How I’m Using My Stimulus Check

I received it three months late

It’s about time! I finally got my $1,200 from the stimulus bill that was passed in April.

A ton of my friends and family members received the money from the government, and it was extremely easy for me to be jealous of them. If they were able to get “free” money, then why couldn’t I?

What did I do wrong?

I didn’t file my taxes or check in with the IRS website on the status of my stimulus check. Taking care of adult-like things such as filing taxes and keeping up to date with your documents will serve you well in the long run.

You don’t want to miss out on tax returns. Take advantage of opportunities like the stimulus. Your money will indeed be your money. Through this experience, I learned that it’s just better off taking care of what you’re supposed to.

I thought about three things:

I could invest this money into stocks.

One of my first thoughts was to throw all $1,200 bucks into my Robinhood account and purchase when the markets dipped. Instead of dumping the entirety of my money into stocks, I’ll be splitting it 50/50 with my investing and savings account.

This means $600 into stocks and $600 into savings. Both are beneficial to my future. They each hold a very special place in my financial planning and budgeting.

It’s nice to put money to work in the investment sector because you get to feel like your money is working for you and will eventually bring you a profit.

I could treat myself.

One of my thoughts was to treat myself with some type of expensive gadgets like an iPad Pro or a camera drone for video-making.

It’s great to reward yourself for hard work because saving all the time is no fun if you don’t get to treat yourself every once in a while.

Treating yourself should be seen as a positive thing in life. Some people are extreme cheapskates and refuse to spend any money on something that’s at least a little bit of fun. How can you live life like that? Enjoy it.

Perhaps I could use the extra funds in my bank account to treat my family to special dinners and outings. Maybe even a weekend getaway that we’ve all needed for months could be an option.

You will feel much better spending any “free” money like casino winnings or day-trading profits on something you enjoy rather than something boring and plain.

Since I want to enjoy life thoroughly, I just might treat myself with these extra funds. But that means I stick to the financial goals I initially set.

I could add all this money into an emergency fund.

Building an emergency fund is nothing but a fantastic idea to create peace of mind in the hard times. We won’t always have the answer to life’s problems, but we can do ourselves a favor and save for a rainy day.

Whether my car breaks down, my dog gets really sick, or I need to take an emergency flight, I’ve got the money at my disposal. Depending on your personal budget per emergency fund, you won’t need to feel any guilt about spending that money.

Your proper planning deserves to be rewarded with financial peace of mind and the feeling of using your funds wisely.

Although $1,200 may not seem like a whole lot, it’s a whole lot of “free” money. You can do a lot with that! Whether you want to play it safe or take a few risks here and there is all up to you.

I chose to invest half and save half because I’m in a growth mindset with thoughts of a realistic future. A little preparation can save your ass from big financial troubles.

What you choose to do with your past or upcoming stimulus check in late August or early September (CJNET). Everything you plan on doing is up to you! Don’t waste the golden opportunities to help plan for your future!