How to make the most of your stimulus payment

The majority of tax payers have already received or will be receiving a stimulus payment. Read on, for suggestions on how to get the most out of your stimulus check.

It is probably obvious that very retailer on the face of the earth is hoping that you will spend your windfall, on their merchandise. Many are even offering incentives, to convince you to shop with them.

However, if you are currently dealing with credit card debt it’s probably wiser to pay it down, instead of buying new merchandise that you really don’t need. Your money will go further if you pay off (or down) your highest interest credit card, first.

You also have the option of investing the money. Although nothing is guaranteed, there are many types of investments that are relatively safe. Financial experts often advise you to go with a variety of low cost mutual funds.

Another idea is to start an ‘emergency fund’, with the money. You never know when you might need money for car repairs or other unexpected occurrences. With the state of our current economy, most consumers are finding it increasingly difficult to keep up with the rising cost of everyday necessities… much less emergency situations.

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