About that stimulus check

Obviously if you have lost your job, been furloughed or otherwise have an income problem, you use that check for necessary expenses to keep your family going.

However, if you have your income, what do you do with the money?

My suggestion, save it for a future rainy day at least until the crisis is over. Stimulus implies spending it to help the economy, but if you do that you may create your own financial crisis in the months ahead.

And remember, if you had a increase in income since 2018, you could be required to pay all or a portion of the stimulus back. However, there seem to be questions about this actually happening.

3 comments

  1. I am lucky enough to not need this stimulus check. I am already donating to local food banks because many people are not so lucky. If I get a check I will donate it as well and worry about tax consequences later. If you need the check now or don’t have any emergency fund, then keep it. If you don’t, please consider those who are or will be soon struggling to put food on their table.
    Be safe.
    Stay well.

    Like

  2. im hoping that they start sending those stimulus checks out soon..i really need it..but am going to save at least part of it…ihope i wont have to pay back any part of it..my income has been severely reduced..and I feel that the government needs to take care of the american people..all us taxpayers..

    Like

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