ATLANTA — Now that President Biden has signed the new stimulus package into law, many of you will be getting money soon.
WSB-TV Atlanta’s Channel 2 consumer adviser Clark Howard explains what you should do with the money.
Howard said that most people act like the money is for them to go have a good time and just go out and spend it on stuff. But the reality is, the purpose of the money is to help you in your overall financial picture. It may be fine to go out and spend it on stuff, but Howard, and his admittedly “dullsville” view, recommends that people should use it toward paying off debts or put it toward a rainy-day account.
And Howard said if you don’t have a fully funded retirement account, or you haven’t even started one, put the money in that.
It’s not as exciting as burning the money in some store on stuff but Howard said for your future financial security, “dullsville” pays.
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