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Stimulus Checks: 65 Million Children Expected To Receive Child Tax Credit This Week

Stimulus Checks: 65 Million Children Expected To Receive Child Tax Credit This Week
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Why you might pay other debt, not student loans, with stimulus cash

Detroit Free Press Many families could be looking at more money than they ve ever seen at once when you add stimulus cash of up to $1,400 a person on top of a healthy income tax refund. So  if you haven t already spent it  what s a solid plan of attack to save it? If someone has credit card debt, I think the best use of any money would be to pay it off, according to George Papadopoulos, a certified public accountant and financial adviser in Novi. The average rate that consumers are paying on credit card debt is 16.15%, according to CreditCards.com.

Why you might pay other debt, not student loans, with stimulus cash

View Comments Many families could be looking at more money than they ve ever seen at once when you add stimulus cash of up to $1,400 a person on top of a healthy income tax refund. So  if you haven t already spent it  what s a solid plan of attack to save it? If someone has credit card debt, I think the best use of any money would be to pay it off, according to George Papadopoulos, a certified public accountant and financial adviser in Novi. The average rate that consumers are paying on credit card debt is 16.15%, according to CreditCards.com. The rate on your cards could be much higher if you have bad credit or built up debt on a credit card issued by some retailers.  The average rate for those with bad credit is 25.3%, according to CreditCards.com. 

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