How Americans Are Spending Their Stimulus Checks

Marshfield (OnFocus) – According to the U.S. Census Bureau’s experimental Household Pulse Survey, approximately 85.5% of respondents have received an Economic Impact Payment. The majority of adults reported using or planning to use most of their stimulus check on household expenses. 87.6% of adults in households with incomes of $25,000 or less planned to use their stimulus payments to meet expenses.

In households that spent their stimulus check, about 80% of respondents reported using it on food, 77.9% on rent, mortgage and/or utilities, including gas, electricity, cable, internet and cellphone.

More than half (58.2%) of such respondents reported spending stimulus payments on household supplies and personal care products. About a fifth (20.5%) reported spending the money on clothing.

Adults in households with incomes between $75,000 and $99,999 reported using their stimulus payments to pay off debt or to add to savings.

The Census Bureau designed the Household Pulse Survey with input from other federal agency partners to collect and disseminate data in near real-time to provide vital insights into how American households are faring during the COVID-19 pandemic.

For the full report, click here.

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News Desk
Author: News Desk

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