3 ms·

In many places in the US, it is hard to find a place to rent for less than $2000 dollars per month. That seems absurdly low to limit your total assets to. That

by thayne 2y ago

In many places in the US, it is hard to find a place to rent for less than $2000 dollars per month. That seems absurdly low to limit your total assets to. That also seems like a way to trap people in poverty, since saving money for something that might allow you to work, like education, a vehicle, assets to start a business, etc. would mean giving up your income.

NikkiA 2y ago
And I assume renting in the US these days means you'll need a 2xMonth bond in addition to your normal rent in advance, like here, meaning you need savings of 3xMonthly-rent to even consider moving, probably more unless you intend to move using a borrowed shopping trolly.
- Sirizarry 2y ago
  Depends on the place but plenty of properties I’ve seen are one month in advance. Arguably still rough but not the 3x in advance kind of rough
hollerith 2y ago
Not defending the $2000 rule, but there are charities that will give you move in costs if you are on SSI and bring them a lease agreement.
- iteria 2y ago
  Which is an utter failure. The government has set the limit so low that people who take the assistance much rely on the grace of others or become homeless. The limit should be set to the federal poverty level. Having assets that amount to literal poverty wages is not wealth building or cheating the system and would make life possible. Setting it to take would be appalling as well, but at least defendable. I have no idea how anyone even came up with the 2K number. I assume the federal poverty rate on a monthly level, but people should be allowed to have savings.
  - dscottboggs 2y ago
    The asset limit hasn't been updated in 50 years. It would be almost 10k if it kept up with inflation
- xp84 2y ago
  Better be careful though, sounds like lots of help like that counts as 'income' so will screw with your ssi check too.
  - hollerith 2y ago
    No, a charitable donation that does not recur is not considered income. (Ditto financial aid for students.)

by thayne 2y ago

NikkiA 2y ago

And I assume renting in the US these days means you'll need a 2xMonth bond in addition to your normal rent in advance, like here, meaning you need savings of 3xMonthly-rent to even consider moving, probably more unless you intend to move using a borrowed shopping trolly.

Sirizarry 2y ago
Depends on the place but plenty of properties I’ve seen are one month in advance. Arguably still rough but not the 3x in advance kind of rough

hollerith 2y ago

Not defending the $2000 rule, but there are charities that will give you move in costs if you are on SSI and bring them a lease agreement.

iteria 2y ago
Which is an utter failure. The government has set the limit so low that people who take the assistance much rely on the grace of others or become homeless. The limit should be set to the federal poverty level. Having assets that amount to literal poverty wages is not wealth building or cheating the system and would make life possible. Setting it to take would be appalling as well, but at least defendable. I have no idea how anyone even came up with the 2K number. I assume the federal poverty rate on a monthly level, but people should be allowed to have savings.
- dscottboggs 2y ago
  The asset limit hasn't been updated in 50 years. It would be almost 10k if it kept up with inflation
xp84 2y ago
Better be careful though, sounds like lots of help like that counts as 'income' so will screw with your ssi check too.
- hollerith 2y ago
  No, a charitable donation that does not recur is not considered income. (Ditto financial aid for students.)