Creative Ways To Spend Your Stimulus Check

There are many creative ways to spend your stimulus money. Some ideas include investing in a 529 plan, paying rent, buying school supplies, and more. Below are 21 ways to spend your stimulus check. Consider each option carefully and decide how to spend it wisely.

21 Ways To Spend A Stimulus Check

If you have received a stimulus check in the mail, you have many options on how to use it. You can invest the money into your business, stock market, or self. The money will be tax-free and you can put it to good use.

Investing In A 529 Plan

The first step is to choose a 529 plan. This type of savings plan is primarily administered by state governments. Most states offer one. You can also choose an advisor-sold plan if you prefer the help of an advisor. There is usually a fee for advisors.

Paying Rent

The federal government’s stimulus checks have helped many struggling people pay their rent and mortgage payments, but they can’t live off of them indefinitely. There are several ways to spend your stimulus check to reduce the amount you owe each month. For starters, you should check with your landlord to see if you qualify for unemployment benefits or other welfare programs that can reduce the amount you owe. Alternatively, you can ask your lender for deferment of your rent payments.

Buying School Supplies

One way to save money when buying school supplies is to check for sales tax holidays. During the back-to-school shopping season, dozens of states offer sales tax holidays that can save you anywhere from three to ten percent. You can also sign up for a store’s email list for special offers and deals. Some stores also offer additional discounts for credit card holders.

Investing In A Lower-Risk Investment Vehicle

There are many ways to invest a stimulus check. Investing it in the stock market can be risky and you may not get back the full amount you invested. However, by investing for the long term, you can see a higher return on your money.

Getting Ahead At Work

A virtual assistant can help you get ahead in your job. A virtual assistant will take on time-consuming administrative tasks like research and lead outreach so you can focus on client work. Thomas Hawkins, who owns the Electrician Apprentice headquarters in Dallas, is considering hiring a social media manager to increase his business’s online presence.

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