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Best Ways to Spend Your Stimulus Check


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    Once you get your stimulus check, what do you think in general are the best ways to spend that money? I wrote a blog on this but wanted to open it up to even more suggestions.

    I talked about paying off high interest debt, putting it into an emergency savings fund, investing it, buying things that you can get your money's worth from, and finally only spending some of it and saving the rest until deals come around on items you know you will buy at some point, or even a future vacation or road trip.

    I think the first thing many are doing is using their stimulus money for pure survival. Like using it toward rent, food, utilities or past due bills. And of course that should be #1. Make sure you are taking care of basic needs first. After that though, if you can, what would you suggest spending the money on, if you suggest spending it at all?

    I like the idea of buying cookware and kitchen stuff because that could save a lot of money in the long run by making food and eating from home. Any of ideas like that, that could save you money in the long run if spent wisely?

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    Perhaps stocking up on food in bulk such as shopping at places like Costco or Sams Club. Buying in bulk is usually more expensive up front, but is usually cheaper in the long run, especially if you buy non-perishables such as canned food, dry pasta, beans and rice. Those types of food can go a long way in the kitchen.

    One other alternative. Say you don't really need the stimulus money. Why not donate a portion of it to those who could really use it?

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    DollarsnCents Wrote:

    One other alternative. Say you don't really need the stimulus money. Why not donate a portion of it to those who could really use it?

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    DollarsnCents Wrote: One other alternative. Say you don't really need the stimulus money. Why not donate a portion of it to those who could really use it?
    That's what my wife and I did with a decent portion of our check. We spent some towards new home appliances for our kitchen remodel and donated the rest to our local food bank. If there happens to be another one then we've already decided we're going to donate most, if not all of it.