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Most Americans Plan to Spend Stimulus Within Three Months

Saturday, Apr 17 2021
Lending
Written by  The Mortgage Leader

More than six in 10 U.S. adults receiving a third coronavirus relief payment worth $1,400 per adult said the money won’t keep them afloat for more than three months, according to a recent survey. So reports Bankrate.

bills 2557263 640Monthly bills are where 45% expect to spend their stimulus checks, while 36% will put the money toward daily necessities and 32% cited outstanding debt.

Greg McBride, Bankrate’s chief financial analyst, was quoted as saying, “Stimulus continues to be a bit of a misnomer, with households predominantly using the money to pay monthly bills and provide day-to-day essentials.”

Read the full article from Bankrate.

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