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Did You Receive a Stimulus Check? If So, Read On to Learn Ways to Wisely Spend It

Posted on Jul 08, 2020

Sometimes in life, due to various circumstances, we may find we have extra funds in our bank account. Perhaps you ended up with extra money due to a stimulus check. In America, some people have received $1,200, with some families receiving more, depending on how many children are in the family. This advice may also be helpful in the future, if you receive additional stimulus payments or other unexpected financial windfalls.

If you still have extra money in your account, our firm recommends you read the following article which discusses wise ways to spend an extra $1,000.

https://money.usnews.com/money/personal-finance/spending/articles/smart-ways-to-spend-1000

Excerpt:

Of course, you may have burned through that stimulus check some time ago. However, if you're still waiting for it – or have some of it left in your bank account and are trying to figure out what to do with it – or you have cobbled together some extra money from other sources – here are some ideas on how you might want to use an extra $1,000.

  • Spend the money.
  • Pay down credit card debt.
  • Pay down student loan debt.
  • Contribute to your 401(k), Roth IRA or other retirement account.
  • Make home repairs.
  • Invest in yourself.
  • Open a 529 account.
  • Refinance your home.
  • Put money aside for back-to-school shopping or the holidays.
  • Pad or create an emergency fund.

 

Visit the link above to read the article in full.

The Consumer Law Group, P.C., the law firm of Attorney John Cole Gayle, Jr., specializes in many areas of consumer law, including Debt Settlement, the Virginia Lemon Law, The Fair Credit Reporting Act (FCRA), the Fair Debt Collections Practices Act (FDCPA), Auto Fraud, Breach of Contract, and Breach of Warranty.

Please free to contact our firm by calling us at 804-282-7900 to see if we can help with your situation.

 

John Cole Gayle, Jr.
Consumer Law Pioneer and Co-Author of Virginia's Lemon Law