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A recent study from bill pay service doxo shows that millions of Americans used their recent $1,400 stimulus checks on paying household bills and debt.

From March 17 to March 21st, there was a 30% month-over-month increase in the number of payments made to pay household bills, and doxo also reports that about 62% of stimulus payments are being spent on bills.

Plus, the total amount paid in household bills was 37% higher when compared to the same period in February.

Jim Kreyenhagen, VP of marketing and consumer services at doxo explained: “We’re getting a strong signal that, generally, the majority of people are being responsible with these payments.”

This goes to show just how important future stimulus efforts will be, as so many Americans weren’t able to stimulate the economy and needed to pay household bills off first.

Meanwhile, leading financial experts believe that the best use of your $1,400 stimulus check is to invest it in either a short-term or long-term strategy.

A recent survey from Deutsche Bank found that millions of Americans plan to invest…