Do you bank your $900 Stimulus Payment?
With the money set to flow to citizens in terms of the $900 stimulus bonus, should you be putting the cash injection straight into the bank or should you race out and buy something with the cash?
Well, the government would like you to go out and buy, buy, buy – because that will naturally stimulate the economy. Businesses will get an influx of cash, which in turn will help the overall system get back into growth / spend mode.
Plenty of businesses are offering specials and sales, trying to entice you to spend the bonus. Travel companies and airlines for example are offering super cheap deals to corner the stimulus market.
However, honestly – the smart people will pop the money straight into their bank savings, mortgage or even credit card. This way you immediately reduce your personal debt and you set yourself up much better for the future.
So try and think long term, as that savings money will really help you down the line!
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