Stimulus Checks

Photo by Alexander Mils on Unsplash

Let's chat about money and stimulus checks today, shall we?

From my understanding everyone who has filed taxes in the past should get $1,200 single and $2,400 couple as a one-time payment. If you have dependents 17 and younger, you'll receive an additional $500 per child. Unemployment compensation is $600/week for 4 months.

Unless you are an "essential employee", you are likely not currently working due to the virus outbreak, so what's the best plan of action for your money?

Personally, I would stock up on food. (Stock up, not Hoard.) Create a menu plan for at least a month.

Go through your pantry and freezer and make up a plan to use up everything you have and fill in the gaps with your shopping list. Stock up on baking supplies and canned goods. Use up those leftovers, rather than let them go to waste. You can eat them for lunch the next day. Bake your own treats rather than buy pre-packaged.

You want to make this money go as far as possible since it looks like we will be social distancing through April, possibly longer.

Next, I would pay my priority bills - rent/mortgage and utilities. Though these companies may give you a break due to the virus by not evicting/foreclosing or turning off your utilities at the moment - when this is over they will be expecting payment in full. 

This is NOT the time to buy new electronics or designer goods. Don't waste your money! Be financially responsible and ensure that your family is taken care of! 

How do you plan to use your stimulus check? Let me know in the comments!