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Almost half of Americans used the $1,400 stimulus checks to pay off debt

12 days ago   |   By Business Insider

According to survey data from the Surveys of Consumers at the University of Michigan, 45% of respondents mostly used the $1,400 stimulus checks to pay off debt.
Stígur Már Karlsson /Heimsmyndir/Getty Images
A new paper looks at how Americans used their third stimulus checks.
A large share, 45%, of Americans surveyed used the $1,400 to mostly pay off debt.
Claudia Sahm said the checks were used to help families financially but also helped "stimulate the economy."
See more stories on Insider's business page .
The third round of stimulus checks helped families with expenses and bills, but in...
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