Here's How Americans Plan to Use Their Stimulus Checks
With COVID-19 destroying the U.S. economy and forcing millions of Americans into unemployment, it's clear that the public needs help -- and that help could come in the form of a stimulus check. Though higher earners won't be eligible for stimulus money, that cash could serve as a lifeline for those whose incomes have already been impacted by the current crisis.
In fact, 40% of Americans say that if they were to receive a stimulus check, they'd use that money to buy groceries, according to GOBankingRates. And while that's a fine use of that money, the reality is that workers shouldn't be relying on a government check to cover food and other basic expenses.
A stimulus check could very well provide short-term relief to Americans who are working fewer hours, or aren't working at all, because of COVID-19. But helpful as that money may be, it really shouldn't take the place of a fully loaded emergency fund.
Source Fool.com
