BASKING RIDGE, N.J. – The majority of Affinity FCU members surveyed in a recent poll said that debt reduction will be their top priority when they receive the government checks as part of the recently passed stimulus package.
Of 143 members surveyed, 90% said they expect to receive a rebate check and 59% said they will use it to pay down credit card or other debts.
The stimulus package will provide $600 rebates for single taxpayers and $1,200 for married couples.
A majority of the respondents, 58%, also said they expect the government payments will help jump-start the economy.
Only 24% of the respondents said they plan to deposit the funds in their savings, and just one respondent said it will go into retirement savings.
About 9% of respondents said they will use the rebates for a special purchase, and 8% said they will use it for a vacation.
Thirteen-percent said they didn’t know what they will do with the rebates.
