Study Calculates that $1,400 Payments Will Let People Pay Bills Through July

By:
Chris Gaetano
Published Date:
Feb 18, 2021
A study by data intelligence company Morning Consult has found that the $1,400 stimulus payments will provide financial security to about 22.6 million people through July, provided that they are sent around March, according to CNBC.The figure was determined through a household survey that found that 30 million adults were unable to pay their bills in January. Of those, 82 percent were in households making $50,000 or less a year, the low threshold that some Republicans had sought in their pandemic relief bill (though ultimately Democrats kept the threshold at $75,000). Meanwhile, on average, those unable to pay their bills last months were about $300 short.

With this in mind, CNBC calculated that if the $1,400 payments are sent to Americans at the beginning of March, 22.6 million adults will be able to pay their expenses completely for four and a half months. The remaining 7.5 million who could not pay their bills were, on average, $500 short, and so the payment would last them a little less than three months instead.


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