IRS Building

IRS Building

With stimulus checks on their way to many Americans this week, you may be wondering where you should allocate the money.

You should first sit down and prioritize which of your bills are due first, such as utility bills, your rent, or even the amount of money you may need to buy food for your family in the weeks ahead.

You can support local businesses by purchasing gift cards to use at a later date or opting for takeout one night.

The deadline to file your taxes has been extended until July 15th so if you haven't already done so, your stimulus check could come in handy to help you pay that as well.

Experts say while it may be tempting to spend it all, you should still try and put some aside.

Lynn Heider, Spokesperson at Northwest Credit Union Association said, "It's always a good idea to pay debt when the economy is experiencing speed bumps like we are right now but if you're able to save even a little of it, $100 saved today might help you with bills that may come in later in the month."

With the checks being distributed this week you should also be on high alert for scam calls this week asking for your personal information.

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