Here s The Smartest Way to Spend Your $1,400 Stimulus Check, If It Passes
On 01/24/21 at 9:00 AM EST
Under President Joe Biden s proposed $1.9 trillion coronavirus relief plan, most Americans would receive a third round of stimulus payments this time a more generous $1,400 per person and perhaps as much as $5,600 for a family of four and $7,000 for a family of five. Given the sizable amounts involved, the challenge, if the measure passes, will be to make sure you use the money in a way that delivers the biggest boost to your family s financial security. The stimulus funds should be viewed as a way to lessen one s financial stress, not as a windfall, says financial planner Nick Hofer, president of Boston Family Advisors.
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Last week, President Biden released a fact sheet summarizing a proposed $1.9 trillion COVID-19 stimulus package, which promises to have a broad reaching impact on U.S. businesses.
TAKEAWAYS
The proposal includes a $15 billion grant program to more than one million of the hardest hit small businesses, reimbursement for employee sick leave, and $35 billion to generate low-interest loans and venture capital to help entrepreneurs.
The proposal allocates $130 billion for schools to spend on a variety of safety and student support applications to assist with school reopening and to support safety measures for in-person learning.
KXLY
January 19, 2021 7:02 PM Alex Crescenti
SPOKANE, Wash. During this pandemic, it’s been tough for families to pay bills. Tuesday morning, SNAP opened their monthly energy appointments at 8 a.m., and within three hours all the spots for the month were filled.
This program helps eligible households ease the financial impact of heating costs between the months of October and June. In October 2020, the Washington Utilities and Transportation Commission ordered electric and natural gas companies in the state to continue a moratorium on disconnections for non-payments until April 2021, but families here in Spokane are still in need of assistance for paying off those bills.
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