The Goodnewspaper The Money Edition

When we talk about money, global economies, credit scores, crypto, and wealth inequality, it all boils down to one big idea: How do we value people and their time, energy, and contributions? Sure, there are a lot of big topics to learn about when we think about major wealth and skyrocketing inflation, but at the end of the day, someone is still going to ask: “why don’t we just print more money?” And they’re honestly not far off. Money, wealth, and wages are social systems put in place to, in the best case scenario, add a little structure and organization to our lives, and in the worst case scenario, control and oppress people. Money can cause trauma, can make or break people's well-being, and can even have devastating effects on…

The coronavirus pandemic exposed an obvious — but routinely disregarded — Achilles’ heel affecting younger generations: the lack of financial preparedness. Financial literacy (an understanding of concepts like saving, credit, interest rates, investing, and risk assessment) is generally low among American adults, especially young adults, according to a recent report from the Global Financial Literacy Excellence Center at George Washington University. Advocates are actually seeing this as an opportunity to build an even stronger case for high schools to prioritize the subject for all students — regardless of their income, race, or gender — and states across the U.S. are listening. As of July 2022, 15 states have passed financial education laws with overwhelming bipartisan support. South Carolina, Michigan, and Georgia are among the latest to require high schoolers to…

The federal minimum wage remains $7.25 an hour and has not been increased since 2009, despite a number of efforts to increase that number (most recently, a proposal to increase the federal minimum wage to $15 an hour by 2025, which passed in the House but died in the Senate). However, raising the minimum wage would be a win for workers and the economy. In fact, if the federal minimum wage was increased to just $12, this would give nearly 35 million workers a raise and lift about 4.5 million people out of poverty, according to the Economic Policy Institute (EPI) This equates to approximately one in four Americans (many of whom are in BIPOC and low-income communities) achieving a higher standard of living. Not only would this measure help…

Airbnb co-founder and CEO Brian Chesky recently launched a $100 million program with the Obama Foundation to invest in young people. Chesky, who has signed a pledge to give the majority of his wealth away during his lifetime, partnered with former President Barack Obama in May 2022 to launch the Voyager Scholarship. The scholarship will grant $50,000 to rising juniors to cover tuition costs for over two years, as well as a $10,000 grant and Airbnb credit to fund a summer experience for the student. Additionally, scholarship recipients will get a $2,000 annual Airbnb credit for 10 years after graduation. Scholarship applicants must demonstrate a commitment to public service, including careers in community organizing, social work, entrepreneurship or the arts. Because travel and schooling often lead to financial limitations, the…

GOOD Learn more about the facts and myths of wage in creases. Visit raisetheminimumwage.com for fact sheets and Q&As to help get the full scope of stagnant wages in America. BETTER Although the goal is a federal policy to end poverty, you can sign a petition to get wage increases on your state ballot and engage with local grassroots movements to improve the standard of living in your own community. BEST Contact your representatives at state and federal levels to ensure they understand how important increased wages are to their constituents. Find your representatives by visiting ggg.news/contact-reps…

WE HAVE GOOD NEWS While most cities finalize their annual budgets with the help of mayors, city managers, and council members, some are giving everyday people a seat at the table through participatory budgeting (PB). A decision-making practice initially developed in Brazil in the 1980s, PB has now reached cities all over the world. Those who have implemented this budgeting system believe that it builds transparency and understanding in the budgeting process and increases civic engagement. In practice, city officials ask the public for their input on where to invest a portion of its municipal budget. Seattle, for example, recently incorporated PB in an effort to divest from policing and reinvest into organizations that address housing, healthcare, and public safety issues — especially within BIPOC neighborhoods. The Black Brilliance Research…