The second round of stimulus checks were sent out on December 29, it’s $600 for those who filed their tax returns separately, $1,200 to married couples, and $600 per child under 17.
People will be receiving their money either by direct deposit, a prepaid card or a check.
EG TAX manager Tim Eliason said they’ve been telling their clients that one of the best things you can do with that extra income is to take a good look at your budget.
“It’s there to help the economy but people can just make sure that they look at their budget, spend it wisely, don’t count on the extra $1,400 a person coming in,” Eliason said. “I know everyone is anticipating that.”
For essential workers who have remained employed, perhaps that money could be saved or spent back into the community. For those who have been struggling with employment, he mentions this is a good chance to knock off any debt.
“Take a look at where your debt is, pay it down, maybe make an early car payment, whatever it may be. So anything you can do to pay down debt just as a precautionary would not be a bad thing to do with it,” Eliason said.
Amherst resident Krystin Hoppel received her stimulus funds directly in her bank account Friday.
“I was very excited,” Hoppel said. “I was with my family and I was, like, ‘Oh my gosh it’s in there.’”
Hoppel said she’ll be putting her $600 in an IRA, just like she did with the previous $1,200 she received in the spring.
As people wait for their stimulus money, the Better Business Bureau is reminding people that there are scams out there. If you receive a text or email asking you to confirm bank information to ignore those requests.
“The IRS already has that information. They’re not going to ask you to confirm it. Just be careful when it comes to know that the IRS will either direct deposit it or a debit card or a check,” Melanie McGovern, communications director for the Better Business Bureau of Upstate New York, said.
McGovern said some banks do reach out through text but only if you opted for them to contact you in regards to the stimulus, but they recommend calling the bank directly.
