Not all Americans will get a fourth stimulus check, but you’re in luck if you live in California. Governor Newsom has enacted new stimulus programs for the state of California. This new deal includes checks for $600 and $1,200 that will go to those most affected by the economy.
About two out of every three residents in California qualify for this new California Golden State Stimulus. Some Californians have already received their payments, but if you haven’t received an additional stimulus check yet, now is your opportunity to find out if you are eligible!
Table of Contents
- How does the Golden State stimulus check work?
- Who qualifies for the Golden State stimulus?
- What’s the criteria for qualifying for the California stimulus?
- When am I getting the Golden State stimulus?
- How much is the Golden State stimulus?
- Where will I receive my Golden State stimulus check?
- How should I use my stimulus check?
- Where can I find assistance if I don’t qualify for the Golden stimulus check?
- MoneyLion can help you secure your financial future
How does the Golden State stimulus check work?
California $600 stimulus checks are one of the most extensive state-level stimulus programs. But how do they work? And do you have another stimulus check coming?
Governor Newsom’s plan is to include both low- and middle-income families in his new stimulus program. So, there is a huge number of people who will receive the Golden State stimulus in California.
In early September, many California residents saw stimulus money deposited into their accounts, but other people have yet to receive any money. So, what’s the deal with the $100 billion recovery plan? And who qualifies for the Golden State stimulus? Let’s find out!
Who qualifies for the Golden State stimulus?
If you make between $30,000 and $75,000 per year, you can qualify for the California stimulus check. Your check would amount to $600, but households with at least one child will get an extra $500. This applies to immigrants who file taxes, even if they are in the country illegally.
Keep in mind that this is the second round of stimulus payments being dispersed by the Golden State government. So, if you make less than $30,000 per year, the state of California should have already dispersed a $600 payment to you as well, which also included immigrants.
The California State government chose to expand the income level range in order to increase people’s eligibility. This is because middle-class households and individuals who make a certain amount of money didn’t get federal stimulus checks like everyone else.
What’s the criteria for qualifying for the California stimulus?
There are specific criteria that determine who gets stimulus checks in CA. We’ve rounded up a list of the prerequisites that you must meet in order to qualify for the Golden State stimulus payment.
- Your 2020 taxes are on file.
- You make $75,000 or less per year.
- You’re either a CalEITC recipient or an ITIN filer.
- You were a resident of California for the majority of 2020.
- You are currently a California resident.
- You cannot be claimed as a dependent.
When am I getting the Golden State stimulus?
The Golden State stimulus checks are arriving in batches. Most California stimulus checks will be deposited into your account electronically. The payments are delivered twice per month, which is the same as every two weeks. The most recent payment was sent on September 17.
So, check your account to see if your payment has been deposited. The next batch is expected to go out on October 5, and these bi-monthly dispersals will continue to take place through the end of the year. If you filed your taxes late or received a physical tax return rather than a direct deposit, you should expect your stimulus payment to be delayed.
How much is the Golden State stimulus?
The dollar value of the Golden State stimulus payment will vary depending on your income level and your needs, but no matter what, it’ll be either $600 or $1,200. California has created a California stimulus check estimator, which you can use by clicking here.
Where will I receive my Golden State stimulus check?
The state will likely send your Golden State stimulus check via direct deposit into your bank account. It will be deposited into the same account associated with your tax returns. If you don’t accept tax returns via direct deposits, you should receive a check in the mail within four weeks.
Are you tired of waiting for things like your tax return or stimulus to get to you via snail mail? Sign up for a RoarMoney MoneyLion account today! This way, you can set up direct deposits for things like your paychecks, tax returns, and stimulus payments. MoneyLion comes with zero hidden fees, and you’ll have access to a full suite of financial tools as well.
How should I use my stimulus check?
Make sure your money stretches by using your California stimulus check wisely. Invest in yourself, your business, or your career. This way, your money will go the extra mile.
We’ve outlined a few ideas of how to use your stimulus check. But no matter what, the underlying theme is to put your money towards something that will help you make more money.
Where can I find assistance if I don’t qualify for the Golden stimulus check?
Do you find yourself without a California stimulus check but you’re still in need of extra cash? There are ways to get money now if you need it!
For instance, MoneyLion offers a full suite of financial tools to help you out. If you need money now, our Instacash program is the most ideal option. Instacash is a great program where you can get cash advances of up to $250, all without having to agree to hard credit checks.
Any type of recurring payments that are deposited into your account can help you qualify for Instacash. This includes alimony, child support, and even unemployment benefits! You can also open a RoarMoney account and have the convenience of a banking app and a loan in one.
MoneyLion can help you secure your financial future
Eventually, the California stimulus checks will come to an end. So, even if you qualify for stimulus checks and you have received them, they do not guarantee that you’ll have a sound financial future.
But at MoneyLion, we want to see you roar into your future. Our Credit Builder Plus program can help you work towards a solid financial future and an impressive credit score. The Credit Builder loan is simple.
All you have to do is apply for a loan up to $1,000. You’ll gain access to part of the funds right away, and the rest of your loan will remain in your Credit Builder account until you pay off your loan.
You’ll pay off the loan via monthly installments, and we’ll send proof of your on-time payments to the three major credit bureaus. At the end of the twelve months, you’ll receive the rest of your money, and from there, your credit score will increase. The best part is that your future interest rates will be lower as a result of participating in the Credit Builder program. Try the Credit Builder Plus membership today!