How much relief is the latest relief check?
This article originally appeared on Taos News
By Taylor Hood
While some New Mexicans have received their $600 stimulus check, there are still many waiting for the relief it can offer. But how far will $600 actually go in Taos? Luckily, doxo, an online bill pay service and market analysis content provider recently ran the numbers.
Doxo concluded that the average Taoseño spends roughly $903 dollars a month on bills. The company further concluded that the stimulus check, which began going out to Americans on Dec. 29 as part of a COVID-19 relief bill, would cover only one auto loan payment (average $424), or two months of utilities ($268), or even two years of dental insurance ($25 / month), but still falls short of offering real longterm help.
So how likely are Americans to spend their new money on utilities, rather than on luxuries? According to a doxo survey, around 59 percent of Americans plan to use their relief money to pay bills.
For more information on doxo’s findings, visit doxo.com.