When you receive your stimulus check, it’s easy to want to spend your money on immediate expenses. But there might be a better way to prolong the benefits of receiving federal financial aid.
What can you spend your stimulus on so that you can take the greatest advantage of your temporary financial relief? Here are 3 ways you can spend your stimulus check in order to make the most of your money.
- Find Profitable Hobbies
If you want to increase your income security, one way you can do that is to take on a hobby that you can profit from. If you already commit to doing an activity in your free time, why not make a profit from it?
Whether you like to design digital art, bake homemade desserts, or restore thrifted furniture you can sell the products you make through your hobby. You might even want to spend a portion of your stimulus payment on supplies so that you can have enough inventory to make some extra change.
- Get Certified
Are you wanting to qualify for a promotion at work? There are affordable certification programs that could permanently amp up your paycheck. Increasing your employable skills gives you a leg up on other applicants and better standing with your boss when asking for a raise or promotion.
You could even use an online resource such as Coursera in order to be professionally certified. From data science to arts and humanities, there are plenty of courses to choose from to help you get ahead.
- Invest in Side Incomes
Do you already have a part-time job that makes you extra money? You can use your stimulus money to invest in your small business so that you can pursue your passion at a more advanced level.
If you’re struggling to pay for the equipment necessary for your work, you can use your check to purchase items that will grow your business. You could also use the money to pay your essential expenses for a limited time so that you can invest your time and attention into your side business.