5 Things I'm Doing With My $1,200
Updated: Apr 19, 2020
Many of us have already received the $1,200 stimulus check from the government.
What are we to do with all of this money *blank stare*.
Fashionova, Boohoo, and Shein have already started hitting my text and email up with all of their “great deals”, but where I am going to wear these clothes? My living room?
Instead of doing a bunch of online shopping for clothes, here are a couple of things I decided to do with my check.
1. Savings – Building your savings is always a good look. You never know when uncertain times (like now) will happen and you want to be prepared as much as possible. I’m even thinking about starting a home savings account, car savings account and travel savings account. It doesn’t have to a lot going in there every month, but it’s better than nothing and scrambling trying to figure out where the money is going to come from last minute. Ally actually have FREE savings accounts. It is an online-only bank, but you can transfer or use Zelle to put a deposit or withdraw your funds.
2. Pay down debt – Now this is what I SHOULD do, but it’s ONLY $1,200. It won’t make THAT much of a difference. I know, I shouldn’t think that way. I recently paid off all my credit cards totaling over $10k (judge ya momma). But maybe you would be more responsible than me!
3. Slight Splurge – Oh, Donnie is about to pay for this mani, pedi, wax, facial, hair and an expensive meal when all is this is over. I haven’t figured out the restaurant yet, but baby it’s about to be lit lol
4. Invest – Why not invest in myself?! I signed up for a couple of courses that would increase my learning and help me grow as a business owner. You never know too much and times are always changing. For example, I know my niche, my audience, and the products I want to create and launch, but I have no idea how to properly market them. Outsourcing or learning the ropes can always work in your favor.
5. Stocks – Now I’m new to the stock game. I recently signed up for Robinhood. It is a commission-free stock app that gives you FREE STOCK (click for over 400 choices) when you sign up. They also give you FREE STOCK when you refer to people. Check it out and let me know your thoughts. Let’s make money together! Remember, stocks are a long-term investment. Let your money sit there and build for a couple of years.
Stocks are at an all-time low because of Rona. This is the best time to buy because once outside opens back up, the stocks will skyrocket back to its normal price. Yesterday the orange guy announced plans to slowly open outside up. GM and Ford announced they are going to start production in ventilators that will help treat terminally ill patients and will deliver the first batch at the end of the month, Boeing announced it will start production again in Washington soon. So many announcements have been happening lately that are affecting the market. Most of these announcements are just from the last 24 hours and let’s just say I’m having a good stock day lol. Truthful I never knew about anything going on in the world until I started paying attention to the stocks. I guess this helping me be more knowledgeable in the things going on around me instead of my little bubble.
If you are fortunate enough to use these funds how you please, what do you plan to do with them?