Live in This City? You May Not Have to Pay Rent

What's Hot

The Most Sinful City in the U.S. Is … (Hint: It’s Not Vegas)Family

How a Mexican Tariff Will Boost the Cost of 6 Common PurchasesFamily

This Free Software Brings Old Laptops Back to LifeMore

How to Protect Yourself From the ‘Can You Hear Me?’ Phone ScamFamily

Report: Walmart to Begin Selling CarsCars

Is Your TV Tracking You? Here’s How to Tell — and Prevent ItAround The House

Trump Scraps FHA Rate Cut — What Does It Mean for You?Borrow

Where to Sell Your Stuff for Top DollarAround The House

11 Staging Tips to Help You Get Top Dollar When Selling Your HomeAround The House

8 Tuition-Free U.S. CollegesCollege

10 Overlooked Expenses That Ruin Your BudgetFamily

4 Car Insurers That Might Raise Rates Even When the Accident Wasn’t Your FaultCars

How to Invest If Trump Kills the ‘Fiduciary Rule’Grow

20 Simple Hacks to Make Your Stuff Last LongerAround The House

12 Surprising Ways to Wreck Your Credit ScoreBorrow

What would happen if someone else paid your rent, no strings attached? How would you spend your time? Some lucky folks are about to find out.

What would happen if someone else paid your rent, no strings attached? How would you spend your time? Some people in Oakland, California, are about to find out.

Y Combinator — known for supporting early stage startup companies financially and otherwise — is hoping to answer such questions via its Basic Income Project.

Earlier this year, the Silicon Valley organization announced that it wanted to “fund a study on basic income — i.e., giving people enough money to live on with no strings attached.”

Y Combinator announced Tuesday that it has completed the step of hiring a researcher, Elizabeth Rhodes, to head up that study.

At Y Combinator, Rhodes will help design a “large, long-term study to answer a few key questions: How people’s happiness, well-being, and financial health are affected by basic income, as well as how people might spend their time.”

Y Combinator explains in a blog post:

In our pilot, the income will be unconditional; we’re going to give it to participants for the duration of the study, no matter what. People will be able to volunteer, work, not work, move to another country — anything. …

Y Combinator adds that participants will be “able to work and earn as much as they want” as part of the project. “We hope a minimum level of economic security will give people the freedom to pursue further education or training, find or create a better job, and plan for the future.”

Y Combinator expects to spend the next few months designing the pilot.

Oakland was chosen because of its proximity to Y Combinator and for its “great social and economic diversity,” which includes “both concentrated wealth and considerable inequality.”

Rhodes tells CNN Money:

“It’s a really exciting opportunity. It’s a new idea; it’s still somewhat obscure.”

How would you spend your time if someone covered your basic income needs? Share your thoughts below or on Facebook.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


Read Next: 5 Ways a Bike Can Make You Wealthier

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,851 more deals!