While the $1,200 stimulus check will not be enough to sustain families for a long time, experts say that it can be a chance to prioritize.
“Focusing on your health in terms of your physical and your mental health is absolutely paramount. [The check] should be put in savings for if you get sick, because there’s a good chance you can get sick,” Epperson said. “It’s wiring money to family members who get sick and don’t have the resources. That’s what people should be thinking about. There are reports of complications occurring that aren’t covered by insurance, if you even have insurance.
“I don’t think any of this is forever,” said Epperson. “Don’t kid yourself into thinking the government will be caring for you forever and will save you from this terrible crisis. Your debts will still be there.”For those who are fortunate enough to be able to give away their stimulus check, they can give it to a good cause.
“I’ve been hearing questions from a lot of people about whether it’s better to give to a charity or better to step up and help pay the rent of a friend who can’t pay theirs this month,” said Chatzky “Both are the right impulses right now. This is a time when we get to see how generous our friends and neighbors are, people we know and people we don’t. That’s one of the nice things that happens in a crisis. You get to see the best of people.
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