How Far Will Your $600 Stimulus Check Go In Faribault?
Many people have already received their 2nd stimulus check of $600, still other are waiting for it to show up in the mail or deposited into their bank account. One company, doxo, recently looked into just how far that $600 would go towards someone's bills in the Faribault area, the answer, not really far.
On average, according to doxoInsights, Faribault area residents pay $974 in bills a month, this number doesn't include rent or a mortgage payment. So the $600 stimulus check won't cover a month worth of bills for many people. But if you broke down those bills individually that $600 might cover some specific portions of it for the next couple of months. Doxo broke down those numbers, again on average, and how many months the $600 stimulus check would cover an individual for.
|Auto Loan||$332/month||~2 month/s|
|Auto Insurance||$221/month||~3 month/s|
|Cable & Internet||$152/month||~4 month/s|
|Mobile Phone||$89/month||~7 month/s|
|Health Insurance||$171/month||~4 month/s|
|Life Insurance||$79/month||~8 month/s|
|Alarm & Security||$88/month||~7 month/s|
|Dental Insurance||$37/month||~16 month/s|
While the current stimulus check of $600 doesn't cover everything in our area's average of bills, it does help out with some things. According to the doxoInsights data the Faribault area ranks, #256 in the nation in average monthly bill amount, and #10 on Minnesota's highest average monthly bill list. The highest amount is found in Duluth with an average of $1,130 a month. Minneapolis/St Paul actually has a lower average than many areas with $930/month. Owatonna's average is slightly less than the Faribault area at $959/month.
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