When that refund stimulus gets to you (or maybe you’ve already got it!) you might not know what to do with it. After all, it’s a lot of money. It would be easy to just blow it on something fun like a tattoo or a new video games console, right? Well, maybe hold off on that.
Our recommendation is that you reinvest that money somehow. Whether that’s in yourself, your home or just in stocks is up to you. Stock prices are very low right now, essentially “on sale” due to the effects of the pandemic. Now could be a great time to buy in low, and then sell the stocks back off when things get back to normal.
Another option could be to reinvest the money in your home. Maybe there are older appliances you could replace. Maybe you could finally finish up that kitchen remodel you’ve been thinking about! Or, if you really wanted to, you could simply put the money back in a savings account and hang on to it for a rainy day.