Massachusetts residents: We have previously discussed the possibility of adding some extra money in your pocket courtesy of a recent surplus in funds available from Boston and the timing on this is perfect with a capital P! Here are some grim statistics as inflation continues to put a choke hold on those trying to make ends meet:

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Food prices have increased by over 2 percent

Energy prices have gone up a staggering 31 percent

For shelter, people in Massachusetts now have to pay 1.2 percent more than the usual amount

Education and communication prices have increased by over 1 and a half percent.

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The U.S. Bureau of Labor Statistics reports prices of different items in the Bay State have risen nearly 6.5 percent higher than in any other city or county in the United States. One year ago, the rate of inflation was only 3.09 percent but the situation has now changed drastically. If for any reason, you are having money problems and want to get them resolved, you can check your eligibility for the new plan called the Family Security Act 2.0

Unemployment insurance form on a table.

The current unemployment rate in Massachusetts is stable at 3.4 percent. Last month, it was 3.6 percent, and the previous year, it was 5.10 but the mounting financial problems of people have yet to be resolved. To the rescue: A program that gives $3,000 to $4,200 as stimulus payments have gone out in the mail as we speak.

This plan benefits working families especially if you have children and want to send them to top schools in the area. Some of the core advantages include support for those who are expecting a new addition and promotes equal treatment might be provided for stay-at-home moms and dads and working adults.

Who is eligible?

Money stack large amount of us dollars

The eligibility criteria states that a  family must have earned $10,000 the previous year and those with an income is less than $10,000 will be given benefits proportional to their earnings. Also, Massachusetts residents who have an unborn child could receive a monthly payment of $700 and nearly $2800 during pregnancy. This translates into  $4,200 a year if you have a child aged from 0 to 5 years with $350 a month for the youngster's future education plans . Another benefit is for people whose children age from 6 to 17 years. They could get $3,000 in a year, which means $250 every month.

BOTTOM LINE: Once you get this much needed money, put it to good use as something for nothing applies perfectly in this situation.

(Some information obtained in this article courtesy of

LOOK: Here are 25 ways you could start saving money today

These money-saving tips—from finding discounts to simple changes to your daily habits—can come in handy whether you have a specific savings goal, want to stash away cash for retirement, or just want to pinch pennies. It’s never too late to be more financially savvy. Read on to learn more about how you can start saving now. [From: 25 ways you could be saving money today]

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