(WXYZ) — The latest round of stimulus checks is already showing up in bank accounts, but before you start shopping, there are some things you should do first.
Kiplinger Personal Finance suggests there are three things you should do first.
– Pay off high-interest debt, such as credit cards
– Shore up your emergency fund so you are prepared for the next downturn
– Put some in a 529 College Fund for the kids, or for your
Some critics say all this stimulus money will help certain retailers make even more money, while local stores struggle.
Kiplinger's final tip: Support local businesses near you, from boutiques to family-owned restaurants.
Experts say to spend a bit, but pay down any bills you owe first. it's not as fun, but that way, you don't waste your money.
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