With many Americans receiving a second stimulus check as part of the most recent COVID-19 relief measure passed by Congress, WOKV’s Consumer Warrior Clark Howard is sharing the best way to spend that cash.
Howard recommends putting that money to work in a productive way.
“I want you to use it to pay down debt. You have Christmas spending you did? Use it to pay that off,” says Howard.
If debt is not an issue for you, Howard recommends putting the money aside for retirement.
“You don’t have a Roth IRA? Take the $600, open a Roth. You can build tax-free money for your future,” Howard says.
Overall, he advises against using the money for fun.