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An AARP Bulletin Today poll indicates that people may do what they’re supposed to do with their upcoming economic stimulus payment—spend it. Of the 1,235 adults surveyed, 61 percent said they plan to spend some or all of their stimulus payment, including 43 percent who plan to use the money for vacations and dining out.
Only 12 percent said they plan to save all of it.
Among the respondents, ages 18 and older, 65 percent said they plan to spend at least some of their payment on personal necessities such as food and clothing, followed by housing expenses (49 percent), energy bills (47 percent) and paying down consumer debt (44 percent). Typical was Carolyn Eldred, 74, of South Dennis, Mass., who said: “I just have to pay some serious bills.”
The poll, conducted in March, has a margin of error of plus or minus 4.2 percentage points.
Depending on taxpayers’ earned income, stimulus payments will range from $300 to $600 for individuals and $600 to $1,200 for couples. See our Quick Guide to Rebates or use the IRS’s online calculator (www.irs.gov/app/espc/) or contact the IRS at 1-800-829-1040 toll-free.
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