Low wages are not an obstacle to a comfortable life in the USA: how immigrants can quickly improve their financial situation

According to research 2019, 53 million Americans aged 18 to 64 (44% of the country's workforce) earn a low wage of $10,22 per hour, or about $18 per year. That is, almost half of US residents earn significantly less than the average ($000). At the same time, they manage to pay rent, pay bills, get an education, buy cars, and sometimes buy houses.

Photo: Shutterstock

Immigrants who mostly work in jobs with low starting salaries - nannies, truck drivers, construction workers, waiters, janitors - often wonder how Americans who earn as little as they do manage to cope with the high costs of living in the United States. .

The first thing that comes to mind is loans. Living on credit has become a staple of financial planning in America. However, loans on favorable terms and at low interest rates are tied to a good credit history, and not only most immigrants, but also many Americans do not have this - it is not so easy to develop a high credit rating with a low salary.

However, there are many other options available to help you meet the bills and expenses of living in the US. For example, through special online banking programs, you can receive a salary ahead of schedule. Those who have lived in the US for a long time are well aware of such applications, but many immigrants who recently moved to America are surprised that this is possible and have never heard of such financial options. There are several such services operating in the States, most of them charge interest and commission for early payment of salaries to clients, and also limit the amount of such advances to a couple of hundred dollars. Wherein online banking service B9 allows you to receive up to 100% of your salary ahead of time and does not take interest and commissions.

Infographic: Oleg Avilov (for ForumDaily)

How it works

When Igor and his family moved to New York after winning a green card, their small savings did not last long. And then one of the most expensive cities in America overwhelmed them with huge bills for housing, food, school and kindergarten. Igor's handyman's salary seemed pretty good from an immigrant point of view ($18 an hour), but in practice, that money disappeared long before the next paycheck arrived. The family thought about a credit card, but without a credit score and history, banks were reluctant to lend or under very unfavorable terms.

When Igor tried to borrow from one of his colleagues, he advised him Bnine (В9), noting that he himself often uses the services of early receipt of salary on this service. Igor’s family did not place much hope in this advice - they were afraid that problems would arise again due to no credit history. But everything was easy and fast.

“They asked for my address in America, asked to see my ID, social security number, and almost immediately opened an account for me and gave me a card. No one even mentioned the credit rating,” said Igor.

After this, the immigrant’s salary began to arrive on the B9 card, and after a couple of months he was given access to early receipt of his salary - at first a small percentage of it, which grew with each new entry into the account of money from Igor’s employer.

“Thanks to B9, unexpected expenses for my sons stopped frightening me and making me nervous (something was spoiled, something was lost, something was forgotten in time - you know how it happens with children), I began to more often approve of my wife’s ideas for home improvement. Now I know that I can get money when I need it. This even has a positive effect on family relationships,” admitted Igor.

He added that registration in V9 - “one of his best decisions in immigration.”

“The service is not free, for B9 I pay $10 per month, $9,99 to be exact. But it’s worth it and certainly pays off, since there are no more commissions, and now there’s also cashback. I can pay for purchases with this card on favorable terms, and also - which is very important for my family - transfer money to my wife’s account completely free of charge, we also made her a card in B9,” Igor shared his experience.

B9 helps you earn from your expenses

Since April, B9 launched a cashback program - you can return up to 4% of the money spent on fast food, as well as in restaurants and gas stations. In this way, the company is trying to help clients cope with rising inflation. The inflation rate is now one of the highest in US history. Prices have increased for very important goods, including gasoline and food, and most of B9’s clients are people with low salaries who are primarily affected by inflation, so the company decided to help them through cashback.

Cashback is available to all customers B9who spend at least $500 a month on gas, fast food, and restaurant meals. Until the 7th day of the next month, such customers will receive a 2% cashback. And early next year, B9 will give them an additional 2% cashback on annual spending in the above categories.

Photo: Shutterstock

The minimum wage is not only the lot of immigrants; almost half - 44% - of US residents live this way. But in the American financial market, this is not a problem, thanks to services such as B9, which are ready to provide you with your salary not by a certain date, but when you need this money.

Moreover, such services will be useful to you even if you have average earnings, because they allow you to cover unforeseen expenses from your salary, and not from credit money, for the use of which you will have to pay interest and commissions.

If you need advice on B9 services in Russian, write to [email protected] — each letter is processed in detail by the multilingual Customer Support team.

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