A report from Market Watch recently detailed the fact that nearly half of Americans don’t have enough cash savings to cover a $400 emergency.
San Francisco plans to rectify this problem and get people to save by . . . paying them?
Yes. San Francisco is currently recruiting around 1,000 people to join a campaign called “Saverlife”, which will give citizens $60 if that citizen saves $20 a month for six months. A participant will link their bank account to Saverlife, which monitors the account’s activity and at the end of the six months you reap your reward.
The only way for liberals to get other liberals to save their money, apparently, is putting a price tag on responsibility. Cute.
The goal is to get the “poorest households to create a modest financial cushion”, according to the CEO of EARN, a nonprofit “micro savings” group partnering with Saverlife.
San Francisco is one of the most expensive cities in the country — it takes $110,357 a year to live “comfortably” there, a recent analysis found. Mirroring a nationwide trend, about 47% of San Francisco families are financially insecure, meaning they don’t have at least $2,000 in savings, a recent study by the Washington D.C.-based think tank The Urban Institute found.
But San Francisco is currently a hotbed of degeneracy and counter-productivity, so it is extremely difficult to expect success from a major subsection of California that is seemingly dedicated to hyper-liberal, near-Socialist political and economic beliefs.