Most people plan to do this with their $1,400 stimulus checks

[Jacob Siegal]

Over the weekend, the Senate passed a revised version of the $1.9 trillion COVID-19 relief package, sending it back to the House for a final vote before it reaches President Joe Biden's desk to be signed into law. That vote is expected to take place by Wednesday morning, and if the president moves quickly, the first $1,400 stimulus checks could start being deposited into the bank accounts of eligible Americans before the end of next week.

Regardless of when the checks actually arrive, most Americans will probably do the same thing with their money -- leave it alone. Harvard researchers running the Opportunity Insights project (via Yahoo Finance) estimate households with income over $78,000 will only spend 7% of the $1,400 direct payments. Lower-income households will spend up to 21%, while middle-income households will spend between 15% and 23% of the money.

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Most people plan to do this with their $1,400 stimulus checks originally appeared on BGR.com on Tue, 9 Mar 2021 at 11:04:16 EDT. Please see our terms for use of feeds.

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