NewsLocal News

Actions

How Omaha residents are spending their second stimulus checks

A second round of stimulus checks are hitting Americans' bank accounts: checks are 600 dollars for people earning up to $75,000 and 1200 dollars for married couples who earn up to $150,000. How do people plan on using those checks?
Posted at 6:11 PM, Jan 04, 2021
and last updated 2021-01-04 19:11:10-05

OMAHA, Neb. (KMTV) - When talking to Omaha residents about how they plan on using their second stimulus checks, they gave a variety of answers from paying off bills to buying gifts for their children to paying rent in advance.

Dave Wise, the Senior Vice President of Business Banking at TS Bank, says he hopes the stimulus checks encourage people to go out and spend. But there are also other ways to build on the boost.

"If you have high interest credit cards the best thing you can do with that is pay down those debts. The other thing would be, if you don't have a rainy day fund, I would suggest you build that up," Wise said. "If you are in a position to invest it, that's certainly a great option as well."

Wise says Americans are eager for this financial support.

"We saw tremendous volume on internet banking on Friday when most of the stimulus checks started to hit. Our internet banking and our core system was actually down because of the amount of people that had attempted to log on to see if they had gotten their stimulus funds," Wise said.

It is people like Cindy Gerst-Brigham who says she could use all the help she could get.

"Any extra boost helps right now, I wish it was more," Gerst-Brigham said.

Wise also says if you are interested in investing your stimulus check, talking to a professional advisor is a good start if you are new to it.