SPRINGFIELD, Mo. -- One of the biggest questions coming into our newsroom today has to do with that two-trillion dollar stimulus package. Many are wondering how much money they'll get and when.
On Your Side is answering your questions. This is not a loan. It's a one time payment. There's not an application. If you make less than $75,000 thousand dollars a year you'll get $1200. Married couples will get double that. Plus, $500 per child.
Viewers are asking On Your Side what about retirees and those on social security? Most will get money.
If you used direct deposit to file your taxes expect the money to be in your bank account late April or early May. Snail mail will take longer. Be on the lookout for a notice in your mailbox. It's basically a receipt. If you do not get this, contact the IRS. If you were recently laid off you need to make these dollars stretch.
"A lot of companies are willing to let you defer payments, loans, insurance and other things. You should take advantage of those opportunities if you need to," said Kenny Gott, a Certified Financial Planner.
Now is a great time to review your budget.
"Consider it a precious gift and use it for what will do the most good for yourself, your own financial situation. This is to help your economy not just the US economy," he said.
Gott also says a great way to use that money, support local businesses and non-profits. Don't forget that emergency fund. If you don't have a savings account, start one.