What EVERYONE Should Do With Their STIMULUS MONEY NOW | How We’re Spending Our $2,400 Stimulus Check

How to get the most out of your stimulus check. How we’re using our stimulus check - update April 20th 4/20/2020. What's the best thing you can do to set yourself up for the future?

IRS Economic Impact Payments Website:
https://www.irs.gov/coronavirus/economic-impact-payments
IRS Get my Payment FAQ:
https://www.irs.gov/coronavirus/get-my-payment-frequently-asked-questions

• Our Budget Template (free): http://www.mikeandbrit.com/budget
• Our Debt Payoff Organizer: https://www.mikeandbrit.com/debt-organizer
• Our Robinhood Invite Code (grab a free stock): https://join.robinhood.com/michaem27270
•Gear We Use for Our YouTube Videos: https://www.amazon.com/shop/mikethemathman?listId=2F90KJ814LCXF
•Instagram: https://www.instagram.com/itsmikeandbrit

We're talking about things we did over the last 8 years that have put us in a very peaceful financial position.

1) Make sure your basic needs are covered RIGHT NOW and into the immediate short term future: Food, Water/utilities, Shelter, Clothing, Gasoline, etc.

2) Create/add to an emergency fund with anything left. Most emergency funds are 3-6 months of expenses. Ours is 6 months. More than likely $1,200 won’t cover all of that, but even a $1,000 rainy day fund is better than nothing. The more money you have between you and life, the better. If you’ve never been much of a saver or have had good spending habits, this money is a great starting place. Dave Ramsey recommends a starter fund of $1,000 if you’re paying off consumer debt. I personally think a starter fund of one month of expenses is a lot safer, especially right now.

Based on the statistics, this is where I think most people are going to be and what most people’s CARES money is going to cover. The next steps are for those who have more flexibility.

3) Look at paying down/paying off small debts you may have. Credit cards, back payments, etc. Be wise about loan deferment programs. Take advantage of them if you need to, but recognize that they don’t get rid of debt; they just move payments further into the future.

4) Look into investing. A lot of stocks can be bought at a good discount right now. I wouldn’t invest in the stock market with money I’d like to use (or need) in the next few years.

-----------------------------------------------------------------------------------------------------------
~~GEAR I USE~~

Camera 1 - Sony a6300 - https://amzn.to/2IT0sht
Camera 2 - Sony a6500 - https://amzn.to/2ZvONuX

Lenses:
Sony 10-18mm f/4 - https://amzn.to/2DuIMpf
Sony 50mm f/1.8 - https://amzn.to/2Dtob4D
Sigma 16mm f/1.4 - https://amzn.to/2ZpYZW5
Minolta Maxxum 75-300mm f/4.5 - https://amzn.to/2Gw1Cgb

Tripod - Manfrotto 290 Xtra - https://amzn.to/2GEvKYg
Tripod Head - Manfrotto 3-Way Photo Head - https://amzn.to/2IOjNAw

-----------------------------------------------------------------------------------------------------------
Intro Music:
Lakey Inspired - Me 2
https://www.youtube.com/channel/UCOmy8wuTpC95lefU5d1dt2Q

Outro Music Provided by:
YouTube Library - Foundation
----------------------------------------------------------------------------------------------
Legal Disclaimer: Michael Miller is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.

Видео What EVERYONE Should Do With Their STIMULUS MONEY NOW | How We’re Spending Our $2,400 Stimulus Check канала Mike and Brit