16 US states to provide supplementary stimulus funds. Is yours on the list?

Soon, 16 states in the United States will distribute supplementary stimulus cheques, but only to eligible residents.

During the first two years of the Covid-19 pandemic, reports of federally financed stimulus cheques routinely filled the internet. However, after the third round of payments was made in March 2021, suspicions of a fourth economic stimulus payment started to circulate.

Fast-forward to August 2022, when numerous states have implemented their forms of stimulus programmes in place of federal stimulus monies to support their citizens in a better way.


16 states that have implemented their own stimulus programmes include:

• California
• Colorado
• Delaware
• Florida
• Georgia
• Hawai
• Idaho
• Illinois
• Indiana
• Maine
• Massachusetts
• New Jersey
• New Mexico
• Oregon
• South Carolina
• Virginia

How to handle the stimulus cheque?
No matter how little or much money you receive as a relief payment, it can be quite motivating to continue on your financial path when it comes as a surprise.

Whether you receive a $50 stimulus cheque or a $1,000 stimulus cheque, you should think about paying off any high-interest debt, such as credit card debt or personal loans, investing the money in a Roth IRA or regular IRA, or setting it aside for a future home purchase. Charles Schwab and Fidelity are two of the top brokers that provide Roth IRAs, according to Select.

Put your new stimulus money into a savings account if your emergency fund is low or you're saving for a large buy. The American Express High-Yield Savings Account and the Sallie Mae High-Yield Savings Account are two solid options to explore if you're currently earning a poor interest rate on these funds. Instead, try opening a high-yield savings account, which can pay you more on your money each month.