Here's how parents are spending stimulus checks sent to their kids

Data shows that the larger amounts sent to families with dependent children helped boost economic stability.

"When the federal government took action in the form of robust, broad-based cash income transfers that responded to macroeconomic conditions, hardship was held at bay and by some estimates even declined," the co-authors wrote in the study.Some families used the money to adapt to pandemic life and prepare for the post-pandemic new normal.

Ferrey gave her daughter, who started college this year, her check to buy a desk to help while she's doing schoolwork at home. The rest went into her savings account. "It was really nice to just be able to get them outdoors, because I feel like having them inside so much was really difficult for everybody," said Ferrey, also a member of SaverLife.

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Some Black parents see less bullying, racism with online learning and are keeping kids homeThrough distance learning Black parents were able to see how their children were treated by their peers and teachers and saw a system that did not benefit them, the report said.
Source: latimes - 🏆 11. / 82 Read more »