The main conversation in America over the last couple of weeks has been about stimulus checks. Now that the money is showing up in many bank accounts, people are deciding what to do next.
It’s been settled. Americans are expecting a second stimulus payment in the amount of $600. Only half of what was given in the first round.
“Less than the previous amount is definitely a shock, but honestly with everything going on, the job market isn’t doing as great as we hoped. So, I feel like we can take it or leave it at this point. I mean, anything is something.” said Lakyn Hauptman.
Hauptman still has a plan on how she’ll make the funds useful.
“When it gets deposited, honestly, I hope to at least be putting the majority of it to rent.” Hauptman said.
There are other ways to be smart when using the money.
“Taking care of basic needs, paying off urgent bills, would certainly make the most sense. For those who, perhaps, this is only going to serve ,to be able to boost them up a little bit above and beyond where they were sustaining themselves, its always a good idea to help support the local economy and the local businesses.” said Greg Filbeck, Penn State Behrend’s Black School of Business.
Of course, it’s always important to watch out for scams associated with the stimulus money. The most common scam is a phone call from someone posing as the IRS.
“On incoming calls, we always want to be suspect of people asking us for information. They should already have our social security number and account number and know how to get those payments to us.” said Lisa Lopez, Senior VP of Deposit Operations at Marquette Savings Bank.
To learn more about more associated scams and wise to wisely use the money, you can check out the full Digital Exclusive by clicking below.