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50% of Americans are using the the 3rd stimulus check to pay off debt, report finds

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After the first $1,200 stimulus check arrived in Americans’ pockets, the US Census Bureau found the majority of recipients were using the money on basic expenses, like food and households supplies.

But priorities have changed for the most recent $1,400 stimulus check to paying off debt.

LendingTree, an online lending marketplace, released a report last week, citing Census Bureau data. It found that in March, only 19% of Americans said they were using the latest stimulus check for basic expenses, and 50% were using the check to pay down debt. In June 2020, just 16% of details ⇒

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