About three out of five Americans who received COVID-19 stimulus payments used the funds to make purchases or pay bills, which was consistent with the federal government’s intention to stimulate the economy. However, many people used at least part of the funds to improve their overall financial position by building savings or paying down debt.

Source: 2021 National Financial Capability Study, FINRA Investor Education Foundation, 2022 (multiple responses allowed)

Jim Nielsen, CRPS®
Financial Advisor
CUSO Financial Services, LP
at First Heritage FCU
202 Denison Pkwy E • Corning, NY 14830
607-937-1255
www.fhfcu.org/financial-planning
jnielsen.cfsinvest@fhfcu.org

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