The IRS has already started distributing the second stimulus check, but this money will not reach everyone at the same time
Photo: ROSLAN RAHMAN / AFP / Getty Images
The IRS has already started issuing the second stimulus check. The problem is that this money will not reach all of them at the same time , which might be difficult for some people to bear, on all if they urgently need it to cover basic expenses.
However, according to new research from a team of economists at Boston University and Brown University, it found that it could be beneficial for you not to receive the second stimulus check first than the others.
And it is that in the study it was concluded that spending more time waiting for an unplanned sum of money led people to spend less money, as well as more savings , according to Linh Tô, professor at Boston University, and Neil Thakral, professor at Brown University.
They got to this point by dissecting data from the stimulus checks that occurred during times of crisis, as well as analyzing research spending habits.
For example, when stimulus checks were issued during the crisis of 2008, eligible individuals generally received $ 600 and married couples $ 1, 200. Then-President George W. Bush signed the bill in mid-February on 2008 and, in late April, the IRS began issuing the checks.
When researchers looked at these people’s weekly spending, they found that stimulus check spending was largely related to when people received the money, since in households where the check arrived sooner was spent double than in the other families , as reported in MarketWatch .
The conclusion of the researchers is that the period that It takes place between the government saying that the support money will be given to the people and receiving this check gives people more time to think about the best way to use the money and save.
So, if this time it’s your turn, I received r the second stimulus check to the last, don’t worry so much and take this time to reflect on how you will spend this money.
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