Eligible recipients split on how to spend stimulus checks
Posted April 14, 2020 10:09 p.m. EDT
Updated April 14, 2020 10:27 p.m. EDT
Raleigh, N.C. — Stimulus money is being talked about across social media.
The hashtag #stimulusdeposit took off as a Twitter trending topic.
And Google Trends calculated more than five million searches related to the stimulus checks.
Nicholas and Samantha Parker say the $1200 will come in handy for their large family which includes five children.
"We planned on getting bikes for the family to help take advantage of outdoor spaces," said Nicholas, a Raleigh resident.
"Of course, pay some bills and other things we want to take care of," Samantha added.
Couple Emmett Wilder and Martha Blessett are anxiously waiting for financial relief.
"This is where we've been sleeping," Wilder said, gesturing to his van. "So as of now, this is all I have."
The two have been living out of this van for the past two months after no longer being able to afford rent.
"I would find somewhere to stay and enjoy myself and eat a nice steak," he added with a laugh.
Here’s a breakdown of who’s eligible for the stimulus and how much they’ll receive.
Individuals who earn $75,000 or less will receive $1,200. Married couples making $150,000 or less will receive a payment of $2,400.
Add an additional $500 for each child you have.
Financial advisor Chad Smith of Financial Symmetry recommends using the money to pay off debt before spending elsewhere.
"As long as you have the essentials covered and you know that you have savings that you can withdraw from, then it's fine to spend this money in the way you see fit," he explained.