Stimulus Check have been the source of constant relief for the people of America. The economy is suffering from more than just high unemployment. Inflation, which is the rise of prices and taxes, has become a major problem for many Americans.
According to the Bureau of Labor Statistics’ Consumer Price Index (CPI), inflation rose by 2.4% in September 2019 alone, which means that prices have increased by 7% since last year. The official rate of inflation understates the true increase in prices though because it’s calculated using CPI-U, or “consumer price index for all urban consumers.”
If you haven’t received a stimulus check from the government, chances are that you’re feeling pretty frustrated. But don’t give up hope: there are still ways for you to get your hands on some cash.
You may have heard about stimulus checks already; they’re a way for the government to help people who are struggling financially during this economic crisis. Some people started receiving them in May, while others will receive their checks in August or September. The money can be used however you want—if you run out of gas driving back home from work and need some extra cash, maybe consider using some of it then!
But beyond paying for emergency expenses like these (or even bills), think about what else could make use of your $600-800 bonus? If it’s not going into savings right away or paying down debt immediately after receiving your bonus check from Uncle Sam, try moving it over into an account where saving is easy (like with ING Direct) or put it towards something important like retirement or college savings if possible!
Stimulus Check: Inflation Creating Headaches
A stimulus check is money that the government sends to people in order to help bridge the gap between them and their financial needs. This money can come at any time and is given as a result of something like a tax return or maybe even an accident settlement. You can use your stimulus check for anything that you need, whether it’s paying bills, paying off debt, or saving for the future. The choice is yours!
If you haven’t received your stimulus check yet, don’t worry: The government says that there is still time for people to get them. You can find out more about how much money you are eligible for by visiting the US Treasury website at www.treasurydirect.gov/payments .
