IF you are relatively untouched financially by the pandemic (and a large number of us have that good luck) you have a choice about what to do with your stimulus check(s). You could:
- Use the money to buy something for yourself, your family, or a friend.
- Save or invest the money
- Use the money to reduce your debt (mortgage, credit card, whatever)
- Donate the money
- Assist local businesses by buying their products or services
Those are certainly all good ways to dispose of the windfall and I'm not going to tell you one is better than the others; only you can make that decision.
I am going to encourage you to consider the last two options.
This pandemic has really hit the service sector hard, and particularly people whose earnings are lower. They've faced reduced hours, pay reductions, and complete loss of their jobs. In many cases they are trying to support a family. Eventually things will improve but while we wait for that they may be scrimping on food and medicines. One big way to help is to make sure they can find the food they need.
Consider making a donation to your local food shelf.
Further, there are those who are homeless, people who can't afford even the basic necessity of shelter during winter. Your donation can help provide them with a place of refuge.
Consider making a donation to your local homeless shelter.
About that choice of patronizing local businesses? It's a good one, too. Many that serve the public have been forced to close in order to slow the spread of the pandemic. They've been asked to make a great sacrifice for the greater good. In other words, they're suffering financial hardship to keep you and your families healthy. At some point those of us they protected will want to show our appreciation, right?
That appreciation can be in the form of our support for programs that will provide small businesses with relief. Yes, I know, that will mean raising our taxes, but don't small businesses deserve compensation for the sacrifices they're making on our behalf? I think it's safe to say keeping small businesses alive is a good thing. While we wait for those compensation programs to materialize:
Consider patronizing your local small businesses.
Sure, a new telescope or other piece of gear would be nice, but these are hard times for a lot of people. Pitch in and maybe more of us can make it to a better place together.
