VANCOUVER, British Columbia ā A recent study concluded that cash transfers provided to recently homeless individuals had a direct impact on financial stability and provided relief to the shelter system by empowering individuals.
The organization calculated that, on average, the cash transfer recipients saved the shelter system $8,100 per person over the course of the year for a total savings of $405,000.
Claire Williams, CEO of Foundations for Social Change, said the organization wanted to illustrate the viability of direct cash transfers to impact change.
āOur research shows that cash transfers allowed people to access housing faster, improving stability and lowering the risk of trauma.āJiaying Zhao, the studyās principal investigator and a UBC professor, said that the study was based on people who received direct cash transfers and individuals who did not receive outside support.
āTo receive a direct cash transfer, participants had to meet criteria that showed no misuse or abuse of substances,ā Zhao said.