8 Good Ways to Use Your Stimulus Check
October 12, 2020 | Peyton Sawyer
So, you've received your stimulus check? That's great news! But you should figure out the best ways to use it. After all, you don't want to blow it, do you? So, let's take a look at the 8 good ways to use your brand-new stimulus check. And, if you find that an emergency depletes your stimulus check and your bank account, title loans can be an option to get you through any emergency.
8 Good Ways to Uses For Your Stimulus Check
1. Pay for Education
Yep, you can use your stimulus check to get educated. If you've been furloughed or you have lost your job, try learning a new skill. It will open up so many opportunities for new career paths!
2. Buy All Necessities
You need money for bills. This isn't new. However, your partner might have lost their job or been hit with a substantial pay cut. If this is the case, your stimulus check will be good for picking up any bills that your income might not cover right now.
3. Pay Off Your Debt
If your necessities are covered and your emergency fund is good enough, you might want to think about paying off any miscellaneous credit card bills. Using your stimulus check for this will considerably reduce the amount you owe and boost your credit score. Just remember, there is no way to get this money back if you do choose to pay off your debt with it. So, be 100% sure this is right for you before you go ahead with the plan.
4. Save For Retirement
The coronavirus pandemic may well have put you behind on paying into your retirement fund. Your stimulus check can help you increase this pot, making you well prepared for the future.
5. Support Small and Local Businesses
Local businesses are struggling during this time of crisis. If your stimulus check has given you disposable income, consider helping these shop owners out. Try purchasing gift cards or 2020 Christmas presents from those little stores. Trust us, it will help them massively.
6. Donate To Those Worse Off Than You
There is an insane number of people who are finding these times financially terrible. Giving back to these people might be the best use of your check. Donate to food banks or give some money to World Central Kitchen. Whatever it is, attempt to give a little.
7. Invest It
Now is a great time to invest. Stock prices are at an all-time low so they are relatively inexpensive to purchase. Obviously, we can't predict how these will fair in the future, but you will likely see a good ROI in the next ten years.
8. Add It To Your Emergency Fund
It might be that your household income is yet to be affected by the COVID-19 pandemic. In which case, you might want to think about popping that stimulus check into an emergency fund. The pros are expecting the economy to get worse, so you should set aside money in preparation for this. An emergency fund should see you through the hard times and ensure you aren’t struggling in a crisis. But what can you do if your emergency fund isn’t enough? Enter title loans Illinois.
How Title Loans Work
A title loan is a short-term loan option type that allows you to leverage the value of your car to secure up to $4,000 in as little as 30 minutes! While there are quite a few benefits to title loans, here are a few of our favorites:
- Quick Money: The application takes only minutes to complete and you can receive your money in a handful of hours if everything goes well. This means no waiting for a lengthy deliberation process.
- You’ll be able to operate your car as normal: You will maintain the keys and right to drive and operate your car as you see fit.
- No credit checks: Your credit score isn’t taken into consideration while we determine your eligibility. In fact, we won’t even look into your credit history.
What Can You Use Title Loans Illinois For?
Essentially, you can use your car title loan for anything, but they’re an option for you in emergencies when all other options fail and you find yourself in a bind for more money.
Obtaining Title Loans Near Me
The process of securing a title loan is easy, thanks to our easy online form that can be filled out in just minutes and you only need to supply a few pieces of information. You’ll need to supply the lien-free title to your car, your driver’s license, and your car for inspection. This can happen in minutes of submitting your online application.
We understand that the need for emergency money doesn’t often come with a long shelf life which is why we’ve streamlined the process to make it easy and straightforward. When your stimulus check isn’t enough, title loans have got your back when you need it most.