Yesterday, we worked on our Mental Health. Today, it’s all about our Financial Health. I checked in with BB&T At Work Financial Wellness Consultant (and my BFF), Keesha. She offered up some advice on what you can do with your stimulus check to help stimulate your bank account! Check it out…
Could your payment from the COVID-19 Stimulus Package be your opportunity to position yourself to become financially healthier? In a time where finances are tight for many people, if you are still gainfully employed and/or financially sound, here’s a few tips that may be a good way to make that stimulus money work for you!
1. Start an Emergency Savings Account. Its safe to have at least 3-4 months worth of savings at your dispose in the case of an Emergency. It’s better to have it and not need it than to need it and not have it!
2. Invest a little. Look into investing in the Stock Market. During uncertain times, the Stock Market typically will react the same and in turn Stock prices can drop tremendously. This is a great time to capitalized one those opportunities and invest. Start investing in small increments and work your way up. There are a lot of great online apps that are great for beginner investors.
3. Start a new business. Do you have a hobby or a talent that has the potential to be lucrative? Use those funds to start up a business that will be an additional stream of income.