By Al Riddick 

Grocery prices have reached alarming levels, making every trip to the store feel like a financial burden. Many families wonder if they should start growing their own food or simply do without. However, before resorting to extreme measures, it is worth exploring a practical and affordable meal plan that allows a family of four to eat for just $400 per month.

Yes, It’s Possible! Here’s How.

In the most challenging financial situations, ensuring that a family remains well-fed requires a simple yet nutritious meal plan. While it may not be luxurious or varied, it provides sustenance and stability. Additionally, it eliminates the stress of deciding what to eat each day.

The Budget Breakdown

Breakfast: Oatmeal ($40.99 for a 50 pound bag)

• A serving is ½ cup per person (2 cups total for the family).
• Cost per day: $0.82
• Total monthly cost: $24.60

Lunch & Dinner: Black Beans, Rice, and Vegetables

Black Beans ($49.99 for a 50 pound bag)

• Each person receives ½ cup per meal (4 cups per day total).
• Cost per day: $1
• Total monthly cost: $30
• Oatmeal and Black Beans prices obtained from a local grocery store in Fairfield, OH.

Rice ($24.99 for a 20 pound bag)

• A serving is ½ cup per person (4 cups per day for the family)
• A 20 lb. bag lasts 10 days, requiring three bags per month.
• Total monthly cost: $74.97

Frozen Organic Mixed Vegetables (Costco) ($9.82 for a 5.5 pound bag)

• To provide enough servings, 21 bags are necessary.
• Total monthly cost: $206.22
• Costco Membership: $65 (a worthwhile investment for other essential items as well.)

Grand Total: $400.79

Why This Works

This meal plan meets several key requirements:

• Affordability: Keeps costs around $400.
• Nutritional Balance: Oatmeal provides fiber and energy; beans offer protein and fiber; rice supplies carbohydrates; and vegetables contribute essential vitamins.
• Minimal Waste: Bulk purchases reduce trips to the store and limit impulse buying.
• Sustainability: While it may not be exciting, the plan ensures sufficient nourishment and financial stability.

Ways to Add Variety Without Breaking the Bank

• Spices & Seasonings: Simple additions like salt, garlic, or hot sauce enhance flavor at little cost.
• Seasonal Fruits: Low-cost, in-season fruits offer a natural source of sweetness.
• Home Baking: With flour, sugar, and yeast, homemade bread provides an inexpensive alternative to store-bought options.

The Takeaway

While eating the same meal every day is far from ideal, having a structured and affordable meal plan ensures that no one in the household goes hungry. When grocery prices seem overwhelming, families always have options. Once financial circumstances improve, meal variety will become an even greater source of appreciation.

By planning wisely, staying nourished, and making the most of available resources, families can navigate difficult times while keeping their finances intact.

Al Riddick is President of Game Time Budgeting, an award-winning financial fitness firm that helps employees develop simple and easy to duplicate systems for making their money behave. 

Feature Image: Photo by Hillshire Farm on Unsplash

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By Nate Paszczykowski, Fifth Third Bank

Fifth Third and community leaders celebrated the groundbreaking for a new full-service banking center in Cincinnati’s Avondale neighborhood, which has been without a standalone bank branch for nearly five years. 

The new branch is expected to open to the public in late summer or early fall and is among 15 banking centers Fifth Third plans to open in low- and moderate-income (LMI) or high minority (HMT) population census tracts this year. The branch will enable Fifth Third to increase financial access for the community while contributing to the revitalization of Avondale. 

Fifth Third prioritizes financial access and neighborhood revitalization through its Neighborhood Program, a community development initiative which creates and implements innovative place-based strategies to effect positive change in historically disinvested neighborhoods across the bank’s 11-state footprint. As Fifth Third strategically expands and opens new financial centers across the U.S., 30% of new branches in development will be in LMI and/or HMT areas. In addition to new centers, Fifth Third offers its Financial Empowerment Mobile, known as the eBus, and Banking to Go kiosks to address gaps in financial services in underserved communities. 

“At Fifth Third, we believe that strong banks need strong communities, and strong communities need strong banks,” said Kala Gibson, chief corporate responsibility officer for Fifth Third. “We are proud to contribute to the revitalization of Avondale by expanding financial access through this new branch, in addition to many other community investments in recent years.” 

Located in the Avondale Town Center, the new branch will be a model for innovation and sustainability, occupying 2,024 square feet in a storefront along Reading Road. The existing full service drive-up ATM in the town center parking lot will remain. Inside, the center’s open design will make it easy for customers to get quick digital service or discuss more complex banking products, like college savings plans, mortgages, or retirement solutions. The branch is expected to open in late summer or early fall 2025, with Walnut Hills-based Triversity Construction serving as the general contractor. Soul Palette, a local Cincinnati artist, will design and install a mural that celebrates Avondale’s history. 

Avondale, Cincinnati’s largest African American community, has experienced decades of disinvestment leading to population decline, aging housing stock and increased poverty. 

“The Avondale Development Corporation is excited to welcome Fifth Third to our Avondale community,” said Russell Hairston, executive director of the Avondale Development Corporation. “This is more than just a bank opening; it represents a commitment to Avondale’s future. This marks a significant step toward economic empowerment and neighborhood revitalization. By providing accessible financial services, small business support, and homeownership opportunities, Fifth Third is helping to create a more financially inclusive Avondale. We look forward to partnering with them on financial literacy programs, workforce development initiatives, and community investment strategies that will uplift residents and drive sustainable growth, which aligns with ADC’s mission to foster sustainable community development.” 

In partnership with the Avondale Development Corporation and other community partners, Fifth Third has made $33.6 million in direct investments into Avondale and helped catalyze $17.9 million from other entitles for a total financial impact of $51.5 million. 

Key initiatives include: 

• Blair Lofts: The Fifth Third Community Development Corporation invested $15.5 million into Blair Lofts in 2021. The 64-unit affordable housing development located on Reading Road features one-, two-, or three-bedroom apartments, on-site management and amenities that include laundry, resident storage spaces, a community kitchen and a fitness center. Fifth Third also funded wrap-around services such as a move-in care package for residents, financial education workshops, funding so that 55 children could attend a summer camp, furnishing for the community room, and five desktop computers and furnishings for a computer lab. 
• Digital Accessibility: Fifth Third has been working to help close the digital divide and bring Avondale residents into the technology mainstream. Key partners in the effort include the Avondale Development Corporation, Uptown Consortium Inc., and the University of Cincinnati. Following a community-wide assessment of the neighborhood and its needs, in fall 2024 the partners began replacing non-functional and outdated equipment at eight housing complexes and adding service in two locations that were not previously served, thanks to funding from the United Way of Greater Cincinnati. In early 2025, 319 apartments are expected to have free internet connectivity, including 779 residents and 374 school-age students. Six free outdoor hotspots are also being installed along Reading Road. The final phase includes a neighborhood-wide Wi-Fi project that will provide free and/or discounted servicing throughout all of Avondale. 

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By Jay L. Zagorsky, Boston University

In the middle of Super Bowl LIX, President Donald Trump posted on social media that he was getting rid of the penny. Since the lowly penny in 2024 cost about 3.7 cents to make – meaning the government loses money on every coin – the announcement might seem practical at first glance. But does the president have the power to kill off the penny?

I’m a business school professor and a longtime advocate for physical money who has written op-eds supporting the penny in The Wall Street Journal and CNN. My forthcoming book, “The Power of Cash,” explores the many advantages of using old-fashioned currency. Yet inflation has slashed the value of the penny by a third in just the past decade, and even I now admit that its time is up.

But eliminating the penny via a social media post isn’t just legally dubious. It could cause more problems than it solves.

The penny problem

Critics see the penny as a shining example of government waste. Last year, the U.S. Mint lost US$85 million making pennies, according to the bureau’s annual report. It also lost about $18 million minting nickels. Now, to be clear, just because the mint didn’t make money on pennies or nickels doesn’t mean it’s losing money overall. In 2024, the mint earned a profit of about $100 million making the country’s pocket change. Still, $85 million is no small sum.

Meanwhile, public opinion on the penny is split. Some surveys show support for it, but it has plenty of opponents. Many of my students cite carrying around “nuisance coins” like the penny as a reason for switching away from using cash.

The good news, for those who dislike the penny, is that the coin is disappearing on its own. The U.S. Mint has made about 5 billion pennies annually throughout the 2020s — down from about 11 billion each year in the 1990s. So far in 2025, it has only made about a quarter of a million pennies.

But is it legal?

Setting aside people’s feelings toward the penny, the problem with the president’s order, I think, is that only Congress can change the type of coins the mint produces.

To be fair, some defenders of the president’s order believe his actions are legal. But the U.S. Constitution’s Article 1, Section 8 – which gives Congress the power to do important things like levy taxes, pay debts and declare war – also authorizes Congress “to coin money.”

Now the phrase “to coin money” is vague. To fix that, the United States’ second Congress passed the Coinage Act of 1792, which was signed into law by President George Washington. The act, which lays out how the mint operates and what it produces, says it must produce “Cents – each to be of the value of the one hundredth part of a dollar, and to contain eleven penny-weights of copper.”

Congress can modify this act anytime it wants – and it has. The 1792 act also required the mint to produce “Half Cents – each to be of the value of half a cent.” These coins were eliminated in 1857 by an act of Congress. Similarly, before 1965, many U.S. coins were made out of silver. After a 1965 congressional amendment to the act passed, they were made out of a cheaper composite.

And lawmakers have tried several times to eliminate the penny. In 1989, for example, Arizona Rep. Jim Hayes proposed the Price Rounding Act, which called for cash purchases to be rounded to the nearest nickel. It didn’t pass. More recently, in 2017, Republican Senator John McCain introduced the COINS act, which would have eliminated the minting of pennies. The bill also proposed switching the paper one-dollar bill to a metal coin. It, too, didn’t pass.

What happens if pennies go?

Since Congress has failed to eliminate the penny in the past, Trump is trying to do so via a direct order to the Treasury secretary. However, many of Trump’s actions are being challenged in court. For the sake of argument, let’s assume no one challenges the order to kill off production of the penny.

A big problem remains. Even if the U.S. stopped making pennies, they’d remain legal tender and people would still need them as change. In simple terms, the supply would change, but not the demand.

Past efforts to phase out the penny have tried to deal with this problem by requiring rounding, but Trump’s effort doesn’t do this. I think it’s entirely possible that people opposed to Trump would organize national “Demand your penny in change” days in an attempt to embarrass the president.

The U.S. government loses less than $10 million a month minting pennies. In theory, Congress could pass legislation eliminating the penny and requiring rounding within a month or two. The cost to the government for doing things legally is low. If the penny has to go, let Congress do it the right way.

This article is republished from The Conversation, a nonprofit, independent news organization bringing you facts and trustworthy analysis to help you make sense of our complex world. It was written by: Jay L. Zagorsky, Boston University

Read more:

• ‘No cash accepted’ signs are bad news for millions of unbanked Americans
• I tried to pay my taxes in cash – here’s what happened, and why the IRS should make it easier to do so
• In defense of cash: why we should bring back the 0 note and other big bills

Jay L. Zagorsky does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

The post Can the president really kill off the penny – and should he? appeared first on The Cincinnati Herald .

By Michael Davis, Missouri University of Science and Technology

If you live in the Philadelphia or Kansas City metro areas, congratulations: The fact that your city made it to the Super Bowl translates to about $200 extra in your pocket.

That’s right – whether the Philadelphia Eagles or the Kansas City Chiefs win the big game on Feb. 9, both cities have scored an economic victory. Research shows that making the playoffs alone is enough to boost personal incomes in the region. And if your team wins, you and your city will get an even bigger boost.

This windfall isn’t coming from increased merchandise sales, as you might expect. Instead, the key driver is happiness. A successful season lifts fans’ moods, which leads – indirectly – to greater spending and productivity.

Why winning pays

I’m a macroeconomist with an interest in sports economics, and my colleague Christian End of Xavier University is a psychologist who specializes in fan behavior. Together, we published two studies combining our areas of expertise: “A Winning Proposition: The Economic Impact of Successful NFL Franchises” and “Team Success, Productivity and Economic Impact.”

In a study using data from the late 20th century and early 21st century, we found that when a team goes from zero to 11 wins – the typical number needed to make the playoffs – its home region sees an average per-person income rise by about US$200 over the year, adjusted for inflation. We also found that winning the Super Bowl was associated with a $33 bonus, again adjusted for inflation.

When you multiply $200 by the 6 million people who live in the Philadelphia metropolitan area and the 2 million in the Kansas City region, it comes out to a whole lot of money overall.

It’s about happiness, not jerseys

If you’ve ever been to a Super Bowl parade, you might assume that the income boost is linked to people spending more on team-related merchandise. But research shows that professional sports teams usually have a small impact on local incomes.

Even hosting the Super Bowl doesn’t seem to do that much: Our research shows that people are better off economically if their local team wins the Super Bowl than if their local area hosts one.

So if people aren’t spending more directly on the team, something else must be going on. Our work pointed to two possible explanations – both having to do with happiness.

First, we hypothesized that happier people tend to spend more. And when people spend more, that money is returned to the population through wages, so people’s incomes rise. The key here is that people are spending more on everything, not just things associated with the sports teams.

Since the football season usually finishes in December, it could be that happy parents who are fans of the local NFL team are spending more on Christmas gifts for their kids. With the Super Bowl stretching later into the winter, loved ones might get nicer flower bouquets and more chocolate for Valentine’s Day when the local team wins the Super Bowl.

The other possible path is through increased productivity. Psychology research has found that happier people are more productive. So as the season progresses and the home team keeps winning, it stands to reason that people in the area will go into work happy and work harder.

Previous research backs up this idea. For example, a 2011 study found that when the home team in Washington performs better, federal regulators are more productive. In places where private businesses dominate the local economy – which is to say, most of the rest of the U.S. – an increase in productivity would lead companies to be more profitable, which could lead to locals having higher earnings. Even nonfans see benefits when their neighbors are happier, spending more and working harder.

No matter how the Super Bowl turns out, both the Philadelphia and Kansas City metropolitan areas have already won, as both fans and nonfans in each region stand to benefit from higher incomes.

This article is republished from The Conversation, a nonprofit, independent news organization bringing you facts and trustworthy analysis to help you make sense of our complex world. It was written by: Michael Davis, Missouri University of Science and Technology

Read more:

• The Super Bowl’s evolution from football game to entertainment extravaganza
• Ads, food and gambling galore − 5 essential reads for the Super Bowl
• Sports gambling creates a windfall, but raises questions of integrity – here are three lessons from historic sports-betting scandals

Michael Davis does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

Feature Image: People celebrate following the Philadelphia Eagles’ NFC championship win on Jan. 26, 2025. Thomas Hengge/Anadolu via Getty Images

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By Jonathan Forisha

Every landlord has a unique story and reasons for buying and renting out property. But beyond things like providing for their eventual retirement and providing someone a great place to live, the primary reason that any real estate investor rents out their property is to generate rental income.

There are many methods for accepting rent payments, and each one comes with its own pros and cons. Here, TurboTenant breaks down the risks that a rental business may face when it accepts rent with Zelle, Venmo, cash, or checks.

Risks of Zelle

Zelle markets itself as the best method for sending money to friends and family, and tenants may want to use it to send in monthly rent payments. Zelle works directly with banks, so its functionality depends on whether the  bank (or your tenant’s) accepts Zelle.

If it does accept Zelle, each bank will still have limits on daily and monthly payments. These limits may be as low as $1,000 a day and $5,000 per month. If a tenant’s bank does not accept Zelle, then the limits are even more stringent, with a weekly send limit of just $500. According to a recent Apartment List report, the median rent in America is $1379 per month, so Zelle’s payment limits will definitely complicate the ability to collect.

Beyond the limits, Zelle is also risky for rent collection due to the potential for a tenant to accidentally pay the wrong person. Zelle payments are not easily trackable for businesses, and partial payments go through instantly, which could halt a nonpayment eviction from proceeding with just a $1 payment. Zelle is also rife with scams to look out for.

Risks of Venmo

Venmo is the ubiquitous payment app that everyone uses to split pizza with friends, but how does it do as a rent collection service? There are a number of issues with Venmo, and one of the biggest is that Venmo charges a 1.9% business fee for every transaction.

If you charge the median rent of $1379, that amounts to $26 every month coming out of your bottom line. Furthermore, Venmo charges consumers an additional 3% fee to send money using a credit card, which will surely ruffle any tenant’s feathers.

Venmo does make it easy to pull tax forms, but instant transfers cost extra with a maximum fee of $15. Just like Zelle, Venmo also has the risk of a tenant accidentally paying the wrong person, and they don’t block partial payments, which may complicate eviction proceedings. Venmo does not allow any recurring payment option, so tenants will have to put in a new payment every month, which may lead to late payments. Since Venmo is an all-purpose payment app and isn’t tailored for property management, it lacks useful rental features like automatic late fee calculation, which could create more admin work for you.

Another noteworthy downside to Venmo is that it’s impossible to cancel a Venmo payment. Their policies don’t allow a refund to the renter if the tenant pays the wrong amount. In the unlikely event that Venmo chooses to get involved in a payment dispute, they usually side with the buyer, which, in your case, could take more money out of your pocket.

Risks of Cash

You may have read the risks of Venmo and Zelle and thought to yourself that this all feels overly complicated. If the goal is to collect rent, then why not resort to the tried and true method of cold hard cash? Cash doesn’t include any extra fees, banks won’t bat an eye at depositing it immediately, and if your tenant can’t afford rent then it’s extraordinarily obvious since they also can’t deliver the right amount of cash.

On the flip side, cash definitely carries its own risks for rent payments. The most obvious problem is that you have to physically collect cash, which can be time-consuming and complicated, especially if you’re managing out-of-state rentals. Cash is easy to misplace and can be hard to properly document. Say, for instance, that a payment is a few bills short, but the tenant insists they paid in full. How do you prove it?

There are fantastic platforms to streamline your rental management, and if you’ve digitized all the other parts of your rental process (marketing, screening, leases, etc), then why still require cash payments?

Risks of Checks

Checks carry many of the same risks as cash. If it’s easy to misplace a stack of cash, then it’s even easier to lose a single check—or for your tenant to insist they sent the check, but it got “lost in the mail” without any proof. Another important thing to keep in mind is that checks are not used much anymore, and tenants under 40 may not even have a checkbook or be particularly comfortable with writing and delivering a check every month.

Another serious risk to accepting rent via check is that checks can bounce, and it takes a while for you to even know that it bounced. This causes you extra money and time, and especially if you have multiple rental units then this can become a serious headache. Checks can also be canceled by tenants, and there’s no automated way to give tenants a receipt for their payment each month.

This story was produced by TurboTenant and reviewed and distributed by Stacker.

Feature Image: Atstock Productions // Shutterstock

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By Tom Kemeny, University of Toronto

One need only glance at headlines about Jeff Bezos, Elon Musk and other super-wealthy individuals to understand that wealth in America is increasingly concentrated in fewer and fewer hands. Inequality is sharply on the rise.

Until now, however, little has been known about where the richest households are located, which cities are the most unequal and how these trends have evolved.

In a new analysis I conducted with my colleagues, we reveal where wealth is most concentrated within and between communities, cities and states. The result is GEOWEALTH-US – the first data that tracks the geography of wealth in the United States and how it has changed since 1960.

The overall picture is worrying. The wealthiest cities in the U.S. are now almost seven times richer than the poorest regions, a disparity that has almost doubled since 1960. Meanwhile, especially in urban coastal areas, wealth has become highly concentrated in the hands of a few. The picture from the geography of wealth suggests we are even more divided than we thought.

Mapping inequality

To measure wealth locally, we built precise models of household wealth, applying sophisticated machine learning techniques to data from the Federal Reserve’s survey of consumer finances.

We then used the models to estimate wealth among households in the decennial census and American community survey, where we can identify where people live.

Experts define wealth as the difference between the value of a household’s assets – cash, real estate and stocks, for example – and its liabilities, including mortgages, student loans and credit card debt. Wealth is also called “net worth.”

Using GEOWEALTH-US, we show that the wealth distribution across the U.S. has transformed since 1960. Inequality between the nation’s flourishing urban centers and other areas of the country, especially in parts of the South and Midwest, is higher than it has ever been over the previous 60 years.

The expansion of wealth inequality is a challenge to the American Dream: the notion that, with hard work, opportunity and prosperity are accessible to all.

Wealth enables choice and stability. Poorer households have more trouble providing the best nutrition and education for their children. Additionally, people growing up in lower-wealth households are less likely to spur innovation in a field or start successful new businesses. Wealth also profoundly affects one’s health, leaving the least wealthy in our society significantly more vulnerable to premature death and disability.

Large wealth gaps between places

We analyzed average household wealth across the U.S. between 1960 and 2022, using census-defined communities of about 100,000 residents.

At the community level, the lack of wealth can make a major difference in how well cities work for their residents.

People who grow up in wealthier places can reap benefits that span generations. As a result of property taxes and philanthropy, wealthier communities have greater resources for schools, health care, transportation and other infrastructure.

Good schools are one benefit of wealthy communities that may improve social mobility even for children born into poverty, studies suggest.

The map for 2022 reveals major disparities in typical (median) net worth across communities. Many of the least wealthy locations are in poor neighborhoods in some of America’s biggest cities – for instance, parts of the Bronx and East Harlem in New York, and areas of Houston and Milwaukee. A typical household in the five poorest communities had assets worth about $18,000. Many households in these locations held more debt than assets. Other wealth-poor areas of the country included parts of Baton Rouge, Louisiana, and Cincinnati, Ohio.

The wealthiest communities today tend to be found in urban coastal areas.

Palo Alto, California, and Nassau County, New York, are two of the nation’s five wealthiest places. The top five areas had median household net worth of nearly $1.7 million. That’s almost 90 times wealthier than the poorest five places.

These wealth divides help explain why, between 2019 and 2021, according to the school finance indicators database, the Palo Alto Unified School District in California spent about $7,000 more per student than the minimum required to achieve national benchmark test scores. Meanwhile, the East Baton Rouge school district spent almost $4,000 less per student than is required to meet those same national standards. Cincinnati Public Schools underspent by more than $9,000 per pupil.

Large wealth gaps within places

We also looked at wealth divides in cities and communities. Average wealth levels in a community matter, but so does their unequal distribution.

Inequality, especially when a community is racially diverse and spatially segregated, has been linked to underinvestment in public goods such as schools, roads and hospitals.

Our research identified large gaps in wealth within communities.

For example, in certain parts of California such as San Jose and Santa Monica, we found that the richest 10% of residents are about seven times wealthier than the median household. In contrast, in many parts of Utah and Minnesota, the wealthiest 10% of households are only about three times wealthier than the median household.

Coastal areas, then, are not simply wealthier than the rest of the country; wealth in these places is also less equally shared.

We also found that wealth is unequally distributed across many parts of the South. This reflects the legacy of slavery, discrimination and uneven economic development over generations.

Regardless of geography, across America we found that the most unequal places were likely to have larger populations of African Americans, Hispanics and other people of color. In these locations, white households were overrepresented among the wealthiest. Households of color, meanwhile, generally had much lower net worth.

The map of wealth is changing

Extensive testing shows that our model estimates wealth with a high level of accuracy. And by mapping household wealth rather than household income, which is what researchers more commonly use to assess economic well-being, we found that place-based divides are much worse than previously believed.

Our data shows that wealth gaps between places have grown much more than income gaps since 1960. By 2020, gaps in average wealth levels were about 60% higher than equivalent income gaps.

This appears to be driven by the changing economic fortunes of cities.

Average wealth levels in the San Francisco Bay Area, Seattle, New York and Boston have risen dramatically as these areas have cemented their leadership in high-technology sectors and finance.

The loss of manufacturing jobs, meanwhile, destroyed wealth in many American communities. In 1960, the industrial hub of Cleveland, Ohio, had among the highest levels of average household wealth in the country, according to our data. In 2020, Cleveland ranked 466th out of the 722 areas in our study.

Within cities, we also observed a rise in wealth concentration. In the Minneapolis metropolitan area, for instance, the share of total wealth held by the richest 0.1% of households has almost tripled, from about 3% in 1960 to almost 9% by 2020. This means that, compared with the past, just a few families there now own a much larger piece of the pie.

Ladder to success becoming harder to climb

Multiple factors may explain the growing pooling of wealth. They include the rising concentration of high-paying jobs in major metro areas and the explosive growth in housing values in these high-performing cities.

Changing federal tax policies have also favored the affluent at the expense of regular Americans.

If such policies continue under the next Trump administration, the divided geography of wealth may well grow worse – with significant consequences for U.S. democracy.

This article is republished from The Conversation, a nonprofit, independent news organization bringing you facts and trustworthy analysis to help you make sense of our complex world. It was written by: Tom Kemeny, University of Toronto

Read more:

• Racial wealth gaps are yet another thing the US and UK have in common
• Homes in Black and Latino neighborhoods still undervalued 50 years after US banned using race in real estate appraisals
• Racial income and wealth gaps are huge – but the Fed doesn’t have the right tools to fix them

Tom Kemeny does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

Feature Image: New data highlights an increasing wealth divide across the United States. pick-uppath/Getty Images

The post Soaring wealth inequality remade the map of American prosperity appeared first on The Cincinnati Herald .

By Carolyn Albee

Women’s business ownership is a driving force in the American economy, creating millions of jobs and generating trillions in revenue. Beyond impressive numbers, women entrepreneurs bring unique perspectives and solutions to the table, addressing gaps in industries ranging from technology to education to health care.

Yet these entrepreneurs face the same challenges as any other—especially when it comes to finding the money to start and grow a business. Grant funding can be an important resource for achieving your goals, but it’s hard to know where to begin. Luckily, there are small business grants for women that are a great place to start, LegalZoom reports.

How Do Small Business Grants Work?

Grants for small businesses are financial awards that help entrepreneurs launch a new business idea or expand their operations. Each grant program has its own eligibility requirements, which might include factors like the type of business idea, its location, or its contribution to a specific cause or goal. Unlike loans, grants don’t need to be repaid, so they’re a great option for business owners to get a little extra financial assistance without taking on debt.

Types of Small Business Grants

Grant money can come from a variety of sources, including federal agencies, private organizations, and nonprofit groups. Here are the most common sources of grants.

Federal Business Grants

Federal government grants are offered by U.S. government agencies, including the Small Business Administration, or SBA, and other departments focused on innovation, research, and economic development. This grant money is often awarded based on federal government priorities, like developing certain technologies, reducing environmental impact, or creating jobs in certain areas.

State Business Grants

State-level grants are funded by state governments and often focus on creating economic growth within specific regions. These grants might prioritize small businesses in rural areas, minority-owned businesses, or those that promote local job creation. Business owners should research opportunities in their state to find programs that match their business goals.

Private Business Grants

Private business grants are funded by corporations, foundations, or industry organizations and often focus on specific groups, such as supporting women entrepreneurs or minority-owned businesses. Unlike government grants, private grant funding typically has unique application processes and eligibility criteria based on the organization’s priorities.

Research and Development Grants

Research and development, or R&D, grants are designed for technology businesses working on innovative projects. Grant funding can come from private organizations or government and federal agencies. For example, while they’re not grants for women specifically, the Small Business Innovation Research and Small Business Technology Transfer programs provide resources for businesses working toward federal R&D objectives.  

Nonprofit and Community Development Grants

These grants are for businesses and nonprofit organizations that contribute to community improvement or address social challenges, so they often come from local governments or private organizations with a specific mission. Businesses focused on education, housing, or health initiatives often qualify for these grants. For entrepreneurs with a business that is a local empowerment program or has a mission-driven approach, it’s worth looking into these grants.

Industry-Specific Grants

Many local, federal, and private grants target specific industries, such as health care, agriculture, manufacturing, or the arts. These programs are often supported by trade associations or industry groups that want to advance innovation or growth. Exploring grant funding related to a business’s specific field can uncover these opportunities.

10 of the Best Small Business Grants for Women in 2025

There are thousands of grants available for ambitious business owners, so narrowing it down can be helpful. With few exceptions, the grants below are generally available only to women-owned small businesses at the national level, meaning they’re not region-specific. There may be even more small business grants for women in your particular area.

1. Amber Grant Foundation

The Amber Grant Foundation is a nonprofit organization dedicated to the legacy of Amber Wigdahl, a young woman who died before realizing her business dreams. The nonprofit organization gives away three $10,000 grants each month as well as three $25,000 year-end Amber Grants for women-owned small businesses. 

Criteria:

• Applicants must be at least 18 years old.
• Businesses must be at least 50% women-owned.
• Businesses must operate within the U.S. or Canada.

2. HerRise MicroGrant

The HerRise MicroGrant provides $1,000 monthly grants to women-owned small businesses, with a focus on women of color. These small business grants for Black women and other women of color provide quick financial assistance for smaller projects like launching a website, buying new equipment, or creating marketing materials. For women entrepreneurs—and all small business owners—every dollar counts.

Criteria:

• Business must be 51% women-owned.
• Must be currently registered in the U.S.
• Gross revenue must not exceed $1 million.

3. IFundWomen Grants

IFundWomen is a community for women entrepreneurs that connects them with business training and grant opportunities sponsored by corporate partners. Owners of women-owned small businesses simply fill out the Universal Grant Application to be entered into the database. As the organization creates grant partnerships, eligible small businesses are matched with funding opportunities. 

Criteria:

• Must be a women-owned small business to be entered into the database.
• Eligibility depends on the specific grant and its sponsoring partner.

4. Cartier Women’s Initiative Grants

This global grant program offers nine regional grants in addition to a science and technology grant. Judges choose the top three businesses from each of the nine regions, and grant recipients get $100,000 for first place, $60,000 for second place, and $30,000 for third place. The separate Science and Technology Pioneer Award has similar criteria but is specifically for women-owned small businesses that require a long R&D process or high initial investment.

Criteria:

• Businesses must be for-profit and revenue-generating for at least one year.
• Must be in the initial phase of development (less than six years old).
• Applicant must be a woman in a leadership position (e.g., CEO or COO) at the business.

5. BMO Celebrating Women Grant

The BMO Celebrating Women Grant helps women-owned small businesses in the U.S. and Canada that demonstrate clear plans for growth and a commitment to innovation. The most recent funding opportunities provided $10,000 to 15 women-owned businesses. Recipients often use funds to launch new products, invest in marketing, or expand their teams.

Criteria:

• Businesses must be at least 51% owned and operated by women.
• Must be a for-profit business operating in the U.S. or Canada.

6. Tory Burch Foundation Fellowship

The Tory Burch Foundation Fellowship emphasizes community building, financial support, and business training. It offers not only $5,000 education grants, but also access to 0% interest loans, workshops, and networking opportunities. Fifty fellows from women-owned small businesses are selected each year, with applications typically opening in the fall, fellows selected in the spring, and the fellowship beginning in the summer.

Criteria:

• Businesses must be at least 51% owned and controlled by women.
• Businesses must be for-profit, revenue-generating, and less than five years old.
• Applicant must be a U.S. woman who owns the largest or equal stake in the business.

7. Enthuse Foundation Annual Pitch Competition

During the Enthuse Foundation Annual Pitch Competition, which focuses on food, beverage, and consumer packaged goods, or CPG, women entrepreneurs pitch their business ideas in front of industry experts in New York City. The grand prize gets $15,000, the runner-up gets $10,000, and an audience choice winner gets $3,000. It’s a dynamic way for a women-owned small business to gain funding and visibility.

Criteria:

• Women must own at least 51% of the business.
• Businesses must have annual revenue over $10,000 but under $750,000.
• Business must have launched on or after Jan. 1, 2020.
• Must be in the food, beverage, or CPG industry.

8. Women Founders Network Pitch Competition

The Women Founders Network Fast Pitch event promotes women’s business ownership with two tracks: one for tech companies and another for consumer goods businesses. First-place winners in each category receive $25,000, with an additional $5,000 Junior Venture Capitalist Award. Applications typically open in the spring.

Criteria:

• Must have a female founder, co-founder, or CEO, or be majority-owned by women.
• Businesses can be pre-revenue but must have raised less than $750,000 in funding.
• Must be U.S.-based and able to attend the pitch event in person.

9. She’s Connected Grant

The She’s Connected Program, sponsored by AT&T, offers $50,000 grants and additional resources to women entrepreneurs. Participants also gain exposure through the “She’s Connected” web series, which highlights winners and their business stories. Applicants submit essays explaining their business mission and its alignment with AT&T’s values.

Criteria:

• Applicants must be U.S. residents and the sole or majority owner of a women-owned small business.
• Businesses must have no more than 50 full- or part-time employees.

10. Comcast RISE Grant

Although not exclusive to women, Comcast RISE has supported thousands of small businesses since 2020, focusing on those with the greatest need as well as the ability to uplift the local community. The most recent round awarded 500 recipients in five cities with a $5,000 grant, coaching and mentorship, production of a 30-second TV commercial, a media plan, and more.

Criteria:

• Applicant must be actively involved in the business.
• Businesses must employ fewer than 100 people.
• Business must be established for at least three years and revenue-generating for at least one year.
• Must be located in an applicable city, which may change from year to year.

How to Apply for a Small Business Grant

Grants for small businesses can be competitive, and some have complex application processes. Breaking it into smaller steps can make applying for a small business grant more manageable.

Step 1: Create a list of relevant grants

Start by researching grant opportunities that align with your business idea and your goals. Use online databases, government websites, and industry-specific resources to create a list of potential grants. 

Step 2: Double-check eligibility requirements

Carefully review the eligibility criteria for each grant to confirm your business qualifies. Pay attention to details like the required business size, location, or industry focus. If you’re unsure about requirements, reach out to the grant provider for more information.

Step 3: Prepare the required documentation

Most grants for small businesses require documents like a business plan, financial statements, proof of business registration, and sometimes letters of recommendation or essays. Be sure to customize your application to highlight how your business aligns with the grant’s purpose.

Step 4: Tell your business’ story

A compelling application often includes a narrative that explains your business’s mission, goals, and impact. Use this opportunity to share your passion and describe how the grant will help you grow. Be specific about your plans and how the funding will be used.

Step 5: Submit your application

Follow the application instructions carefully and double-check everything before submitting. Missing a document or filling out a section incorrectly could disqualify you. Submit your application well before the deadline to avoid last-minute stress.

Step 6: Follow up if necessary

If you haven’t heard back after the expected timeline, it’s okay to contact the grant provider to check your application’s status. Even if you don’t win the grant, some organizations might give you feedback to help you improve your future applications.

Business Grant vs. Business Loan: How Are They Different?

A small business grant is free funding that doesn’t need to be paid back, while a business loan requires repayment, often with interest. Grants are often awarded for specific purposes and have eligibility criteria that must be met, whereas loans are available to a broader range of businesses and offer flexibility.

Many small business owners leverage multiple funding opportunities, including both grant money and loans. As you work through the process of business formation, an attorney can be a valuable resource to answer your questions and help you determine how to fund your small business.

This story was produced by LegalZoom and reviewed and distributed by Stacker.

Feature Image: M_Agency // Shutterstock

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By D. Brian Blank, Mississippi State University and Brandy Hadley, Appalachian State University

Brian Blank is a finance scholar and Fed watcher who researches how companies navigate downturns and make financial decisions, as well as how markets process information. Brandy Hadley is a finance professor who leads a student-managed investment fund and studies corporate decision-making and incentives. Together, they’re also the resident economic oracles at The Conversation U.S., and their forecast for 2024 held up notably well. Here, they explain what to expect from 2025.

New year, new questions

Heading into 2024, we said the U.S. economy would likely continue growing, in spite of pundits’ forecast that a recession would strike. The past year showcased strong economic growth, moderating inflation, and efficiency gains, leading most economists and the financial press to stop expecting a downturn.

But what economists call “soft landings” – when an economy slows just enough to curb inflation, but not enough to cause a recession – are only soft until they aren’t.

As we turn to 2025, we’re optimistic the economy will keep growing. But that’s not without some caveats. Here are the key questions and risks we’re watching as the U.S. rings in the new year.

The Federal Reserve and interest rates

Some people expected a downturn in 2022 – and again in 2023 and 2024 – due to the Federal Reserve’s hawkish interest-rate decisions. The Fed raised rates rapidly in 2022 and held them high throughout 2023 and much of 2024. But in the last four months of 2024, the Fed slashed rates three times – most recently on Dec. 18.

While the recent rate cuts mark a strategic shift, the pace of future cuts is expected to slow in 2024, as Fed Chair Jerome Powell suggested at the December meeting of the Federal Open Market Committee. Markets have expected this change of pace for some time, but some economists remain concerned about heightened risks of an economic slowdown.

When Fed policymakers set short-term interest rates, they consider whether inflation and unemployment are too high or low, which affects whether they should stimulate the economy or pump the brakes. The interest rate that neither stimulates nor restricts economic activity, often referred to as R* or the neutral rate, is unknown, which makes the Fed’s job challenging.

However, the terminal rate – which is where Fed policymakers expect rates will settle in for the long run – is now at 3%, which is the highest since 2016. This has led futures markets to wonder if a hiking cycle may be coming into focus, while others ask if the era of low rates is over.

Inflation and economic uncertainty

This shift in the Federal Reserve’s approach underscores a key uncertainty for 2025: While some economists are concerned the recent uptick in unemployment may continue, others worry about sticky inflation. The Fed’s challenge will be striking the right balance — continuing to support economic activity while ensuring inflation, currently hovering around 2.4%, doesn’t reignite.

We do anticipate that interest rates will stay elevated amid slowing inflation, which remains above the Fed’s 2% target rate. Still, we’re optimistic this high-rate environment won’t weigh too heavily on consumers and the economy.

While gross domestic product growth for the third quarter was revised up to 3.1% and the fourth quarter is projected to grow similarly quickly, in 2025 it could finally show signs of slowing from its recent pace. However, we expect it to continue to exceed consensus forecasts of 2.2% and longer-run expectations of 2%.

Fiscal policy, tariffs and tax cuts: risks or tailwinds?

While inflation has declined from 9.1% in June 2022 to less than 3%, the Federal Reserve’s 2% target remains elusive.

Amid this backdrop, several new risks loom on the horizon. Key among them are potential tariff increases, which could disrupt trade, push up the prices of goods and even strengthen the U.S. dollar.

The average effective U.S. tariff rate is 2%, but even a fivefold increase to 10% could escalate trade tensions, create economic challenges and complicate inflation forecasts. Consider that, historically, every 1% increase in tariff rates has resulted in a 0.1% higher annual inflation rate, on average.

Still, we hope tariffs serve as more of a negotiating tactic for the incoming administration than an actual policy proposal.

Tariffs are just one of several proposals from the incoming Trump administration that present further uncertainty. Stricter immigration policies could create labor shortages and increase prices, while government spending cuts could weigh down economic growth.

Tax cuts – a likely policy focus – may offset some risk and spur growth, especially if coupled with productivity-enhancing investments. However, tax cuts may also result in a growing budget deficit, which is another risk to the longer-term economic outlook.

Count us as two financial economists hoping only certain inflation measures fall slower than expected, and everyone’s expectations for future inflation remain low. If so, the Federal Reserve should be able to look beyond short-term changes in inflation and focus on metrics that are more useful for predicting long-term inflation.

Consumer behavior and the job market

Labor markets have softened but remain resilient.

Hiring rates are normalizing, while layoffs and unemployment – 4.2%, up from 3.7% at the start of 2024 – remain low despite edging up. The U.S. economy could remain resilient into 2025, with continued growth in real incomes bolstering purchasing power. This income growth has supported consumer sentiment and reduced inequality, since low-income households have seen the greatest benefits.

However, elevated debt balances, given increased consumer spending, suggest some Americans are under financial stress even though income growth has outpaced increases in consumer debt.

While a higher unemployment rate is a concern, this risk to date appears limited, potentially due to labor hoarding – which is when employers are afraid to let go of employees they no longer require due to the difficulty in hiring new workers. Higher unemployment is also an issue the Fed has the tools to address – if it must.

This leaves us cautiously optimistic that resilient consumers will continue to retain jobs, supporting their growing purchasing power.

Equities and financial markets

The outlook for 2025 remains promising, with continued economic growth driven by resilient consumer spending, steadying labor markets, and less restrictive monetary policy.

Yet current price targets for stocks are at historic highs for a post-rally period, which is surprising and may offer reasons for caution. Higher-for-longer interest rates could put pressure on corporate debt levels and rate-sensitive sectors, such as housing and utilities.

Corporate earnings, however, remain strong, buoyed by cost savings and productivity gains. Stock performance may be subdued, but underperforming or discounted stocks could rebound, presenting opportunities for gains in 2025.

Artificial intelligence provides a bright spot, leading to recent outperformance in the tech-heavy NASDAQ and related investments. And onshoring continues to provide growth opportunities for companies reshaping supply chains to meet domestic demand.

To be fair, uncertainty persists, and economists know forecasting is for the weather. That’s why investors should always remain well-diversified.

But with inflation closer to the Fed’s target and wages rising faster than inflation, we’re optimistic that continued economic growth will pave the way for a financially positive year ahead.

Here’s hoping we get even more right about 2025 than we did this past year.

This article is republished from The Conversation, a nonprofit, independent news organization bringing you facts and trustworthy analysis to help you make sense of our complex world. It was written by: D. Brian Blank, Mississippi State University and Brandy Hadley, Appalachian State University

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The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

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By Jay L. Zagorsky, Boston University

The holiday shopping season is now here, and Americans are ready to splurge. The average U.S. shopper expects to spend more than US$1,000 on gifts for Christmas and other winter holidays this year, surveys show.

These days, consumers have no shortage of payment options, each seemingly more enticing than the last. Do you swipe your credit card and pick up “free” miles? Do you use buy-now-pay-later and spread the payments out over time? Do you use a debit card to avoid going into debt?

As a business school professor who writes about the holiday shopping season, I’ve been thinking about the best way to pay for holiday gifts without breaking the bank. My advice, found in my forthcoming book The Power of Cash, is counterintuitive. Don’t use any of these things. Instead, use good old-fashioned paper money.

Yes, using cash instead of paying electronically is a simple way to control your holiday spending while even helping others. And I speak from personal experience.

Why cash is less likely to set you back

Before spending any money, it is important to set a holiday budget. The problem is that while everyone thinks setting a budget is a good idea, few people do it, and even fewer stick to it.

Budgeting is like dieting: Temptation and time pressure cause the best intentions to fail.

I’ve seen this in my own life. One holiday season I carefully set a budget. However, with only hours left before exchanging presents, I didn’t have anything for three nieces. In my desperation, I wildly overspent on gifts I doubt they ever used.

Using cash can help you avoid making the same mistake I did. It works for some simple reasons:

First, committing to just using paper money provides an automatic method of budgeting. When you’re out of cash, you’re done shopping. Now I don’t recommend putting all of your money into your wallet at once. Instead, take only a portion of your budgeted cash when going shopping, or if you are taking all of it, split the money up and keep some in a separate reserve.

Second, using cash helps you spend less because of the “pain of paying.” Spending paper money causes a momentary feeling of regret, research in consumer psychology shows. This in turn helps slow down purchases. People don’t feel the same pain when they use credit cards, because the bill comes due in the future.

Third, in the long run, paying cash for things is cheaper because you don’t have to pay interest on purchases. About half of all credit card users carry a balance each month. With the average balance currently over $6,000, the interest alone on charging gifts can cost you hundreds of dollars.

And one more point: Many people buy holiday gifts for themselves, and research shows that paying cash makes you initially treasure a purchase more than when paying with electronic means. Cash payers feel stronger ownership because they made a “mental investment” in the item.

Using cash while shopping online

It’s easy to use cash for in-person purchases, but you can’t stick paper money through a computer or phone screen to make online purchases. Yet this holiday shopping season, online purchases are expected to break $240 billion.

It is possible to use cash only, even if you’re relying on e-commerce. A simple method is to purchase an online retailers’ gift card using cash and add that gift card to your account’s balance. If you want to spend more, you will need to physically get out to a place selling cards like your local supermarket and spend cash.

This triggers the pain of paying and also takes a bit of time, giving you an opportunity to think about whether this is really the right gift and the right amount to spend on it.

One final point: The holiday season isn’t supposed to be just an exercise in consumerism. Instead, one goal is helping others. Paying for gifts with cash actually does this. There are many people without credit cards, debit cards or mobile payment apps who are excluded from shops that refuse to take cash.

People without electronic methods are primarily poor and elderly. Millions of Americans are cash payers, surveys show, so using cash helps them because it provides a clear signal to businesses that paper money is still wanted and needed.

The holidays are supposed to be fun, but they’re not so enjoyable if you are stressing about money. How do you stick to a budget and ensure you don’t have huge bills to pay after the holidays are over? The answer is simple: Use cash. By itself, cash won’t make the holidays a jolly time, but it removes one big problem.

This article is republished from The Conversation, a nonprofit, independent news organization bringing you facts and trustworthy analysis to help you make sense of our complex world. It was written by: Jay L. Zagorsky, Boston University

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• 4 strategies to keep you from overspending this holiday season
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Jay L. Zagorsky does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

Feature Image: Stay jolly. DmyTo/IStock/Getty Images Plus

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By Stacy M. Brown
NNPA Newswire Senior National Correspondent

As Black Friday approaches, shoppers across the United States prepare for the holiday shopping rush against widespread retail closures. More than 2,000 stores are set to shut their doors by the end of 2024, with 13 major retail chains accounting for a total of 2,055 closures. The shakeup reflects a retail landscape grappling with changing consumer habits, financial pressures, and shifting strategies.

Family Dollar tops the list, closing at least 600 locations this year. The chain’s decision is part of a broader trend among large retailers reassessing their footprints to focus on profitability. While some, like Walmart and TJX (the parent company of T.J. Maxx and Marshalls), are also closing underperforming locations, they plan to open new stores in more lucrative markets.

Pharmacies have also seen significant reductions. CVS is in the final stages of its three-year plan to close 900 stores, citing demographic changes and new shopping patterns. Rite Aid has announced another 77 closures, adding to the 150 stores it shuttered last year as part of its bankruptcy restructuring. Walgreens, meanwhile, has announced plans to close 1,200 stores over the next three years, though those closures won’t begin until 2025.

The restaurant sector has not been spared. Denny’s plans to close 50 locations by the end of this year, targeting lower-volume locations. Another 100 restaurants are set to close in 2025.

Retail Closures Hit Communities Hard

The closures are being felt deeply in communities across the country. In the District of Columbia, Aurora Market, a family-owned and veteran-operated store in the Brookland neighborhood, recently announced its indefinite closure after being targeted by thieves in nearly a dozen incidents. The store served as a vital resource for underserved communities, and its closure reflects the difficulties smaller businesses face amid rising crime and economic pressures.

Larger retail chains have also faced challenges. Foot Locker closed 113 stores this year as part of a strategic overhaul, while Macy’s began a three-year plan to shut 150 stores, starting with 50 in 2024. Financially struggling brands like Express have closed 95 flagship locations and 12 UpWest-branded stores.

Advance Auto Parts, one of the nation’s leading automotive aftermarket retailers, announced it would shutter more than 700 stores as part of a broader plan to improve profitability. Other chains, like LL Flooring, formerly Lumber Liquidators, are going out of business entirely, with the company holding liquidation sales for its remaining 200 stores before shutting down.

The Future of Retail

Experts predict the pace of closures will continue. UBS analysts estimate that as many as 45,000 stores could close across the U.S. over the next five years, driven primarily by the collapse of smaller businesses. Even as retail giants like Costco, Target, and Home Depot expand, many retailers are scaling back due to shifting consumer preferences and financial pressures.

7-Eleven’s parent company, Seven & I Holdings Co., announced it would close 444 North American locations, citing underperformance. Declining tobacco sales, bans on flavored nicotine products, and reductions in SNAP benefits affected the company’s profitability.

For many communities, the loss of retail options goes beyond inconvenience. In urban neighborhoods like D.C.’s Brookland, closures leave gaps in access to essential goods and services while also impacting the sense of connection and identity that local businesses foster.

As shoppers prepare for Black Friday, the closures serve as a reminder of the ongoing transformations within the retail industry. A veteran store owner reflected on the challenges, saying, “Stores like ours aren’t just businesses—they’re part of the community fabric. When they close, it leaves a void that’s hard to fill.”

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