The COVID-19 pandemic has become the major topic of discussion around the globe. It has already resulted in many deaths and the spread is at some alarming rates. Many cities around the world have been shut down with many businesses bartered by the monstrous flu. A substantial portion of the American population can hardly afford rent or even food. Uncertainty creeps most of the sectors, and parents are worried about the fate of their children in terms of their education. The American government understands that the citizens need a helping and, now more than ever. It is for that reason that it has decided to give out stimulus checks to the citizens.
Every citizen is set to benefit from the plan according to reports. The deal is to have every adult get about $1,200 whereas every child will be entitled to a check of about $500.The US government says that the citizens may start receiving the funds in a matter of weeks. The direct deposits started on April 11 according to the IRS reports.
The government says the move is important as part of its plan to cushion Americans through these difficult times. It also sees the move as a remarkable one in line with supporting the economy. It looks at matters from the perspective of pumping extra money into the economy and this time around it chooses to empower consumer spending.
However, citizens need to be careful about the way they go about spending their stimulus checks. The government appeals to all its citizens to make good spending plans. That is the only way to make a huge difference in the lives of the citizens using the funds according to the government.
US citizens continue to face different issues. It will be important that every citizen considers his/her situation before making the rush to spend the money. For instance, a good way to go would be to consider both short and long-term financial goals. Those that have been laid off from their work because of the deadly COVID-19 pandemic can choose to use the funds to make their lives bearable. Those still working could consider either investing or making savings.