What to Do With Your Second Stimulus Check
The rhetoric changes almost daily. Will there be more stimulus or won't there? Per the typical progression, the issue has become politicized between the two parties. While it seems to be agreed upon that further economic stimulus will be needed, the conflict is over the scale and focus of that money. President Trump has expressed a desire for a second stimulus check to be included in further stimulus legislation. One proposal recently put forth by a part of Congress called for two further direct stimulus payments pending economic developments.
Given that you're reading The Motley Fool, one could guess that your first instinct is to invest any further stimulus checks. It sure is tempting, but there are a few things one should check off the list before tossing cash into the stock market.
A great deal of stimulus and increased unemployment benefits were employed this year to counter the effects of the economic shutdown on business and labor. Still, the unemployment rate has not recovered to pre-COVID levels. If you're one of the unlucky souls who has suffered through tough times, another stimulus check could be a great opportunity to clear up any credit card debts that may have been accumulated during layoffs.
Source Fool.com
