Whether you’re waiting on your second stimulus check or wondering if there’s more money coming down the line, there seem to be quite a few questions circulating this topic.
We’re here to answer your questions regarding the most recent stimulus checks and the potential of a third round.
If you qualify to receive stimulus money and haven’t yet received the first or second rounds of funds, it’s likely the government doesn’t have your correct bank account info or mailing address on file.
Don’t worry — it’s not too late to access your stimulus money! The IRS will be reconciling any missed stimulus checks through 2020 taxes for individuals who file a Recovery Rebate Credit.
A third round of stimulus money is looking likely and will be voted on soon in the House of Representatives. However, there is discussion that this next round of stimulus money will go to a more targeted group of individuals who are struggling financially by lowering the income thresholds for qualifying individuals.
The main goal of these government stimulus packages has been to boost the economy in the midst of COVID-19 and the resulting economic impacts, however, there are no rules on how you spend your stimulus money.
For many, these stimulus checks have gone towards immediate needs like rent, gas, groceries, and so on, but for others, this money is merely an added cushion to an already plush bank account.
Like we said, there are no rules on how you can spend your stimulus money! If you don’t need the money, you can absolutely share with someone who needs it more. In fact, there’s an entire movement of people choosing generosity over consumerism during this pandemic!
If you’re interested in sharing your stimulus check with someone in need but aren’t sure where to start, here are some creative ideas on how to share!