Some people are fortunate enough to have secure jobs even in the COVID-19-related economic downturn. You might not need the money the stimulus checks offer to families across the country. Others may be relying on these stimulus checks to help pay for essentials. While nearly everyone could use the extra money, some ways to use your stimulus checks are smarter than others.
COVID-19 is a term everyone is familiar with by now. It has left fear and panic in its wake, and millions unemployed in the U.S. alone. That doesn’t even include those who still have jobs but have taken significant cuts in pay or major reductions in business.
As the reality of COVID-19 sets in across the country, the unfortunate truth is some will seek to profit from people’s fear and the opportunities that present themselves along the way. While many people are out of work or sustaining significant financial challenges, some are working overtime to create elaborate scams to take advantage of those who are suffering already.
Times are unsettling for millions of Americans facing reduced hours, changing work functions, and uncertain financial days ahead. With COVID-19 spreading, it’s more important than ever for you to take the reins over your finances and manage them carefully to make your money work for you despite the uncertainty all around. These key ideas can help.
Saving money, like weight loss, can be a struggle for many people. Both are laudable goals — and accomplishments should be celebrated in ways that do not undo your progress. For example, avoid overeating to celebrate 10 pounds lost or not spending on a big-ticket item once you’ve saved $1,000.