Nearly two-thirds of Americans have already received the government’s second round of stimulus checks as part of the latest $900 billion Covid relief bill.
The payments up to $600 per individual or $1,200 per married couple and an additional $600 per child under 17 help cash-strapped Americans get by during these uncertain times. But the money is also helping people meet other financial goals.
According to a New York Federal Reservepoll, a majority plan to use this second windfall of cash to pay down debt or save. If you can meet your basic needs, using the money to lower debt or build a savings is a smart financial move but it can be hard to decide which one to choose.
Here’s how to know if you should put your stimulus money into…
Read the full article at: https://www.cnbc.com/select/pay-down-debt-or-build-emergency-fund-with-stimulus-check/