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More than one-third of Colorado households endure financial hardship, report shows
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gazette.com, State

More than one-third of Colorado households endure financial hardship, report shows

By Debbie Kelley | The Gazette A new report being released Wednesday from United Way Colorado and Ent Credit Union shows 37% of residents statewide and 34% in El Paso County are not earning enough to cover basic expenses such as housing, health care, transportation, food, child care and a rudimentary smartphone plan. Nearly 870,000 households out of about 2.4 million statewide were studied, more than two-thirds of which contain wage earners working in retail, food service, grocery, education, health care, law enforcement, firefighting, lodging, cleaning and other sectors. A national research organization and grassroots movement that United Way of Northern New Jersey started as United for ALICE, which is an acronym for “Asset Limited, Income Constrained, Employed,” develo...
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Social Security payments will be affected soon by a cost of living change
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National, The Street

Social Security payments will be affected soon by a cost of living change

By Caitlin Cahalan | The Street Sixty-eight million Americans receive Social Security Insurance (SSI) payments each month, and most retirees (58%) note that Social Security is a significant source of income in retirement. Therefore, it is crucial that these payments cover basic expenses, especially during times of stubborn inflation. The federal government provides a Cost of Living Adjustment (COLA) to ensure that the purchasing power of Social Security payments isn’t diminished by inflation and the rising cost of living. The past few years of consistent inflation have prompted the Social Security Administration to seriously reevaluate the current COLA. While the COLA is adjusted annually, years of sustained inflation typically prompt higher adjustments. READ THE FULL STORY AT...
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