Your stimulus money may be on its way, but what should you do with it? Here are several things to consider with your stimulus money.
7 Ideas on Where to Spend Your Stimulus Money
Like it or not, you are getting a government check—most of you, anyhow. For some, this check will be a God-send. There are many Americans struggling with building debts and bills that won’t go away.
Last I checked, true unemployment was right around 14% and that is no laughing matter. This virus is hardly through with us and that is a big deal.
We will see more unemployment, and we are likely headed for a further economic slowdown. This will have wide-reaching consequences on us all.
If you are reading all this and have some financial security at this point, you might be wondering, “what should I do with this money and as a smart prepper how should I use it?”
1. Save It
This is step one and while it might not be as cool as buying more ammo, or something to that effect, you will have money in the bank to use later! That is a big benefit because we are likely going to see some interesting times ahead.
Money might be the very best thing you can do to pad yourself for the uncertainty of the future!
2. Pay Off Debt
Saving money might be one of the best uses for your extra money, but you might also find that paying off debt will suit you better.
Debt is a monster, and it just doesn’t go away! It’s a chain that holds you down, and one of the best preparedness steps you can take will be to pay down debt. Now you have access to more money on a month-to-month basis! That money can go towards preps.
As we speak, there are many parts of the food supply chain that are going through convulsions. These could be short term, but the betting money is on some long-term issues with our food system and even longer-term with the world’s food supplies.
Now is the time to bucket up food and store it for the long term. Be ready!
These are all great foods that store well and can be great for you to invest in for a long-term food shortage situation.
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You might also want to invest in some perennials plants so that you can have food coming up year over year. There are tons of plants, bushes, and trees that can be planted in the ground and will return year over year!
Here are some great perennials that deserve a place in your yard.
- Elderberry Bush
- Egyptian Walking Onions
5. Expand Freezer Capacity
Meat has been and will be an issue as we go forward into 2020. We have seen Tyson and Smithfield close processing plants due to this pandemic, and it cannot be over. There will be other issues to come. For us, it will be about preparing a space for all of this.
A chest freezer might be exactly what you need to store more frozen meats so that you are ready when those supermarkets are empty and things get squirrely.
These can be had for a few hundred dollars and will make your frozen food capacity expand exponentially. Just be sure you have a backup power solution to help your project along.
This will be very important. If your power goes out with a chest freezer, you stand to lose a serious investment in meat.
6. HAM Radio
Are you interested in emergency communications? Nothing beats the HAM radio. HAM operators are called upon in times of disaster, by the state, because their communications are exceptional.
When power is out and phone lines are compromised, the HAM operators get their mission through.
That is an impressive means of communication and one that we should all consider adding to our preparedness arsenal.
7. Home Security Upgrades
Whether you are hungry for things like reinforced locks, floodlights or cameras, you can make those things happen with a little cache of extra money. We are not at a point where the enemies are at the gates, but you don’t wanna wait until that moment either!
Take a walk around your home and assess your security needs. What could really make a difference for you? Is security where your investment should be made?
Be Smart About It
Perhaps you already have some ideas for what you need. You could always invest your stimulus money in the stock market! Just kidding.
We cannot be sure how long this crisis will last or who it will affect. Because of that, we must be very careful about what we do with our money.
If you are one of the people who are getting this money and it’s serving as a bit of a bonus, well, you have some decisions to make.
Use some strategy and make the most of it!