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Stimulus checks

What do people do with stimulus checks? Yes, buy stuff — but also pay down debt

by Ali Budner
Jul 3, 2023
A recent study from the Federal Reserve Bank of New York shows that people often use government stimulus money to pay off debt — especially if they have a lot of it.
"Paying down your debt actually increases your future consumption, and that gives you a higher lifetime satisfaction," said the New York Fed's Gizem Koşar.
Marvin Recinos/AFP via Getty Images
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How have pandemic relief programs helped people facing financial insecurity?

by Amanda Peacher
Sep 14, 2021
Early data from Columbia University’s Center on Poverty and Social Policy show child poverty dropped after the first child tax credit payment in July.
Democrats want to keep pandemic relief programs like the child tax credit going.
Getty Images
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Retail sales were flat in April, falling short of estimates

by Marielle Segarra
May 14, 2021
But considering what we're comparing them to — the stimulus-fueled month of March — that's not so bad.
In April, people spent less on things like clothing and furniture and more at bars and restaurants.
Mario Tama/Getty Images
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COVID-19

March retail sales soar 9.8% thanks to relief payments

by Associated Press
Apr 15, 2021
Newly vaccinated and armed with $1,400 stimulus checks, Americans went on a spending spree last month.
Michael M. Santiago/Getty Images
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COVID-19

How recipients will spend COVID relief payments depends on their income

by Mitchell Hartman
Mar 26, 2021
The worst off are likely to use them to fend off economic disaster. The best off may well splurge.
Middle-income households may increase their spending a bit, and pay down debt. But Camilla Yanushevsky at CFRA Research said some of them may hold back, because they’re worried.
LPETTET via Getty Images
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COVID-19

Many will see $1,400 COVID payments hit bank accounts today

by David Brancaccio and Nova Safo
Mar 17, 2021
Tens of millions of taxpayers will get the direct payments Wednesday if the IRS has their direct deposit information.
There was some initial confusion because the IRS said that it began processing payments on Friday. People were online on Monday wondering where their deposits were.
William Thomas Cain/Getty Images
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COVID-19

The COVID relief package is official. When will we see direct payments?

by Nancy Marshall-Genzer
Mar 12, 2021
The White House says relief payments sent by direct deposit could start hitting bank accounts this weekend.
Getting checks out to Americans who are already in the IRS’ system should be quick this time around.
Jeff Fusco/Getty Images
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Who qualifies for the $1,400 checks under the Democrats’ new proposal?

by Janet Nguyen
Mar 4, 2021
Fewer people will qualify for a COVID-19 relief check under a new agreement from Biden and Senate Democrats.
U.S. President Joe Biden delivers remarks on the government's pandemic response on Tuesday.
JIM WATSON/AFP via Getty Images
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I've Always Wondered ...

How $75,000 became the threshold for receiving a stimulus check

by Janet Nguyen
Mar 4, 2021
COVID-19 stimulus checks began to phase out for individuals making more than this amount.
BackyardProduction/Getty Images
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COVID-19

Retail sales jump 5.3%, thanks to $600 stimulus checks

by Associated Press
Feb 17, 2021
The $600 stimulus checks got Americans shopping again.
A person walks by a store displaying a sale sign on Jan. 8, 2021 in New York City.
Angela Weiss/AFP via Getty Images
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