5 Money Moves to make if you receive a stimulus check.

We all know that the entire world is in a chaotic period and crisis. People are worried and scared and petrified of what to expect next since jobs have been on hold, businesses are in a shut down period. Is it business as usual, this is the time where consumers and small business owners have to be more conscious with their finances and money management strategies to survive this period of uncertainty.

Money if spent properly can provide the necessities that we all need and also provide peace of mind knowing that you have planned for life's uncertainties.

The US Senate has proposed a $2 trillion stimulus package to help the economy; almost everyone will benefit from this initiative based on data updated in the media.

Under the latest proposal adults would receive a check for $1200 or $2400 if filed jointly and a $600 proposed for individual filers with little or no tax liability. Under the proposed bill each family could see themselves getting an additional check of $500 for each qualifying child.

It is imperative that consumers pay specific attention to what is considered qualifying as there will be requirements or some basis on which payments will be dispersed.

If you are one of the lucky or fortunate ones to receive this check here's a few things you can do with this income;

1. If you are short on cash you can use this money to pay your rent/mortgage. Rent and mortgage is usually the highest bill in the household along with groceries following next in line. It may not cover some peoples full rent or mortgage but it can help during this time. Being able to purchase food for your loved ones is always a great feeling. Food is a necessity so buy what you need.

2. Monthly expenses which includes utilities, car notes, insurance premiums, phone bills etc could also be covered for a few months with this money. Many people will have to turn to deferring their expenses until they begin to work full-time again or those who lost their jobs will have to wait until they pick up another form of employment to cover monthly expenses.

3. Most Americans have unpaid credit card bill that is due, over due or racking up high interest rates. If you can and have already covered your other expenses paying down some of these credit card bills will be beneficial to you and your wallet in the long run. Remember even if a bill is deferred it doesn't mean it is still not due and needs to be paid.

4. The next thing that you can do with your impending stimulus check is to beef up or start and investment fund. Now than any other time is the time to begin to learn about the market, finances and getting proper financial education. You will never know when life uncertainty will happen and life emergencies like these will occur and if you are not properly prepared and can provide for yourself or family in times like these then you will encounter problems in the future. Imagine the government had no bailouts, what next. You will suffer and so will your children.

5. It's never too late to invest in yourself and learn a new skill or trade. Even with the Corona virus and social distancing in effect worldwide there is always online learning.

You have so many courses or books to your disposal that you can read and skills you can develop for less than $300.

You may think why invest in a course or something educational now when I am not sure where money will come from? However; consider this; Do you plan on staying in the same position that you are now? Will this virus last forever and also after the virus whats next? There will be skills and skill sets, business ideas and new entrepreneurs who will be needed to pump up the economy. At this very moment an online business or resource is what is required, as this virus has showed us that even though we are apart from each other that the world must go on. Workers were still needed, children who are at home need their parents to be with them during this time and before the virus it was more distance and less family time than ever.

I must honestly say that a panic or crisis doesn't mean that we should give up and have no faith in ourselves or those who lead. However; we have to have faith in the creator that in time of panic there is also opportunity. You wake up every day and have a choice or free will to do or not to do. Every day you are in a constant battle as to what you should do with money, what to buy, what to invest in and the choices can be overwhelming.

You live in a consumer driven economy so the decision is always left up to you. Begin to see beyond your today and find ways to build wealth for the future.