How to Maximize Your $ 600 Stimulus Check


If you’ve noticed something in your bank account lately – like an extra $ 600 stimulus check that was out of order – you may be wondering: what’s the best way to do this? to use this exam and are there any conditions?

Should you spend it all on hand sanitizer, masks, takeaway food, and heated bidets? Windfalls like this are not very common, so it is a good thing that you ask these questions. And the answer is yes – there are Ways To Get The Most From Your $ 600 Stimulus Check.

It all depends on your specific financial needs and what would make the biggest difference to you. Here are some of the smartest ways to use your stimulus check.

Pay off overdue bills

When your bills are overdue the first thing you need to do is go right back up. The most important bills to pay off are the ones you need to stay protected. Your housing benefit payment is an important part of this. And right now there is a moratorium on many evictions and foreclosures.

If the security of your home is not currently at risk, you can still pay unprotected bills like electricity, heat, and water.

While paying back overdue bills will help get the creditors off your back, there’s another big reason you should do it first. Your creditworthiness will be affected if creditors mark your account as past due and this information remains on your report for up to seven years. The damage caused by late payment also depends How It’s late so the sooner you cash it out, the less you will have to overcome later.

If you are unable to pay all of your bills with your stimulus check (which is entirely possible if you are behind on your rent, for example), it is important to speak to your landlord or mortgage lender and establish a repayment plan create. You can also use local support services which you can find at

Start an emergency fund

If you don’t already have a fully funded emergency fund (usually defined as three to six months’ worth of spending), or if your emergency fund has taken a minor blow recently, now may be a good time to reclaim it up.

We don’t yet know how bad the pandemic will actually get. At the moment the light seems to be at the end of the tunnel and the vaccinations are slowly rolling out. One thing is certain, however: this will affect us Yearsand so it is best to prepare now if you can.

Take care of any repairs or healthcare that you have postponed

In troubled times, it’s easy to put off things like changing your car’s oil, replacing filters in your house, or looking at that weird mole on your back. If these little things are not activated, they can become bigger problems later on.

If you have all the up-to-date on your bills and your emergency fund is in tip-top shape, the next thing you should do is get repairs done. This includes things you own like your home or car, but also health visits for you and your family.

Pay off high interest debt

Some finance gurus seem to believe that high yield debt is an emergency situation. And while it can be (if your debt payments are higher than your income, for example), for most people it really isn’t.

But that doesn’t mean it’s a good thing. High yield debt is an obstacle preventing you from moving forward on your financial path. So, if you are safe and secure, by quickly cutting off that resistance, you can make faster progress towards your other goals. You can use a debt calculator to see exactly how much it helps, even with a one-time payment of $ 600.

Spend it with local small businesses

There are no conditions attached to your stimulus check. However, once you’ve got everything else covered, it’s a good idea to spend your stimulus check on local, small businesses rather than on an Amazon shopping spree.

After all, the “stimulus” in the “Stimulus Check” is intended to boost the economy in these challenging times. Buying products and services in your community acts as a multiplier effect. Not only does it help you, but it supports the business owner, their employees, and the people they source their materials from.

Consider buying a local business with companies like these:

  • farmers
  • Restaurants
  • Super Market
  • Independent bookstores
  • Microbreweries and distilleries
  • Buy gift cards for businesses that you may not currently be using, such as: B. Hairdressing salons and auto repair shops

If you are financially secure, you can donate the money too. This is a much more effective way to use your momentum as many places fail to see the resources they need to do their important work in the moment. You can donate to any charity, but it’s also an especially good time to consider local COVID relief organizations.

When you donate your money, you may not benefit directly from it they per se, but it will have a positive impact on your community. When we all come out stronger afterward, we can rely on our fellowship when we need help too.

What if I haven’t received my check yet?

The final $ 600 incentive was officially paid out on January 4, 2021. If you haven’t seen the money in the form of a direct deposit or a paper check, it could be for one of the following reasons:

  • You recently switched banks
  • You recently moved to a new home
  • You are not eligible for payment because you earned too much in 2019

You can use the IRS Get My Payment tool to see where your payment is, if you are eligible for one. If you haven’t received a stimulus check for the first two reasons (moving or banking relocation), you can request proof of payment on the IRS website.

You may also need to claim your business stimulus payment as a tax credit when filing your 2020 tax return. This means that you will still receive the money, but unfortunately not immediately.

After all, not everyone is entitled to payment. In order to qualify, you cannot be claimed as dependent on anyone else. You must also stay below certain income thresholds as stated on your 2019 tax return. As you earn more, your payment amount will be reduced until it eventually tapers. At a certain point, you are not entitled to any payment.

Registration statusYou qualify for the full $ 600 incentive if you have less than …You qualify for a reduced stimulus if you are between …You don’t qualify for an incentive if you earn more than …
single$ 75,000$ 75,001 to $ 86,999$ 87,000
Head of household$ 112,500$ 112,501 to $ 124,499$ 124,500
Married filing together$ 150,000$ 150,001 to $ 173,999$ 174,000


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