More ‘boomers’ to use stimulus checks for savings, debt, according to recent poll

BOSTON. A new poll shows the majority of baby boomers may be looking to spend their stimulus checks on bills and necessities, not travel or consumer products.

The survey found 27.8 percent of respondents said they would pay bills with their checks, while 17 percent would spend them on necessities, such as gas and food, and 16.5 percent would save the money.

Only 7.6 percent reported they would spend the money on consumer goods.

The poll, which surveyed 770 people and represented all 50 states, was conducted by Charlestown-based Eons.com, a social network for the baby boomer generation.

Some economists are worried that Americans not spending their money on consumer goods means no help for the struggling economy. But Jeff Taylor, who founded Eons.com as well as Monster.com, said by saving or paying off debt,  Americans will be putting themselves in line to spend more later rather than sooner.

“I think no one’s really willing to give it away. It will likely go toward immediate need,” Taylor said. “But if people use it on bills, it might be better for long-term economy.”