Millions using stimulus money for drugs, alcohol, and tobacco

Coronavirus

But new survey also shows a third of Americans will spend part of stimulus money on charities

Almost 24 million Americans will buy drugs, alcohol or tobacco with their stimulus money, according to a new survey from the personal finance website WalletHub.com. The survey also shows 84 percent of Americans want another wave of stimulus checks.

Other findings:

Many people are at risk of going broke: Nearly 160 million Americans are less than three months away from running out of money.

Americans want unemployment insurance to match wages: Around 56 percent of Americans don’t think people’s unemployment income should be more than their previous income.

People are generous during the pandemic: A third of Americans say they will donate part of their stimulus money to coronavirus relief.

The young want checks based on financial impact: Millennials are 25 percent more likely than baby boomers to think that stimulus checks should only be given to people experiencing income loss.

Americans think non-impacted businesses shouldn’t get aid: 70 percent of Americans believe that government help should only be given to businesses with a revenue loss.

See the full survey here

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