A new program is working to help one state’s teenagers learn the meaning of financial responsibility.
Some teens and young adults between ages 16 and 24 will be getting $350 per month with the financial literacy program.
The program is in the state of Louisiana and will help 125 New Orleans teenagers and young adults.
Related: Stimulus check: These states are paying people stimulus checks and universal basic income
The first $350 stimulus payment for the young people will go out in December. The payments will happen monthly for 10 months, making in a universal basic income program.
Chicago and Los Angeles are both working on their own UBI programs.
The target demographic is for young adults that do not currently use things like savings or checking accounts.
Related: Stimulus checks pave the way for these cities and states to offer $12,000 in universal basic income, is yours one?
Louisiana has one of the highest populations of people who simply do not utilize banks.
The goal is to help close the racial and wealth gap.
The program is in partnership with Mastercard which will provide a loaded ATM card to the teens and young adults.
On top of the age requirement, unemployed individuals and those who aren’t in school will take priority.
Related: Stimulus check: People demand a fourth stimulus check, meanwhile use these three apps to help you financially
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