This season has been very interesting. Stimulus checks were discussed months ago and we continue to hear from the government that another stimulus check is on the table for discussion. We have noticed many purchases by friends and others and are still unsure what we are going to do with our stimulus.
There are so many things you can do with this money and it has us wondering what to do. Below are 5 things worth considering for savings using your previous stimulus money…or ideas for future stimulus checks
5 Ideas for Your Stimulus…
- Pay off debt. (Always a good idea!)
- Open a Roth account or frontload an existing Roth account.
- Move it into a High Yield Savings Account like Ally.com
- Open a 529 for your child(ren) for college savings.
- Open a brokerage account (taxable).
So, there you go, 5 ways of saving by using your stimulus check.
What are some other ideas you have?
As always, we are passionate about helping you in “Saving Money to Make Memories.”