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(US) Introducing Comingle: An opt-in UBI (Universal Basic Income) to provide a stable weekly income based upon users contributing 7% of their income (comingle.us)

submitted 1 year ago* (last edited 1 year ago) by centof@lemm.ee to c/personalfinance@lemmy.ml

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Comingle is an interesting idea that would act as a pseudo emergency fund to provide a stable week to week income for their users. It could act to stabilize your income if you have an irregular income or as an backup plan or insurance for when you lose a job or income source. It works by distributing the average of all their members contributions weekly to each user. Once the service starts, the end result will be a net gain for those with low income and a payment to provide a guaranteed monthly income for higher earners.

For those with low income, any amount of extra money can aid in the pursuit of opportunity and keep things from turning desperate.
For freelancers and gig-workers, reliable weekly income can ease the complications of sporadic cash-flow.
For those with more income, Comingle lets you help others, sends you a little extra cash on slow weeks, and provides a safety-net if things take a turn for the worse.

Disclaimer: I am not affiliated with them. I just got this in an email newsletter and was intrigued.

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[–] jet@hackertalks.com 17 points 1 year ago* (last edited 1 year ago) (1 children)

Interesting. Tithing 7%, and then getting the average of all the tiths back -3%. Is interesting.

The maximum you can get every year is $16,000. No limit on the maximum you can put in. All deposits into the bank account are tithed. Not sure how they're going to handle people of multiple bank accounts.

If somebody leaves they can't come back for 2 years, unless they pay up like they never left.

[–] centof@lemm.ee -5 points 1 year ago (1 children)

Just to clarify, the 3% is for the business expenses.

[–] odium@programming.dev 6 points 1 year ago

One of the FAQs say that this will decrease if the pool grows larger and 3% becomes too much for operational cost.