MONEY MATTERS: How to spend your stimulus money
COLUMBIA, S.C. (WIS) - If you’re working and up to date on your monthly expenses and perhaps the pandemic hasn’t been quite as devastating for you, how should you spend your stimulus check?
Josh Bradley of Capital City Financial Partners says pay off any high interest debt you might have, build up your emergency fund, and invest it. High interest debt can include credit cards and car loans. Bradley suggests holding off on student loans.
“The one cautionary tale I would say there is if you have some excessive student loans you may not want to pay those off just yet because there is talk of potential student loan forgiveness so focus on the credit cards and things like that,” Bradley said.
This week Bradley also details the benefits of not having to pay taxes on your stimulus money and ways to grow that money through credits and investments.
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