Tips on how to spend your stimulus check

Bola Sokunbi, CEO and founder of Clever Girl Finance, shares her tips on how to manage your stimulus checks.
2:27 | 04/17/20

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Transcript for Tips on how to spend your stimulus check
The stimulus checks have started to appear in bank accounts all over the country and more are scheduled to arrive in mailboxes in the weeks to come. So how should you spend that monitored give us some great tips is the CEO and founder of clever girl finance bola show come B and bullet thanks trip. Being with us today in before we spend many think tell us what everyone who is receiving stimulus payments what should they do first. Yes the first thing you want to do is pretty ink on to stretch your dollar does. And you can start by assessing what essentials meat and also what core bills he needs it he again by this month. And eager finding that money is not quite enough to cover all your bills. The deathly wanted to be Tutsi or nurse your service providers and let them know that you need some assistance are what are your top. Priorities for where this money should go. They are parodies are your core essentials that served food. Your house clean your core utilities and water and electricity heat and also any medicines that yeah. And you want to keep in mind that their goal is to stretch your dollars as far as possible so it came you knew that can usage from the brand name to generics and what restaurant thing that you can do without to stressed that check as far as possible. -- to start asking yourself some questions that maybe you hadn't had to in the past. Another question people have should the stimulus payment be used to pay off any of your debt. Well there are questions you don't already have it funded emergency seating them priests which is basically three to six months or more basically in this sense also includes pounds seems. Corner until he's menacing than you want to focus on getting that Annette and can use that we must act to support act. Literary critic decreased at an emergency C beings and it is a good idea to use that stimulus check to pay down. The on deck starting their highest. NASDAQ and that makes a lot of sense noble if someone is fortune out there right now to still be getting an in com. And they happen to be debt free is well what do you recommend they do with money. Well because of the time or any time of uncertainty. I would highly recommend that you start out by first assessing murmured -- Lucy -- yes the typical stunt it is three to six months but there's nothing wrong with having more money criticized by the more you can say the better polish economy thank you so much feared timing your expertise today. Anke you.

This transcript has been automatically generated and may not be 100% accurate.

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