Turns Out, A Third Of Americans Say Their $1,200 Check Isn’t Even Enough To Pay Bills For A Month

Some Americans are saying that their stimulus checks won’t even make a dent in their bills. Not even for a month.

Many people are living paycheck to paycheck and month-to-month as it is, with virtually NO savings in the bank.

Now they have to contend with no job, and no emergency fund, but the bills keep flowing in each month.

With the stimulus package, each individual who makes less than $75K a year should get $1200, married couples $2400, and $500 for each child under 16 years old.

When you factor in rent — which in some places is outrageous — food, and utilities, that stimulus will be GONE in a month or two. If not, it’ll be gone much, much sooner.

In fact, according to a new Bankrate.com survey of nearly 1,500 adults, roughly one in three Americans (31%) expect that their share of the stimulus money won’t even sustain them for a full month. Yikes!

But, there might be some good news on the horizon.

Lawmakers in Washington, D.C. are working on a “Phase 4” $1 trillion bipartisan stimulus package to pass sometime between late April and mid-May, which House Speaker Nancy Pelosi said will “extend and expand” the CARES Act (also known as the $2 trillion Phase 3 relief bill) to assist small businesses, strengthen unemployment benefits and give families additional direct payments

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There is that weird gap from people age 17 to 24, who are claimed by their parents, who won’t see a stimulus check at all.

Also, anyone who filed Form 1040-NR or Form 1040NR-EZ, Form 1040-PR or Form 1040-SS for 2019, didn’t file a tax return in 2018 or 2019, and those who don’t have a social security number may not be getting a check either — even though they may need it THE MOST.

This is why anything you can donate to a non-profit organization might be helpful. If we all band together to help each other, we just might be able overcome.