Americans use stimulus checks to pay bills

May 26, 2020

MarketWatch

Thirty percent of Americans who received stimulus checks used the money to pay bills, according to a YouGov study. “It’s alarming to look at how many Americans used these funds to keep a roof over their head and pay for necessities considering the federal government has not provided clarity about another round of stimulus payments being provided in the near future,” the report reads. “Americans are aware of how grim the near future could be, and they took the opportunity to use the stimulus funds to help prepare them for it. By paying off debt, consumers free up some credit so they can turn to it, should they find themselves out of a job in the near future.”

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