council (NFEC) recently asked nearly 7,000 teens and young adults (aged 15-18) across all 50 U.S. states to respond to a test measuring their current personal finance knowledge. This 30-question quiz – the National Financial Literacy Test – was conducted in December 2019 and assessed respondents' capability to earn, save, and grow

Why It’s So Hard to Escape America’s Anti-Poverty Programs

One of the most common debates that has occurred in the United States for the past six decades is the discussion of the poverty rate. As the narrative goes, the US has an unusually high poverty rate compared to equivalent nations in the OECD (Organisation for Economic Co-operation and Development). Although it’s true that the measure of poverty is

It’s not income that determines charitable giving

The American people are no strangers to the spirit of charitable giving. A phenomenal figure from Charity Navigator shows that as many as 50 percent of American households donated money when the 2010 earthquake devastated Haiti. This giving accumulated to $1.4 billion. Another example of American goodness was the $1.6 billion donated to victims of

2020-03-30T16:50:21-05:00Tags: |

Money-saving tips for anyone receiving government relief checks

The coronavirus pandemic has upended the lives and finances of millions of people in America and across the world. A United States federal relief package aiming to provide payments to distressed consumers passed Friday — but that money is not likely to land for a number of weeks. While you’ll have to wait for whatever money you

FinFit Opens Financial Wellness Platform to All Employers During COVID-19 Pandemic

Due to the economic hardships brought on by the coronavirus pandemic, FinFit, a FinTech company that provides over 150,000 employers with a holistic financial wellness benefit platform, announced it is opening the platform free of charge to any employer that wants to offer financial wellness resources for their employees. Virginia Beach, Va.-based FinFit already extended financial wellness resources and

Poverty is the virus that puts us at COVID-19 risk

Throughout American history public crises have exposed issues too long ignored in our common life. World War II, in which African-Americans from the South fought for democracy abroad, exposed the need to make democracy real at home. When the federal levees broke in New Orleans during Hurricane Katrina, the storm revealed a gross inequality that left

Could the coronavirus crisis help tackle income inequality?

The global economy is melting down. There is no sugar coating that. Catastrophic disruptions like the one coronavirus containment measures are visiting on industries, business and workers are already producing tremendous pain. It will likely get worse, along with the already devastating human toll. But profound upheavals like the one we are experiencing now also create unprecedented opportunities

Worried about money? Here are 5 tips to weather the financial storm

Economic uncertainty is at an all-time high, with investors dumping stocks, workers being laid off, and local businesses closing their doors due to the coronavirus crisis. It has left many Americans wondering what they should do with their money right now. Here are some expert tips to weather this financial storm. 1. Look at your emergency

Parental Guidance May Be Just What The Doctor Ordered

Amidst the Coronavirus crisis, a compelling problem will be unmasked by the economic turmoil that will challenge market stability for months or longer. Retirement readiness has not been effectively delivered to the majority of retirement plans. This was a problem before the Covid 19 pandemic, and it has become a crisis. Even before the unprecedented instability and

Why rich people use so much more energy

Here’s a simple and important fact for the fight against climate change: Wealthy people consume more energy and, consequently, are responsible for more greenhouse gas emissions than less wealthy people. And as income and wealth inequality have risen across the world for the past 40 years, the wealthy have consumed more and more relative to their

60% of North Koreans live in absolute poverty—higher than ever thought

The share of people living in absolute poverty in North Korea is higher than once thought, making it one of the poorest countries on Earth, new research from Vienna University of Economics and Business reveals. According to Jesus Crespo Cuaresma, Professor of Macroeconomics, the share of people living in absolute poverty in North Korea in 2018 can

5 tips to keep scammers away during COVID-19 pandemic

Scammers are taking advantage of fears surrounding the Coronavirus. It’s critically important to stay on high alert to reduce your risk from being a victim to scammers. Scammers are taking advantage of the coronavirus outbreak, using fake emails, fake texts, social media posts and fake phone calls asking individuals for money or security numbers to

To end global poverty, invest in peace

Most of the world is experiencing a decrease in extreme poverty, but one group of countries is bucking this trend: Poverty is becoming concentrated in countries marked by conflict and fragility. New World Bank estimates show that on the current trajectory by 2030, up to two-thirds of the extreme poor worldwide will be living in these

Research uses simulation game to alter beliefs about poverty

In advancing research to tackle the problem of burgeoning global economic inequality, researchers at Simon Fraser University used a poverty simulation game called SPENT to foster greater understanding of what causes poverty and economic inequality. In research published in the scientific journal Nature Human Behaviour today, a group of researchers, including former SFU Ph.D. student Dylan Wiwad

As Coronavirus Deepens Inequality, Inequality Worsens Its Spread

As the coronavirus spreads across the globe, it appears to be setting off a devastating feedback loop with another of the gravest forces of our time: economic inequality. In societies where the virus hits, it is deepening the consequences of inequality, pushing many of the burdens onto the losers of today’s polarized economies and labor

You’re not really an adult until you pay for these things yourself

Americans would have gladly swapped out a math class or two in order to receive a better education when it came to their own personal finances, according to new research. A third of millennials would have cut geometry from their school curriculum in favor of personal finance — and other common classes respondents would boot

Think kids won’t suffer from COVID-19? Wrong.

Is coronavirus dangerous for kids? Yes — but not for the reasons you may think. Youth appears to be a protective factor from the coronavirus. Although younger folks can still transmit it to older people, symptoms are milder to nonexistent in young people who contract the disease. But that doesn’t mean the disease isn’t a huge threat to

How Cities’ Big Nonprofits Are Tackling Income Inequality

By some measures, Chicago has one of the country’s largest and most diversified economies with 4 million workers, but the city has struggled to uplift historically segregated and economically depressed communities on its West and South sides. “Our city faces and experiences racial disparities that are among the nation's largest racial disparities on pretty much every