Midterm Elections and Your Money

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Hi, everyone! It’s time to vote in the 2022 midterm elections (if you didn’t already vote early). 

I’m heading to the polls today in my hometown of Fayetteville, North Carolina, to pick a new senator, representatives to the U.S. House, and lawmakers to serve in the General Assembly. 

I’m exercising my right to vote to have a say in who decides the future policies of my state and to remind myself that my voice really does matter. As the daughter of Brazilian immigrants who didn’t have citizenship for most of their life, I never want to take these things for granted. 

Especially at a time when the stakes are high. We’re facing economic challengesthe impact of inflationthe effects of the war in Ukraine, and other critical policy questions that will be influenced by Congress. 

(This article was originally published in NextWeekly, my weekly newsletter packed with news, trends, and ideas on money. Sign up for it using the box below.)

Voters across the U.S. will be prompted to tick either “yes or no” to several important questions on their ballots. There are 132 state-wide ballot measures across 26 states and Washington D.C. that touch on a wide range of topics, from abortion, Medicaid, and medical debt to early childhood education, minimum wage, and more. 

These questions can directly affect your community and even your personal finances, so it’s important to do your research before casting your vote. 

For example, voters in Nebraska will be asked to decide whether or not to raise the state’s minimum wage from $9 to $15 by January 2026. In New Mexico, voters will weigh in on whether to make preschool a universal right. A ballot initiative in Arizona could ease medical debt if voters say yes to capping interest rates at 3% and limiting debt collectors’ ability to seize a person’s belongings. 

Your state board of election site is a great resource if you’re unsure what measures or candidates will be on your ballot. These are some other helpful resources as well: 

Still on the fence about casting your ballot? This statement by the late John Lewis, former Georgia Congressman and civil rights leader, seems particularly relevant: 

The vote is precious. It is the most powerful non-violent tool we have in a democratic society, and we must use it.

You can read more about this year’s key ballot initiatives with our friends over at CNET. (CNET, like NextAdvisor, is owned by Red Ventures). 

Midterm Elections 2022: Ballot Questions to Track on Election Day

The Bottom Line

Voting is a way to shape the policies and governance in your community, which can influence your money and many other aspects of your life.

Correction: The version of this newsletter that was sent out via email incorrectly stated the North Carolina gubernatorial election would take place on Nov. 8. North Carolina will elect its next governor in 2024.