For the Average American, the Stimulus Check Won’t Cover 1 Month's Rent and Utilities

Given the significant economic upheaval caused by the ongoing COVID-19 crisis, there's a lot of interest in the "stimulus checks" that the Coronavirus Aid, Relief, and Economic Security Act (also known as the CARES Act) authorized. (Note that their proper name is Economic Impact Payments.)

Millions of Americans -- but not everyone -- will be receiving payments of $1,200, which will be very welcome, as many people were living paycheck-to-paycheck even before the pandemic hit, and nearly one in five people earning more than $100,000 are, as well. Unfortunately, that $1,200 isn't going to go very far for the average American.

Image source: Getty Images.

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Source Fool.com