What Should You Do with Your Third Stimulus Check?

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What does one do with 1,400 big ones burning a hole in their pocket?

As of yesterday, a large chunk of eligible US citizens have received their third stimulus check from the IRS, courtesy of the recently-signed America Rescue Plan. This is the biggest payment we’ve received yet, with $1,400 rounding out the previous check’s $600, plus more for those with children and/or dependents. But as was the case with the previous checks (though perhaps less so the second one), the obvious question once again rears its head: what do you do with it?

While I wouldn’t be bold enough to assume that everyone’s in the best possible shape right now, things have definitely stabilized at least a little bit since this time last year. For example, in March of 2020, the uncertainty of the pandemic had the stock market in a nosedive, which made the notion of investing somewhat risky. Nowadays, things are much smoother, so if you have the know-how or some reputable advice, it might be a good time to start investing in earnest.

Since we’ve all been stuck at home for the past year, there’s a distinct possibility that some of your appliances and utilities have worn out a bit, assuming they weren’t already like that beforehand. If there’s something in your home that’s on its last legs, whether it be a kitchen appliance, a desk chair, or even just your favorite pair of slippers, use some of that money for some updates. After all, we’ve definitely got at least a few more months of this to put up with, so they may as well be comfortable.

But of course, these uses and investments are predicated on the assumption that all of your general needs are currently being met. Unemployment levels are still in the US, after all. If your livelihood has been impacted by the pandemic, the entirety of the check is best utilized toward important expenses and utilities like rent, insurance, groceries, and so on. I’ll be the first to admit that $1,400 isn’t much toward things like rent payments, but hey, any amount you don’t have to pay out of your savings is an improvement.

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2 months ago