The moment you’ve waited weeks for has finally arrived: Your stimulus check has successfully landed in your bank account. You’re feeling good and secure, knowing that you’ve got some extra money laying around to help pay bills, rent, or maybe even treat yourself.
But there’s just one problem: It won’t last forever. If you don’t invest it wisely, that stimulus payment will disappear as fast as it was transferred into your account.
There’s an upside, though: There are a few ways to help make your stimulus check feel like much more. Here’s exactly what you should do with your payment — before it’s too late!
Invest in the Stock Market
The stock market is hot right now! But if you’re someone who has never invested before, it’s natural that you may be nervous about making the wrong move — and losing your cash. After all, this is your hard-earned money you’re risking.
But things are different now: You’ve got the stimulus check in your hands, making this an excellent opportunity to dive into the market for the first time. Before you get started, make it a point to research how to invest in the market for the first time and the best stocks or funds to buy. This quick guide is a great place to start. Before you know it, your stimulus payment may turn into more than you could have ever imagined.
Pay Off Debt
Debt is something many of us have. Whether you’re paying off student loans, credit card bills, a car, or even a home mortgage, most of us can relate to the struggle of feeling like that debt will never go away. But it doesn’t have to be this way. With smart savings strategies, you can slowly knock down your debt once and for all — and the stimulus check is a perfect way to get started. Instead of treating yourself to the latest smartphone or handbag, consider taking at least 75% of your payment and throwing it straight towards your debt with the highest interest rate.
Save for the Future
The future may feel so far away that it’s hard to stomach the thought of putting money away — especially money you may not use for five, 10, or even 15 years! Sure, that cheap weekend flight to the Bahamas sounds a lot more fun than putting your stimulus check into your savings account. But in the long run, it makes a lot more sense to save for the future. You never know what may happen — positive or negative — so it’s best to be prepared.
The first step is creating an emergency savings fund with at least six months of living expenses. Whether you’re just starting out or need a little bit more cash to reach your goal, putting your stimulus payment away is a smart idea. If you’ve covered your emergency savings, you should consider stashing your check somewhere else, such as in the stock market, a high-interest savings account, or another long-term fund. Whatever you choose, resist the urge to spend it now and instead save it for later.
Invest in Yourself
The best way to spend your stimulus check is by investing in yourself. That way, the payment will last longer than your wildest dreams. Maybe you’d like to take an online course or buy a few career books. Or, even better, perhaps you’re dreaming of launching your own business, and now with the stimulus check, you have the start-up capital to get it started!
If you’re tired of the never-ending 9-to-5 hustle, which leaves you little to no time for yourself, your family and friends, and your passions, then you should fund your future in a different way: Start your own business using the Arise® Platform. If you enjoy talking to people and solving problems, this opportunity to invest in yourself is perfect.
The Arise® Platform is right for anyone who wants to be their own boss. It’s the key to earning money from the convenience of your own home, making your own hours, and enjoying a flexible schedule by providing customer service and support. In other words, you’ll operate your own customer support business, and by registering to use the Arise® Platform, you’ll have the chance to sign up to service the clients that fit your schedule the best.
The Arise® Platform provides the clients, you provide the service. The best part? You get to work from home the whole time. Client opportunities include:
- Home Improvement Supplier
- Grocery Delivery
- Cable and Internet Provider
- Cruise Lines
- Roadside Assistance
- Major Theme Parks
- Sporting Goods Provider
Don’t let your stimulus check vanish as quickly as it appeared! By registering to use the Arise® Platform or investing it in another way, like paying off debt or getting into the stock market, you can rest easy knowing you made a sound financial decision.