Here’s what happens to food stamps and other federal food programs during the government shutdown

ebt snap food stamps

The government shutdown is in its 28th day and there is no end in sight.
The US Department of Agriculture will still send out Supplemental Nutrition Assistance Program (SNAP), also known as food stamps, benefits for January and February despite the shutdown.
The USDA’s Child Nutrition Programs will also be funded into February, but it is unclear what will happen if the shutdown continues after that.
Other food programs such as Commodity Supplemental Food Program and WIC will not receive federal funding during the shutdown, but may continue using state and local funds.

With no sign of ending anytime soon, the government shutdown is starting to take its toll on federal services and workers. But for recipients of Supplemental Nutrition Assistance Program (SNAP) benefits, also known as food stamps, there is some good news — for now.

According to a plan released by the US Department of Agriculture (USDA), SNAP benefits will be available during the start of the shutdown as previously appropriated funding is carried over to meet the needs of the program.

In the initial USDA release about the shutdown, the department said SNAP benefits for January would be available but there was no commitment for February. In a later announcement, the USDA said that the department will send money for February’s benefits to states that administer the program.

Benefits for the month of February are being sent out this week, well ahead of the typical timing. Usually the funds would go out on or after February 1, but in order to ensure that the money is available the USDA told state agencies that administer the program that benefits had to be sent out by January 20.

USDA officials could not commit to providing SNAP benefits in March and it appears unlikely that the funds will be there if the shutdown were to …read more

Source:: Business Insider

I use the free version of Personal Capital, a financial planning website, every month — here’s why I can’t stop

Personal Capital free version review

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Personal Capital is a robo-advisor with a paid component and a free version.
The free version of Personal Capital can help you figure out how much you’re paying in fees and determine whether you’re on track to reach your retirement goals.
Personal Capital’s net worth tracker makes it easy to track the ultimate measure of your wealth — your net worth.

When it comes to personal finance, I mostly stick to old school wealth-building and expense-tracking strategies. I budget using a pen and paper every month, I invest most of our money into inexpensive index funds with Vanguard, and I rarely rely on technology or apps to manage my spending or investments.

The one big exception I make is with Personal Capital — one of the three most popular robo-advisors (along with Betterment and Wealthfront). While I don’t pay Personal Capital to manage my investments for me, I do love the free version they offer to anyone who signs up and creates an account.

Here’s why I take advantage of this Personal Capital’s free resources and tools:

Personal Capital makes it easy to track your net worth

Net worth is one of the most important measures of any person’s wealth. This figure, which is determined by taking your assets and subtracting your liabilities, helps you monitor your growing wealth as your assets increase and your liabilities and debts increase. It’s not enough to simply monitor your investments if you’re not also tracking your liabilities, and your net worth takes both into account.

You can track your net worth easily with Personal Capital once you take time to input all your loan, banking, and investment account …read more

Source:: Business Insider

We tried to buy people’s lottery tickets for more than they paid — it shows why we overvalue something simply because we own it

We tried to buy people’s lottery tickets for much more than they paid.
Why Are We All So Stupid?” explores the cognitive biases that lead us to make irrational decisions.
This episode focuses on the endowment effect, which is our tendency to overvalue something simply because we own it.

Watch other episodes of “Why Are We All So Stupid?”:

Overconfidence Bias: Asking Couples About Their Relationships

Anchoring Effect: Guessing How Many Jelly Beans Are In A Jar

Pricing Effect: Why A Higher Price Tag Makes Wine Taste Better

Availability Bias: Discussing Who’s Most Likely To Cheat On Their Spouse

EDITOR’S NOTE: This video was originally published on December 14, 2018.

Join the conversation about this story »

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Source:: Business Insider

10 wild revelations about the epic Fyre Festival failure uncovered in Netflix’s new documentary

Fyre Festival documentary Netflix

“FYRE: The Greatest Party That Never Happened” is now available on Netflix.
The revelations include footage of Fyre Festival co-founder Billy McFarland telling supermodels “we’re selling a pipe dream to your average loser” to Kendall Jenner reportedly getting $250,000 for a single Instagram post about the event.
The documentary also includes the story of how one event manager says he was asked to perform oral sex on a customs officer in order to “save the festival.”

Netflix’s new documentary about the disastrous 2017 Fyre Festival, “FYRE: The Greatest Party That Never Happened,” is now streaming. It’s in direct competition with Hulu’s documentary about the festival.

Behind-the-scenes footage in the Netflix documentary and interviews with the event’s team give an in-depth look at how organizer Billy McFarland, then 26 years old, went from promoting the hyper-exclusive island music festival to being charged with wire fraud and sentenced to six years in federal prison.

Keep reading for a look at 10 wild revelations (among many) unveiled by Netflix’s new documentary.

The Fyre team was partying so much that Billy McFarland fell asleep on the beach with a beer in his hand, according to the documentary.

The documentary shows a lot of B-roll footage from the days McFarland, Ja Rule, and all the major supermodels spent filming the now infamous promo video for Fyre Festival. Brett Kincaid, a director at Matte Projects, was hired by Fyre Media to do all the marketing and advertising for the event.

“The Fyre guys were partying non-stop — sunup to sundown, getting loose,” Kincaid said. “Billy fell asleep on the beach, literally just broad daylight. Out like a light.”

Kincaid says the Matte team knew there was “a place” and they knew “there was an idea of having a music festival” but that …read more

Source:: Business Insider