If you met the criteria from the government to receive a stimulus check, you may be excited for the extra cash flow but also unsure of what to do with the money. If you’re in need of some ideas outside of “treating yourself” we have 7 for you! 


Here’s a list of things you can do with your stimulus check:

  1. Pay for current bills – nothing feels better than paying bills and having money leftover. Use the money you receive from the stimulus check to get up to date and pay off those nagging bills. Anything from electric, gas, water, rent, or cell phone bills. 
  2. Pay off medical debt – Bills from doctor’s visits and medical procedures can build up quickly. If you’ve exhausted all your options of delayed payments and payment plans, take this extra money and put it towards this debt before it’s sent to collections.
  3. Pay off credit card debt – Credit card debt has some of the highest APR interest rates out there. It’s important to get it taken care of and paid off as soon as possible so you’re not paying an upwards of a 25% interest rate on items you purchased previously. Plus, if you get your credit utilization lower, you’re likely to increase your credit score. 
  4. Invest – the best place for “extra” money is investing for a higher return. Maybe you can put a little extra into your 401k or IRA to invest in a few companies. 
  5. Pay for college – college has become pricier as the years go by. Even with scholarships, it can be a challenge to pay for all the necessities (rent, food, textbooks). Use the stimulus to get the things you need!
  6. Get ahead on your car payment – If you’re making payments on your car, you’re most likely accruing interest, albeit at a low rate. If you have the extra money, why not put it towards the principal amount due on your car and pay off the car quicker. 
  7. Donate – if you find yourself in a position where you have extra to give, donate it! You don’t have to directly provide money to an organization, you can go to the store and get some food to take to the food pantry or local soup kitchen. You can buy some extra clothes or school supplies for those less fortunate that may not be able to afford them. 


Regardless of what you decide to do with your money, Citrine Capital would love to help if you have future structured settlement or annuity payments. If the stimulus money isn’t enough, we can certainly help you access your cash now! 

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