People tell FOX 35 how they'll be spending their stimulus money
ORLANDO, Fla. - Many people are logging into their bank accounts to see if they received their stimulus money.
With stimulus money on the way, many already know what they’re going to use it for.
Taxpayer Melissa Rizo said, "About two months of rent."
Meanwhile, taxpayer Dee Biunno said, "I want to invest it."
And taxpayer Adrian Buie said, "I’m thinking about putting it in an IRA for my future when I retire."
FOX 35 Orlando talked to Certified Financial Planner Joe Bert, of Certified Financial Group Inc., about when the money will arrive in our bank accounts or via mail.
"You can’t get a precise time," he said. "In fact, it may not even be in your bank account tomorrow (Wednesday), but it should be the next couple of days."
A person who makes $75,000 or less will receive a $1,400 payment. Couples filing jointly will get $2,800, as long as their income is under $150,000.
"If you have kids in college, they get $1,400. If mom and dad are staying with you, you can claim them as dependents. They get $1,400 bucks. There’s a lot of money to be floating around out there," Bert said.
Bert recommends paying off credit card bills first and creating an emergency fund before investing.
"Because most people get into trouble with credit cards because they don’t have an emergency fund."
He tells us this is based on the last tax return you filed, whether it's 2019 or 2020.
If you earned more in 2020, he recommends waiting for your stimulus payment before filing taxes. And if you don't receive your stimulus money, go to IRS.gov to check its status.