As another round of stimulus checks hit bank accounts, you may be wondering the best way to spend it. For past round of the stimulus, people treated themselves to a shopping spree or tried their hand in the market for the first time, but that may not be the best way to spend.
First, use the stimulus to get up to date on bills like mortgage or rent, car payments, insurance, etc. If you are current on your bills but low on savings, put the stimulus in savings. The pandemic served as a reminder that many people don't have robust savings to fall back on.
If you are current on bills and have a year's worth of bills in savings, then try to find a small business or charity to support.
Learn more here.
