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Report: 29% of Californians Say Someone in Their Home Has to Cut Back on Food to Save Money

“Only one in three Californians think that the American Dream – including the notion that if you work hard, you’ll get ahead –holds true,” stated the report regarding people’s outlook on the current economic condition.

Published

1 year ago

January 18, 2025

Oakland Post

iStock.

By Bo Tefu, California Black Media

Rising prices and inflation has left more than half of California’s low-income households struggling financially. In 2024, 29% of residents reported that they or someone in their household has cut back on food to save money, according to a December Public Policy Institute of California report. Many Californians, including 40% of lower-income adults, worry daily about the cost of housing.

The financial hardships are widespread, as 23% of Californians have experienced reduced work hours, 22% have struggled to pay rent or mortgages, and 21% have been unable to pay a monthly bill. Many also faced health-related financial difficulties, with 20% postponing medical visits or medication purchases, while others sought assistance through programs like CalFresh or food banks.

These difficulties are most pronounced for lower-income households, particularly those earning under $20,000 annually. Renters are especially vulnerable, with 34 percent reporting difficulty paying for housing, compared to just 12 percent of homeowners. Minority groups, particularly African Americans and Latinos, are more likely to report financial hardships than Asian Americans and whites. Among lower-income Californians, younger, less-educated individuals, and those making under $20,000 a year are most likely to experience these challenges.

Despite national indicators showing steady employment growth and lower inflation, many Californians continue to face low wages, particularly given the state’s high cost of living.

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Chase Oakland Community Center Hosts Alley-Oop Accelerator Building Community and Opportunity for Bay Area Entrepreneurs

Over the past three years, the Alley-Oop Accelerator has helped more than 20 Bay Area businesses grow, connect, and gain meaningful exposure. The program combines hands-on training, mentorship, and community-building to help participants navigate the legal, financial, and marketing challenges of small business ownership.

Published

1 week ago

February 21, 2026

Oakland Post

Bay Area entrepreneurs attend the Alley-Oop Accelerator, a small business incubation program at Chase Oakland Community Center. Photo by Carla Thomas.

By Carla Thomas

The Golden State Warriors and Chase bank hosted the third annual Alley-Oop Accelerator this month, an empowering eight-week program designed to help Bay Area entrepreneurs bring their visions for business to life.

The initiative kicked off on Feb. 12 at Chase’s Oakland Community Center on Broadway Street, welcoming 15 small business owners who joined a growing network of local innovators working to strengthen the region’s entrepreneurial ecosystem.

At its core, the accelerator is designed to create an ecosystem of collaboration, where local entrepreneurs can learn from one another while accessing the resources of a global financial institution.

“This is our third year in a row working with the Golden State Warriors on the Alley-Oop Accelerator,” said Jaime Garcia, executive director of Chase’s Coaching for Impact team for the West Division. “We’ve already had 20-plus businesses graduate from the program, and we have 15 enrolled this year. The biggest thing about the program is really the community that’s built amongst the business owners — plus the exposure they’re able to get through Chase and the Golden State Warriors.”

According to Garcia, several graduates have gone on to receive vendor contracts with the Warriors and have gained broader recognition through collaborations with JPMorgan Chase.

“A lot of what Chase is trying to do,” Garcia added, “is bring businesses together because what they’ve asked for is an ecosystem, a network where they can connect, grow, and thrive organically.”

This year’s Alley-Oop Accelerator reflects that vision through its comprehensive curriculum and emphasis on practical learning. Participants explore the full spectrum of business essentials including financial management, marketing strategy, and legal compliance, while also preparing for real-world experiences such as pop-up market events.

Each entrepreneur benefits from one-on-one mentoring sessions through Chase’s Coaching for Impact program, which provides complimentary, personalized business consulting.

Garcia described the impact this hands-on approach has had on local small business owners. He recalled one candlemaker, who, after participating in the program, was invited to provide candles as gifts at Chase events.

“We were able to help give that business exposure,” he explained. “But then our team also worked with them on how to access capital to buy inventory and manage operations once those orders started coming in. It’s about preparation. When a hiccup happens, are you ready to handle it?”

The Coaching for Impact initiative, which launched in 2020 in just four cities, has since expanded to 46 nationwide.

“Every business is different,” Garcia said. “That’s why personal coaching matters so much. It’s life-changing.”

Participants in the 2026 program will each receive a $2,500 stipend, funding that Garcia said can make an outsized difference. “It’s amazing what some people can do with just $2,500,” he noted. “It sounds small, but it goes a long way when you have a plan for how to use it.”

For Chase and the Warriors, the Alley-Oop Accelerator represents more than an educational initiative, it’s a pathway to empowerment and economic inclusion. The program continues to foster lasting relationships among the entrepreneurs who, as Garcia put it, “build each other up” through shared growth and opportunity.

“Starting a business is never easy, but with the right support, it becomes possible, and even exhilarating,” said Oscar Lopez, the senior business consultant for Chase in Oakland.