UNM finance professor believes many people will use stimulus checks to pay bills | KOB 4
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UNM finance professor believes many people will use stimulus checks to pay bills

Hawker Vanguard
Updated: March 27, 2020 10:58 PM
Created: March 27, 2020 10:08 PM

ALBUQUERQUE, N.M.- Relief is on the way for the millions of Americans who live paycheck-to-paycheck.

The president signed a coronavirus relief package that will send $1,200 to people who make less than $75,000 a year.

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Dr. Reilly White, finance professor at UNM, he expects a lot of that money to be used on bills, not so much on free-will spending that would stimulate the economy.

"The downside is whether they will be able to spend that money, or if they will be comfortable spending that money," White said. "We have a large number of New Mexicans that do not have adequate savings. 

Between March 19 and March 26, between 31,849 people filed unemployment claims.

Workforce Solutions is asking people to apply for, and re-certify benefits on their website.
 


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