Safety Nets
Definition
Safety nets are social programs or policies designed to provide support and assistance to individuals or families facing financial hardships or other challenges.
Analogy
Think of safety nets as cushions that catch you when you fall. They are there to protect you from hitting rock bottom during difficult times.
Related terms
Welfare Programs: Government initiatives that aim to assist low-income individuals or families with financial aid, healthcare, food stamps, etc.
Unemployment Benefits: Financial assistance provided by the government to individuals who have lost their jobs involuntarily.
Social Security: A federal program that provides income support for retired workers, disabled individuals, and surviving family members.
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