How to Invest Your Covid 19 Stimulus Check in Oklahoma
How to Invest Your COVID-19 Stimulus Check in Oklahoma
The Corona Virus has completely changed our economy, we are now getting money from the government to help keep the United States economy afloat. The question is, what are you going to do with this money? You will naturally want to go spend it, but what if I told you there are smarter ways to spend your stimulus check. Here are several ways you can invest your COVID-19 stimulus check.
1. Use it to live
Before you invest, you need to evaluate where you are in life, If you are currently in need of groceries, please, use this money to buy food. Do you need essential things like toothpaste, shampoo, or toilet paper, please use that money to buy them. What you don't need to be buying are things like cigarettes and booze. If you need the money to live, please take care of yourself.
2. Pay down your debts
Just like step one, you need to sit down and check your financial situation. If you currently have several bills stacked up, pay them down. This is probably the best thing you can invest in if you have debt under your name. Clear your name and get a clean state before heading into any other ventures.
3. Support local businesses
Local businesses are taking a big hit at the moment and could really use your support. National businesses like Walmart and Target won't really get affected by the pandemic, they will most likely survive, small businesses on the other hand, probably not. Just this past week, three of my favorite restaurants announced on twitter they will be shutting down, which sucks. Keep your local businesses in mind and please support them through these tough times
Now this one may seem weird, especially with the virus going around but right now, plane tickets are very cheap. Use this opportunity to buy them cheap and schedule a flight later! If the Corona Virus is still out of control, you will still be allowed to cancel your flight if your scheduled time is still affected by the virus. I actually scheduled a plane ticket for London in September for little to nothing. The same goes for hotel rooms, they currently have no business going on right so prices are at an all-time low at the moment.
5. Buy a house
Depending on your financial situation, credit scores, debt, income. You can use this money to put a downpayment in a house in Oklahoma. Their several programs out there to help you out if you need a bit more money but for the most part, $1,200 is good enough to get you started when purchasing a house. if you need help you can always ask us and if your college student looking for a home near OU, check out our homes for sale in Norman OK page.