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Saturday, February 4, 2023

Stimulus Check: Final Day Approaching Soon

The Stimulus Check 2022 is coming to your mailbox soon! This year, the government cut a lot of checks to help you out during this tough time. The amount of money you get depends on your household size, but if you have a family or live with roommates, you’ll probably get more than $1,000. If you’re single or have no kids at home, then maybe just $50 or $100 for groceries might be enough for now.

You’ll receive a separate payment from the government for each person who lived with you as of December 31st, 2021 – so if you have children but no spouse or partner then only one check will be mailed out per household (in this case, yours). If someone was living in your house but not yet 18 years old then he or she will still get his or her own check when they or turn 18 years old; however, if someone was living with another person who was older than 19 years old then both adults would get their own checks when they turn 19 years old (or earlier).

Stimulus Check: Hurry Up!

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Everyone who files a tax return gets a check. How much you get depends on how many people are in your household and how much money you make. You can sign up for direct deposit or use the IRS2Go app to get your check on the same day you file.

How much should I spend?

A common question is whether it’s okay to spend my money or save it in case Congress passes another tax cut before 2020. The answer is simple: Don’t do anything until after you receive your first paycheck with the new law applied! Then see what happens this year before making any changes. If things go well, congratulations—you have extra cash on hand! Use it wisely by paying down debt and building up an emergency fund. If things don’t go so well (such as if there is another recession), then maybe consider putting some of that money toward retirement savings instead of buying more stuff right now!

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