By now, most people should have gotten that second stimulus check… what did you do with yours? Still have it? If so, here are just a few thoughts on what you could do with that money besides spend it!
If your credit needs improvement, or if you need to establish credit, your stimulus money is the perfect place to start! Consider using all or part of it to set up a secured credit card account. They’ll hold the money for you and you’ll be on your way to rebuilding your credit.
Another option is to pay down your credit card balances with your stimulus money. Not only will that free up some available credit, but you’ll save money on interest, and you might just see a little boost in your credit score.
Or you could simply save the money! Put it into your savings account for when you need it. No matter what you do with your money, make sure you don’t just blow it. Too many people run out and buy that big screen TV, fancy new computer, new phone, or other toy that just came out, only to need the money for something once it’s been spent. So, before you run to the corner big box store, sit down and really think about what you’re going to do with your check.