If you’re looking for advice on the best or smartest ways
to spend or invest your stimulus check we got you. Please note the following ideas
- Pay your tithes (10%)
- For ease of liquidity in case times get rougher put the funds in a high interest money market savings account.
- Pay bills due or pay upcoming bills in advance for the next few months
- Help less fortunate family or friends.
- Donate a percentage to charity.
- Pay down or pay off high interest credit card or loan debt.
- Pay off medical bills
- Invest in a new or contribute to a current IRA account.
- Set up an emergency or rainy day fund.
- Start a business
- Save for your child’s education
- Put it towards a down payment on a house
- If you have steady income and a solid emergency or rainy day fund you can use your stimulus check to fuel you local economy by supporting small businesses in your community.
- Save it to take a vacation or a staycation once the economy opens back up
Comment below on how you plan to spend your economic impact payment stimulus check.