Living on benefits can make money management harder. We asked 145 people how to manage money better — here's what they shared.
Most of us could use a primer on how to manage money better but for folks who receive benefits as an income source, it becomes imperative.
Here at Enrich Network, our goal is to build technology that helps folks manage benefits and personal finances. We want daily life to feel a little simpler by helping everyone have a clear, complete picture of their financial world. We love learning directly from our users and continually work to create experiences that truly put their needs first. In that spirit, we recently asked 145 people, who receive government benefits, to share their biggest frustrations when managing money.
In this blog post, we'll share our learnings and some thoughts on how we're addressing them or plan to address them in the future. We'd love to work with you so if you have an idea on how to solve a need, we invite you to reach out because we absolutely believe that building together makes for stronger solutions.
Here are the top 5 concerns people told us.
#1 Knowing how to stretch every dollar
Of the respondents we surveyed, 41% said that knowing how to stretch every dollar is one of their biggest frustrations when trying to make the most of their benefits income. With costs rising and unexpected expenses always around the corner, it's no surprise that getting the most from every dollar is top of mind.
Managing benefits adds another layer of complexity. Each program has its own rules, and not every store or service accepts every type of benefit. That makes it hard to know which income source to use for which expense. For example, some funds can be used for prepared food items but 'prepared' may have a broad or limited interpretation. When every dollar has different limits and purposes, it's easy to see why managing it all can feel so confusing and frustrating.
"I would like to know how to make my benefits go farther" — Survey respondent
Money management is already tough — and navigating the rules and restrictions of multiple programs can make it feel even more uncertain. That's why we're focused on creating financial tools that bring everything together in one clear view, helping people feel more confident about every dollar they spend or save.
#2 Knowing which stores/merchants accept benefits
Twenty-five percent of respondent said knowing which stores/merchants accept benefits was a large frustration in managing their benefit income. The good news is there's more than 250,000 U.S. retailers authorized to accept SNAP benefits with local convenience stores making up 44-50% of authorized stores and most major retailers like Walmart, Target, and Kroger accepting benefits.
Even with this wide network, the frustration is real. Not every merchant accepts benefits, and walking into a store without knowing whether you'll be able to use your funds can be stressful. That uncertainty can make everyday shopping feel harder than it should be.
#3 Checking balances
Just as important as knowing which stores accept benefits is being able to quickly check your balance — another top frustration selected by 25% of respondents. Government benefits programs have made progress, with many states now offering online portals or mobile apps for checking balances. Still, if you receive income from multiple sources, it can mean juggling several apps and logins. Simplicity isn't always built into the experience.
That's actually a big reason why the Enrich App exists. Looking at each income source separately makes it hard to see the full picture, not knowing your big picture makes it hard to feel in control of your money, making it harder to get ahead. We don't like this loop. And even as benefits tools improve, they often show just one piece of someone's financial life but most people's income isn't that simple. It's made up of salaries, benefits, one-time payments, interest, and more. We want to get rid of this bad loop by helping people view their benefits balance in the context of their entire financial picture.
#4 Knowing what items are covered
So there's already the uncertainty around which store accept benefits, on top of that, even if people know a store accepts benefit dollars, it does not mean every item inside is covered. This "checkout surprise" adds another layer of frustration, which is why 24.5% of respondents said that knowing what items are covered is one of their biggest challenges.
Keeping to a budget is one of the best ways to feel in control of your finances, but how can anyone stick to a budget when they don't know what will actually qualify until they're standing at the register?
"I used the self-checkout to buy only food items with EBT and after I used the card, it said I still owed $2" — Reddit user
"I buy organic food i would like to know how to eat clean plus stretch my money." — Survey respondent
Many large retailers are working to make this easier by labeling covered items on shelves and flagging them online. This is a great step forward. Still, there's more that can be done. We're exploring ways to create a simple, universal lookup tool that helps people identify covered items at they shop. If that sounds useful, consider joining our lab group for early access and a chance to share your feedback.
#5 Getting a full financial picture across income sources
Rounding up the top five frustrations with managing benefit dollars is getting a full financial picture across all income sources, which 19% of respondents identified as a major challenge. Much like checking balance, it's important to understand how everything comes together — from salaries, to benefits, interest payments and one-time income.
Today those pieces often live in separate systems. Managing multiple logins, spreadsheets and bits of paper can quickly become overwhelming. Seeing all your money — what comes in and what goes out — in one place gives the clearest view of your financial life.
"I would really love to know how to budget not only my food stamps, but my income as soon as the money comes in it goes right back out to pay for bills. You can never get ahead whether you're working or not." — Survey respondent
In summary
By asking 145 people about their needs, we learned that:
- Personal finance and benefits eligibility are completely siloed and need to come together
- Just viewing a balance is not enough, people need guidance on how to stretch every dollar
- Seeing everything in one place isn't just a nice to have, it's a must for better understanding the full financial picture
- People need a clear and simple, real-time tool that assists with purchases
At Enrich, we're passionate about making money management simple, for every income type and every income level. We're excited to take these learnings as we reimagine benefits. And we're excited to invite you to be part of that journey with us. Stay informed on what's coming, share your thoughts and needs along the way:
- As a user, by trying our app and providing feedback or
- A benefits administrator exploring how our Enrich Network can help lower cost at team+benefits@enrichnetwork.io
- A community agency looking to do more with the community at team+community@enrichnetwork.io