We’ve put together three ways to help you make the most of your relief check during the covid-19 pandemic.
1. Pay your bills (like rent!!). This check is meant to help us get through the current economic crisis, which means those of us who have been financially affected, specifically those of us who have lost our jobs, need this money to go straight towards paying rent, paying for groceries, and making ends meet until work starts again. We should use this money to our advantage rather than spending it on things we don’t need.
2. Save it for a rainy day. Everyone needs a solid rainy day fund, and this is the perfect way to jumpstart yours! Dave Ramsey spoke some wise words on this once. He said, “The reason you have an emergency fund is to prepare for the unexpected. When the unexpected happens, you will sleep more soundly at night and not sweat it during the day. Why? Because you will be ready.”
3. Pay off your debt. What an awesome blessing to be able to get a chunk of change in the mail to take some of that debt weight off your shoulders. Whether it’s a credit card that you never quite fully paid off, or some student loan debt that you want to get ahead on, make this money work for you! Remember, the more you can pay down on debt now, the less interest you have to pay in the future.
Let us know how you plan on using your stimulus check in the comments below! // #simpleadulting
{Photo by Elijah O’Donnell}