WHY $1755 CHECKS HIT FAMILIES BANK ACCOUNTS! UNEXPECTED TARGET MARGINS, SSI, SOCIAL SECURITY, EBT

well guys we have some good news two checks I want to talk to you guys about today Social Security totaling 1755 that's right just a little bit under eighteen hundred dollars we got a lot to talk about mark your calendars guys the first of two checks for Social Security that is amounting to one thousand seven hundred fifty five dollars total is due to arrive in about seven days and just in time as Americans are seeing inflation hit their cash flow with an additional 433 dollars a month in household opening yep you guys guessed it the poor keeps struggling while the rich billionaires and entrepreneurs and investors just keep spending this holiday season but hey all hope is not yet lost now a lot of states are still flush with residual income and budget surpluses so they're sending major inflation checks to their residents all the way into next year are you still crossing your fingers for a holiday check from your state government let me know what you guys are thinking and let me know what you're feeling in the comments down below also if you own a home let's be smart guys get your free home warranty quote the link is in the description down below me and my family did it thousands of you guys have already done it make sure you guys are not caught off guard by another very expensive unexpected home repair again get your free home warranty quote I'll leave a link for you guys in the description or maybe even a pain comment down below now Black Friday has come and gone yay now we can start saving money again right well something felt very different about it I'm gonna be honest with you something fell off I don't think it really felt like Christmas it's kind of like you know I was there I saw some decent deals but there there was this like looming sense of dread the whole time with inflation just continuously with prices being ever so high and it's even like to me it's kind of like it's not really a deal when the thing is already overpriced and then they knock down like 10 15 20 30 off it's like yeah but it's still too much anyway maybe I'm just cheat even the major news channels are saying the exact same thing inflation was weighing on shoppers even when they were checking out Black Friday deals here check this out turning now to the official start of the holiday shopping season with an estimated 115 million of you expected to hit the stores today both in person and online in search of course of those Black Friday deals cbs's Elise Preston reports on how inflation could impact the bottom line tis the season to shop this holiday weekend a record amount of money will be spent but many Shoppers are being picky and looking for bargains I usually do like a lot of shopping for family members but we kind of had to talk like you know it's been pretty expensive so not the same expectations from last year but still trying to find like good stuff how is the economy impacted your Black Friday shopping this year um it's cut it back a little bit I don't think we'll feel it but mentally I know it's there the national retail Federation predicts more than 166 million people will make purchases this weekend the economy and inflation are top of mind says Catherine Cullen of the national retail Federation we do know that many Shoppers you know still say it's important to me to spend and celebrate on holiday and holiday celebrations that said we're seeing a lot of consumers say I need to make every dollar count consumers particularly at the lower and middle income segments are feeling squeezed the national retail Federation predicts that holiday sales will grow between six and eight percent this year in November and December Shoppers will spend between 942 and 960 billion dollars this holiday weekend consumers are racking up more credit card debt credit card balances Rose more than 15 percent since last year the largest jump in more than 20 years I had to put stuff on credit cards I had to pay for one of my like college classes on a credit card too but it seems gone are the days where people crowded into stores for Black Friday deals actually when we pulled up we were thinking what's going on like where is everybody now here at this Best Buy in New Jersey customers have been coming in all day and holiday hours are extended through the weekend the company says even before the holiday shopping season began online sales were nearly double what they were pre-pandemic jerika very telling Elise Preston for us tonight thank you let me know if this happens to you guys like whenever I pay anything off I always check the receipt and my balance is hovering close to zero most of the time sometimes it even hits zero altogether is it the same for you guys now I wish my credit card bills would two hit zero I wish for all of my viewers that their credit cards too would hit zero as well and you guys can be completely debt free y'all know what I'm saying comment down below if you're debt free and comment down below if you're not yet debt free but you wish that you were because if you do want to become debt free we need to talk now a little bit of good news for Social Security recipients now you guys are set to receive the first of your two December payments in just one week eligible recipients will receive their first payment of 840 21 on December 1st and their second payment of 914 on December the 30th equaling a total of 1 755 for the month now the second installment of December's payments is a little bit higher than the first due to payments increasing in 2023. yay you know we're finally starting to see some of the Social Security increases for 2023 hitting bank accounts now their own little way of supposedly helping out with inflation is this Cola increase not that it's necessarily keeping up with the additional 400 a month plus that you know more of us are paying due to inflation more on that later but the question is why two payments right well I think most of you guys know already that December is one of the three months of the year in which people receive two supplemental social security income payments or SSI payments now the other months with two installments this year were April and September the double payments offset the months in which no payment is sent out to ensure eligible recipients receive 12 payments per year according to the schedule for Social Security now these months include January May and October eligible couples will receive two payments of one thousand two hundred sixty one dollars for the month of December which that amount increasing to 1 371 dollars going into 2023. NOW essential persons meaning uh somebody who lives with a person receiving supplemental security income and provides necessary care will receive one payment of 421 and a second payment of 458 dollars to be paid out on the same days but question is is it really keeping up right now according to the latest residual income number crunching from Moody's Analytics the average American household is spending 433 dollars more per month just to buy the exact same goods and services that they did a year ago you guys feel that and they say inflation's supposed to be slowing down already really it's the wages that we should be focusing on frankly wages for many workers they just really and simply have not kept up and kept pace with inflation meaning that more Americans have been losing purchasing power Big Time hourly earnings fell 2.8 percent on average in the year to October after accounting for inflation experts recommended making small changes all those little decisions that add up at the end of the month y'all know what I'm talking about fixed expenses versus discretionary spending all right so fixed expenses are for Essentials like your mortgage your your rent you've got food Transportation costs even Insurance discretionary costs that's like dining out going out to dinner taking vacations splurging on the newest Louis Vuitton bag buying the latest pair of Jays things you don't really need see exactly what you can hold off for now you can also do some substitutions if the cash flow can bear it traveling somewhere closer to home instead of a more expensive luxury vacation further away or staying at a cheaper Hotel these are just some examples of doing the extras but kind of cutting back a little bit or perhaps getting a haircut getting a haircut maybe every eight to ten weeks instead of every six but then some people get a haircut every week and I know some people haven't been on vacation for a long time so maybe that doesn't apply to everyone oh and let's not forget about those monthly subscriptions take a long hard look at each one of those monthly subscriptions don't forget about streaming services all of these are hitting your credit card I know when an American Express card bill comes in in the mail a lot of people just kind of look at it maybe even don't even want to open it because you're afraid of what it might say right go through your credit card bill Visa Mastercard whatever it happens to be and make sure that all the charges on there are legitimate I've been watching a lot of scammers trying to get over on people because a lot of people don't even bother looking at their credit card statement they make the minimum payments and don't even look at the charges that have hit their accounts so do not get screwed do not fall for that trick you would be very surprised exactly how little you use some of these subscriptions every single month but you would be really surprised at how much money they suck from your bank account every single month now as for fixed expenses consider stocking up on Staples shopping with a food list comparing stores to find the best deals and switching up what you're eating now just some examples for you guys to consider if you come mute to work and spend a lot of money on gasoline download those apps like GasBuddy and whatnot they track where the cheapest gas prices are now if you guys need some help on that finding the best apps that give you the cheapest gas near you hit me up in the comments down below maybe I can share some references and some of the best apps for saving money to find the cheapest gas in your area you can also sign up for loyalty programs if it makes sense for you I also have this one credit card that gives me the best deals on gas wherever I buy gas so let me know if you guys want to know what credit card that I'm using that gives me the lowest interest and the best cash back benefits and bonuses let me know if you want to know what credit card that is that I'm using now while low and middle income Americans scrunch and save the rich entrepreneurs and stock market investors they just say they're sweet old time and spend their money as usual I guess when you're making as much passive income as they are you're not as affected by the local economy that the average American is but just take a look at these two stories right here the langman hotel in Boston sold out their 135 dollar per adult Thanksgiving brunch at its in-house restaurant weeks before the actual date now right across town in Dorchester demand has been booming for a different kind of food service Catholic Charities is seeing so many families at its free food pantry that they had to close early some days until some patrons to come back first thing in the morning some families went to bed home some families went home hungry that day on the cold Saturday morning before Thanksgiving patrons waiting for free turkeys they began to line the street at 4 30 a.m more than four hours before the pantry opened America's economy has definitely gone topsy-turvy three years into this pandemic the rich are still flush with cash and enjoying their Financial Freedom I guess their upfront sacrifice was worth it but what about the Americans who are still struggling today the wealthy continue to buy their Marc Jacobs and Ralph Lauren bags wives and maybe even their Mistresses Macy Louis Vuitton and Birkin bags under the Christmas tree they are still riding first class on American Airlines for the holiday season now at the same time America's poor they're running low on cash buffers forget about passive income and residual income struggling to keep up with Rising prices and facing climbing borrowing costs when you use credit cards with high interest rates or loans just to make ends meet really it's just a little bit insane and very sad what's happening to some Americans right now don't you guys agree now the FED also known as the Federal Reserve Jerome Powell and Company they're hoping to control inflation by raising interest rates Sky High but this solution is hitting low and middle income earners even harder not to mention if things get any worse it's these people the low-income middle class workers who are going to face layoffs and bankruptcy first I mean am I right I mean really after 18 months rapid price inflation poor Americans are depleting their cushions some poor and middle class Americans didn't even have any Financial cushions American families were still sitting on about 1 1.7 trillion dollars in excess Savings in the middle of this year but about 1.35 trillion dollars of it was held by the top half of earners and just about 350 billion dollars in the bottom half how's that for your trickle-down effect right companies that serve more low-income consumers they're already reporting a major pullback in spending have you guys seen Target stock market price recently anyway according to Target's chief executive quote many consumers this year have relied on borrowing or dipping into their savings to manage their weekly budgets but for many customers those options are starting to run out as a result our guests are exhibiting increasing price sensitivity becoming more focused on and responsive to Promotions and a little bit more hesitant to purchase at full price I guess it really depends on what you're buying some people don't even have a choice now a lot of people are having to rely on inflation checks from their state and local governments as many as 20 States depending upon who's counting they're currently offering one-time rebates for expanded tax credits this is up from just a handful last year some states have already distributed the payments that they had but others will be sending checks well into next year yeah 2023 checks are definitely coming now you may want to contact your state agency to see if you still qualify or if you may be eligible for these checks especially if you don't regularly file an income tax return now speaking of income tax returns make sure you guys get your taxes filed so that you can get any check that is due your way now most of the time the state payments are a little bit smaller than the checks that were sent out by the federal government back in 2020 and 2021 but still they can still be a huge help now New Mexico for example they offered up fifteen hundred dollars in rebates and direct relief some residents can file a 2021 state tax return as late as May 31st of next year and still be eligible for a payment now some States including California base payments on a taxpayer's income up to 250 000 for individuals and 500 000 dollars for married couples in 2020 they must have filed a state tax return by October 15 2021 the state's middle class tax refund credit ranges from 200 to a thousand fifty dollars and payments began in October and are continuing to be sent out through January still others like South Carolina they limit their rebates to people who had a tax liability for 2021 meaning people who ended up owing no tax last year will not get a rebate the rebates were worth up to eight hundred dollars some states have to send rebates a Massachusetts Law requires that state revenue over the state's annual tax revenue cap must be returned to taxpayers and a state audit determined that the cap was exceeded taxpayers will receive refunds equal to about 14 percent of their tax bill for 2021. taxpayers who have already filed their 2021 returns should get their refund by mid-December according to the state's website now if you haven't filed yet you can still get a refund if you file by September 15 2023 New York is paying rebates to homeowners through a new one-year program based on factors like income and where they live the state is also sending out checks to families and workers who claim the state's child tax credit or earn income tax credit and the average payment is 270 this was confirmed by the governor's office most eligible New Yorkers should have received them by the end of October New Jersey expanded eligibility for property tax rebates with its anchor tax relief program residents who owned or rented their main home in the state on October 1st 2019 and had 2019 household income up to 250 000 for owners and 150 000 for renters are eligible homeowners will get a thousand dollars or fifteen hundred dollars depending upon their income renters will get 450 residents have until December 30th to apply for the credit payments are expected to be made no later than may now according to the treasury Department rebates are intended as an annual program so rather than a one-time offering they're trying to do this every single year other states offering some type of rebate rates or credits are Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Maine Oregon Pennsylvania Rhode Island and Virginia if you guys have any questions about relief payments in your state you can definitely contact your state tax agency or Revenue Department they typically handle this sort of thing with uh financial assistance as well you can check out the Federation of tax administrators website which offers a long list of agencies with contact information that can help you out some State Relief checks get sent automatically but it really varies with where you live now in many states you don't have to submit an application but you must have filed an income tax return for a specific year to qualify make sure to give this video a like show your support better yet go ahead and hit the share button and share the word spread the word with your friends and your loved ones and let me know if you hear about any other Cash Money programs in your area I don't know about all of them but I do know about a lot of them so if you know of any type of Cash Money program in your area make sure to share it with me I would really appreciate it I'd love to share with our community right here on YouTube I'm pretty sure our Financial Freedom fan would totally appreciate the heads up but anyway more financial excitement in the next one you guys but for now this is our big money update and daily news report Social Security checks coming in seven days inflation costing Americans more than 400 a month the rich entrepreneurs and investors don't really care because they're not really affected by it as much big surprise right and the multiple States sending out inflation relief checks to the residents as always you guys thank you guys so much for watching the video appreciate you guys dropping a like for it and as always be well be safe be healthy and I'll see you guys on the next one