Do you have any savings? Do you have debt? Are you currently employed? If you give us an overall idea of your situation, we'll be happy to offer advice.
@Anonymous wrote:Not sure how popular this opinion will be, and savings and good credit are absolutely vital to overall financial health. Having said that, this economic situation isn't a market reset or the result of naturally occurring financial circumstances. We are in this because of this virus anomaly. The stimulus is meant to help people who need the money to stay afloat, of course. But for those people who don't technically "need" the money, I suggest that we should each use at least some of it on stimulating the economy, on consumerism. Go out to eat (when you can that is). Buy something from a retailer. That kind of thing. I was planning on buying a couch at the end of the year or the beginning of next after my family I moved to our new home. I went ahead and bought it now and will use that check to pay the credit card bill for that purchase. The rest will go into savings. Again, I get that a lot of folks won't agree with my opinion. Still, I hope as a nation we can jump start things some when life begins it's slow return to normal.
A person's personal savings can help boost the economy too. The bank or credit union in which the money is deposited will use that money to make loans. The borrowers will be buying stuff with it.
If you have savings and your current situation is comfortable, I would put as much as you can toward any debt that's incurring interest (especially CC debt). Since it's money that wasn't expected, you won't miss it anyway.
