Monday, September 20, 2021

Play

The U.S. ramps up expulsion of Haitian migrants from the Texas border, and a new report looks at the economic impact of imposing restrictions on reproductive health.

Play

The U.S. military apologizes for a drone strike that killed 10 Afghan civilians, the Justice for J6 rally in Washington draws few, the CDC says it will help public health departments, and France recalls its ambassadors to the U.S. and Australia.

Play

Lawsuits stall debt relief for America's Black farmers; Idaho hospitals using "critical care" protocols; grant money boosts rural towns in Utah and more conservation acreage could protect the iconic sage grouse.

Stimulus Checks, Tax Refunds Could Help Build Rainy-Day Funds

Play

Thursday, March 18, 2021   

BOISE, Idaho -- With stimulus checks hitting bank accounts and tax refunds on the horizon for some, financial experts are advising people to make a plan for what to do with the influx of cash.

Jon Maroni, marketing director for Canopy Credit Union in Spokane, said obviously, the necessities such as groceries come first.

If folks have that covered, he suggested people should build up their rainy-day accounts, which should be enough to cover the bare essentials such as rent and utilities for three months.

"A majority of households, and I'm guessing this number has increased, cannot afford a $400-$500 expense without accessing some form of credit," Maroni explained. "And so, this could be, if your base-level expenses are already taken care of, the opportunity to really develop that emergency fund."

The $1,400 stimulus checks hit bank accounts as early as Wednesday. Payments phase out for individuals making more than 80,000 dollars a year or married couples jointly making 160,000 dollars.

In the first round last year, nearly 840,000 Idahoans received stimulus payments, totaling $1.5 billion.

Maroni pointed out people should also pay down their debts with stimulus money and tax refunds.

If that's not an issue, they can contribute to their retirement fund.

If they're really fortunate, folks can donate that money to nonprofits or someone in need.

Maroni also advised people not to judge someone for how they spend their stimulus checks. They could have been recently evicted or struggling with food insecurity.

"Remember that they have experienced not knowing where their next meal is going to come from," Maroni observed. "So when you have money, you spend it on those things, because if your experience has been 'I don't know how long I'm going to have this money for,' that really, really changes how you handle finances when you get a windfall."

Maroni added if folks aren't sure what to do with the money coming in, they can reach out to their local financial institution for individual advice.

His credit union offers free coaching for members and people in the community.


get more stories like this via email

This, year the theme of Sea Otter Awareness Week is the species' key role in the mosaic of the ecosystem. (Wikimedia Commons)

Environment

MONTEREY BAY, Calif. - This week, conservation groups are celebrating Sea Otter Awareness Week with online and in-person events across the state…


Environment

LAS VEGAS, Nev. - Admission to any state park in Nevada is free this coming Saturday, as part of the first Nevada Public Lands Week - with a series …

Social Issues

HARRISBURG, Pa. - A new Redistricting Advisory Council announced last week by Gov. Tom Wolf's office will focus on reducing gerrymandering as new …


The Nature Conservancy says the U.S. loses nearly 1 million acres of forest lands each year through development and other factors, reducing nature's ability to capture and store carbon dioxide. (Adobe Stock)

Environment

DULUTH, Minn. - As Minnesota looks to address the impact of climate change on the region, land managers and policymakers are reminded of the role …

Health and Wellness

By Savanna Strott for Eye on Ohio, The Ohio Center for Journalism Broadcast version by Emily Scott for Ohio News Connection. COLUMBUS, Ohio - Ohio …

According to the CDC, around 181 million Americans have received COVID-19 vaccinations. (Adobe Stock)

Health and Wellness

LOUISVILLE, Ky. -- One in five unvaccinated Kentuckians say they are open to getting the COVID-19 vaccine, according to a new poll from the …

Health and Wellness

HELENA, Mont. - It can be hard for people with disabilities to afford the assistive technology they need to perform daily activities. A program in …

Social Issues

LA CONNER, Wash. - The exhibit of an artist who depicted the lives of farmworkers in northwest Washington has been recognized for its quality…

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member and audience-supported news source since 1996 Copyright 2021