Money Moves: What To Do With Your Stimulus Check

Photo by Andrea Piacquadio from Pexels

The Internal Revenue Service (IRS) is sending up to $1,400 stimulus checks to some Americans beginning this month.

The money comes from the 2021 Recovery Plan put in place by Congress after the COVID pandemic.

Some extra cash never hurt, right? What are you going to do with that money? This article is going to discuss some ways to make that money grow over time.

3 Money Moves For Your Stimulus Check Money

You want to be smart with your cash, especially with a slow economy.  Here’s what you should do with that money:

1. Open A Savings Account

One thing you’re going to want to do is open a savings account. You don’t even need to go to a big fancy bank like SunTrust or Wells Fargo.

Honestly, you’ll save money in fees by opening a savings account with an online bank. Some of those are:

2. Start An Emergency Fund

With the extra money you have, it would be a GREAT time to start an emergency fund. The reason why is because you never know when you’ll be in a pinch (like a pandemic).

Try to set aside a portion of your stimulus check and add to it periodically.

3. Invest It

Because you want that money to grow, the best place for that to happen is to invest it.

With very little effort,  money market fund or high-yield savings account could bring you high-margin yields year over year.

Last Words

The “recovery rebate” is not designed to get Americans rich, it’s to get you right. You’re going to have to come up with a budget to make this money work for you.

Interested in other ways to save or make money? Check out our Money Section:

Tee Johnson: Tee Johnson is the Founder and Editor-in-Chief of AtlantaFi.com, Atlanta’s independent hyper-local publication focused on news, restaurants, events, jobs, neighborhoods, and lifestyle. A 15+ year Atlanta resident and longtime journalist and content creator, she covers Travel News, Events, Business, Hair Care, and Money with a practical, Atlanta-first lens. Before launching the site, Johnson worked as a substitute teacher in Atlanta Public Schools and later in corporate roles at Home Depot’s Vinings offices. A marketer by training with a degree in business management, she grew frustrated with the fragmented, hard-to-find information about what was actually happening in the city. That gap led her to create AtlantaFi as a curated, one-stop resource for the pulse of Atlanta—#ATLHAPS—without the national noise. Editorial decisions remain independent; the publication does not accept products, meals, or services in exchange for coverage. As Editor-in-Chief, she oversees original local reporting and curated practical guides that help residents, visitors, and businesses discover and engage with the city. Readers turn to her work for timely event roundups, dining and neighborhood insights, business and travel updates, and straightforward money and lifestyle coverage grounded in firsthand observation of Atlanta. A devoted lover of all things Atlanta, Tee enjoys pickleball, a good margarita or bourbon, and walking the Atlanta Beltline. She can be reached for editorial inquiries at tjohnson@atlantafi.com (serious inquiries only).
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