Manchester, NH

Proposal would give New hampshire families hundreds each month

Jake Wells
woman holding moneyPhoto byPhoto by Alexander Grey (Unsplash)onUnsplash

If you're feeling the financial pinch of inflation right now, you'll want to read on. There is a new proposal called the Family Security Act 2.0. Under this program American families would receive between $250-350 per month for each child. In this proposal, children ages five years old and under would receive $350 each month and the money would be sent to the parents. You would receive $250 for each child over the age of five and under 18.

It's important to state that this bill is just in the proposal stage right now and it's not law at this time.

A closer look at the cost of living in New Hampshire

Let's take a look at why this is needed. Let's look at one of the biggest cities in the state: Manchester. Currently in New Hampshire, the average home cost is $440,602, which would mean an average mortgage of $1,935 each month, before property taxes if we assume that there is a 5.4% interest rate (source).

According to Numbeo, the average salary in Manchester is $4,237. Looking at these numbers, it is hard to see how many families are making their finances work right now. An average family spends as much as it brings in. With the increase in costs for food alone, the numbers simply don't add up.

With the Family Security Act 2.0, this stimulus money that comes to families could make a big difference in closing this gap financially. At this time, the Family Security Act is still in the proposal stage, so it will wait upon a vote to see if it becomes law.

What do you think about this new proposal? Feel free to share your thoughts in the comments.

If you found this article informative or helpful, please share it with friends and family on social media. Thanks!

Disclaimer: Please note that this article is created for educational and informational purposes. If you would like to read articles on your phone, please consider downloading the NewsBreak app by using this link right here. I get a small commission for each download at no cost to you.

Comments / 18

Published by

Sharing helpful stories with you about local businesses, income taxes, and much more.

Akron, OH

More from Jake Wells

Comments / 0