The federal government’s relief checks will provide millions of Americans with much-needed support in light of the coronavirus shutdowns nationwide, but it won’t be enough to cure their financial hardship, a new survey from Bankrate finds.

The majority of Americans (or 67 percent) anticipate receiving a stimulus payment, thanks to the third fiscal care package President Donald Trump signed into law on March 27. But 31 percent of those expecting money say it won’t sustain their financial well-being for even a month, including 8 percent who say it won’t be enough to help them at all.

It comes on the heels of 10 million Americans applying for unemployment benefits in March alone, an unprecedented surge that’s overwhelmed many state employment offices as businesses close to slow the virus’ spread. Economists at the Federal Reserve Bank of St. Louis estimate joblessness could top 32 percent, which would have consequences for consumers’ wallets and the broader economy.

“This payment will not be a financial panacea, but it is sorely needed by millions,” says Greg McBride, CFA, Bankrate chief financial analyst. “For those already suffering from income disruptions, the payment will be needed for day-to-day essentials and monthly obligations.”

Bankrate surveyed 1,465 adults on how the fiscal stimulus checks would impact their personal finances. Here’s the survey’s key findings and what it means for you.

Key takeaways- Majority of respondents (67 percent) expect to receive a stimulus check, while 16 percent don’t and 17 percent aren’t sure if they will.- 80 percent say stimulus money will be somewhat or very important to their financial well-being.- 31 percent expect payments to sustain them for less than a month, and 64 percent say less than three months.- Half of Americans plan to use checks for paying bills, while 8% plan to spend it on non-essential purchases.Majority of Americans expecting a checkWhile the majority of Americans are expecting to receive a check, nearly 1 in 6 aren’t, and 17 percent don’t know, Bankrate’s survey found.That’s because not everyone is eligible. Who receives a check and the amount is based on a person’s annual adjustable gross income (AGI), or someone’s earnings after top-line deductions. Individuals with incomes up to $75,000 will get the full relief check. Couples, meanwhile, will receive $2,400 as long as their combined adjusted gross income doesn’t top $150,000. Both individuals and couples are also eligible to receive an additional $500 payment per child under age 17.Reduced checks will go out to individuals with incomes up to $99,000 and couples who don’t make more than $198,000, with the payment amount falling by $5 for every $100 over that threshold.Stimulus checks important for Americans’ financial well-beingThe Internal Revenue Service said Thursday it anticipates depositing the first round of checks later this week, at the earliest. Mailed checks, however, will start going out later this month — in some cases taking as long as five months to hit consumers’ mailboxes.Bankrate’s survey suggests the sooner those checks go out, the better. Half of respondents said the checks will be very important, while 30 percent said it will be somewhat important to their financial situation in the near future. By comparison, only 5 percent said the checks wouldn’t be important.Broken down by age group, the checks matter most to millennials and Generation Xers, with 55 percent of respondents in both age groups reporting that the checks would be very important. Nearly 4 in 10 (or 43 percent) of baby boomers reported the checks as having this same level of significance.The payments also become more important for individuals in lower-income categories. Nearly 7 in 10 individuals (or 69 percent) who make under $30,000 a year said the stimulus money will be very important for their financial situation. That compares with 36 percent of those making $80,000 or moreThe checks will fill a much needed a hole in Americans’ wallets, one that existed long before the unexpected surge in unemployment. A separate Bankrate survey from January found that nearly 4 in 10 Americans didn’t have sufficient savings to cover a $1,000 emergency expense, with lower earners disproportionately less prepared than their counterparts with higher incomes.