How to Spend Your Stimulus Check | 7 Ways to Optimize Your Stimulus Money

Trying to figure out how to spend your stimulus check to optimize the stimulus money? I’ve got 7 ideas that I think will help you protect yourself and get ahead, no matter where you’re starting from. Subscribe for money-saving tips and frugal personal strategies every week. And please, stay safe and stay home! If you’re searching for how to spend your stimulus check, you’re in one of two boats You’ve got so many financial obligations you’re not sure what to prioritize You’re not suffering but you want to know the best way to optimize your stimulus money No matter which boat you’re sailing you’re gonna get your answer in this video. So what’s the deal with this stimulus check? American adults who filed a 2018 or 2019 tax return will get up to $1200 each plus $500 per child under the age of 17 Income limitations do apply The stimulus money is tax-free, you won’t owe income taxes on it next year nor will it impact your tax return If you have any other questions about the stimulus check, let me know in the comments. IRS page discussing the requirement to file: https://www.irs.gov/newsroom/economic... IRS page on coronavirus: https://www.irs.gov/coronavirus Massive Google Doc with financial resources for those impacted by coronavirus: https://www.themoneymanual.com/corona... Now the big question, When you get it how should you spend your stimulus money. There’s an order of operations with seven steps to go down, and where you fall will determine where your money is best spent. Step 1: 03:40 Step 2: 04:54 Step 3: 07:36 Step 4: 08:44 Step 5: 10:58 Step 6: 11:51 Step 7: 13:22 Coming up I’m going to be posting videos about how to save money and spend less now so you can improve your finances in the future so if you want more info like that subscribe, I’ll be putting out a few videos a week until we’re all back on our feet. Take my free 7-Day No-Spend Challenge: https://www.modernfrugality.com/chall... Hang out with me on Instagram:   / modernfrugality   DISCLAIMER: This video is for educational purposes only. I am not a financial advisor. In order to make the best financial decision for you and your family, you still need to conduct your own research and seek the advice of a licensed professional if necessary. Know that all investments involve some form of risk and there is no guarantee that you will be successful in making, saving, or investing money; nor is there any guarantee that you won't experience any loss when investing. Don’t make any decisions without doing your own research! AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my personal opinions. #stimuluscheck #stimulusmoney #stimuluspayment