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Guaranteed Income and the Financial Well-Being of Black Women: Evidence from the In Her Hands Pilot

Published Article

Georgia

Publication date: September 17, 2026

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This Georgia study examines how guaranteed income affects the financial well-being of low-income Black women in the In Her Hands pilot. Results show reduced reliance on high-cost financial services, greater likelihood of having an emergency fund and higher savings, suggesting unconditional cash can promote short-term financial stability in families.

Subject Tags

  • Equitable conservation
  • Finance and Markets

Abstract

This study examines the impact of guaranteed income (GI) on financial well-being through a U.S. pilot program targeting low-income Black women. Using longitudinal survey data from the In Her Hands (IHH) pilot in Georgia, we examine how GI influences recipients’ credit health, debt, savings behavior, and reliance on high-cost financial services. In the IHH pilot, 654 low-income women from majority-Black communities were randomly assigned to receive 24 monthly GI payments. Results indicate significant reductions in the use of alternative financial services, as well as an increased likelihood of having an emergency fund and higher overall savings. These findings suggest that GI can promote short-term financial stability and reduce reliance on high-cost or risky financial coping strategies, particularly among Black women and low-income families. This study contributes to a growing body of literature on how unconditional cash transfers may advance economic justice in racially marginalized communities.

Citation

Roll, S., Hamilton, L., Zheng, H. et al. Guaranteed Income and the Financial Well-Being of Black Women: Evidence from the In Her Hands Pilot. J Econ Race Policy (2026). https://doi.org/10.1007/s41996-026-00199-5

TNC Authors