Guest Blog - What to do with your CARES Act Stimulus Check

So, you’ve just received your CARES Act Stimulus check or direct deposit, here’s what to do with it.

If your income is not stable, or if you’ve been laid off/furloughed then you use the stimulus money to cover your “Four Walls.”
-Food
-Utilities
-Shelter
-Transportation
-Then direct any leftover funds into your emergency fund.

If your income is stable then use the stimulus money to help you crush your financial goals. 
-Pay off consumer debt (credit cards, car loans)
-Invest in your Roth IRA
-Invest in your child’s college savings or 529 plan
-Put it towards your 3-6 month emergency fund

If you have questions on budgeting or would like more information on any of the information provided, please reach out to me! I’d love to have a conversation with you. 

Jeff Howlett
jeff@mastersfinancialgroup.com
616 – 201 – 3684