How to Spend an Economic Stimulus Check in an Economic Recession

Extra money is nice. Deciding what to spend an economic stimulus check on in an economic recession should require some planning. What you spend your economic stimulus check on may depend on how financial secure you are. During economic recession it may be hard to find a job if you become unemployed. Using all your resources wisely in an economic recession or economic crisis will help you be prepared for the unexpected. You may be tempted to spend all your money from an economic stimulus check in an economic recession on fun and games.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Economic Stimulus Check
• Careful thought

1. 
   Pay off Credit Cards

   Paying down debt is a wise way to spend an economic stimulus check in an economic recession. Reducing your debt will reduce the amount of money you have to pay out in interest each month. Credit Card debt usually cost a lot because of very high interest rates.

2. 
   Pay Bills

   Pay your bills. If you are making payments for medical, dental, or other bills, an economic stimulus check could be used to pay these bills off. The fewer bills you have the less stress you will have during an economic crisis.

3. 
   File Your Taxes

   Pay your taxes. If you owe taxes plan on using an an economic stimulus check to pay your taxes.

4. 
   Stock Up on Food

   Buy and stock up on food. Plan a menu of food items your family normal eats in a two week to one month period. Use the menu to make a list of food your family would use for a three month period. Purchase non perishables items that will store for a while. It is wise to use an economic stimulus check to buy and stock up on food during an economic recession.

5. 
   Purchase Clothing for Family

   Purchase clothing and other necessities for your family. Will your children need clothes for school soon? Stock up on items you use regularly such as soap and laundry detergent. In an economic recession use your resources wisely.

6. 
   Budget

   Make a budget. Choose wisely on what to spend your economic stimulus check during an economic crisis. Budgeting money, financial planning, and setting financial goals will help you with personal money management during a economic slow down or recession.

Tips & Warnings

• You may consider saving the money from an economic stimulus check during a economic recession in case you face financial money problems in an economic recession.
• Frugal living is wise during an economic recession.
• Don't spend more than you need to in an economic crisis.
• Cut back on unnecessary expenses such as cable TV, extra phones, and eating out.
• Shop for bargains.