Financial adviser suggests smart ways to make stimulus checks last

Financial adviser suggests smart ways to make stimulus checks last

By Brittany Sweeney

April 27, 2020

Stimulus checks are popping up in mailboxes and bank accounts across the Lehigh Valley. Although some may be tempted to splurge — WLVR’s Brittany Sweeney spoke to a financial expert about smart ways to make it last.

Berks County financial advisor Nehemiah Lindo says the best thing to do is save your stimulus money.

The Primerica employee suggests a high-interest account that pays you over 1%.

He also suggests searching for a bank online or using a credit union.

With no set date as to when the pandemic will subside and things will return to normal, Lindo also recommends using that money for essentials, like paying bills and staying healthy.

“Taking care of your immune system and of course…putting food on the table. I believe that’s number one and also keeping your light bill on and just making sure that, you know, you have a good foundation for your house during these times since we are in quarantine,” said Lindo.

Lindo says putting that money towards training and career opportunities is another smart way to use the extra income.

For those whose income has not been affected, he suggests investing in retirement with something like a Roth IRA.