What should you do with your stimulus check? Local expert weighs in

As Oregonians start to receive their $1,200 stimulus checks from the federal government, a local expert says what you should do with that money largely depends on your current financial situation.

News.

Federal stimulus money is finally finding it's way into oregonian's pockets.

But as kezi 9 news reporter chris lueneburg shows us, experts say what you should do with your money entirely depends on your current financial situation.

Trt 1;45 0:00 using your stimulus wisely/ springfield 0:11 kove janeski/ delivery driver 0:32 ross kanaga// financial innovation manager, devnw 0:45 chris lueneburg kove janeski is trying out a new gig-- delivery driving.

"i have two part time jobs.

Laid off from both."

Struggling to get on unemployment-- that stimulus check will be a valuable stop-gap measure.

"i used to have a good cushion of savings and that's kind of dwindled away, so i want to build it back up.'

If like janeski-- you're waiting on your check-- you can go to the irs's 'get my payment webpage' to learn the status and type of your payment.

-- but once you have it-- experts adise against letting it burn a hole in your pocket.

"depending on where your money situation is today you may choose different forms of action."

Ross kanaga with dev northwest says those who have lost income should prioritize living expenses-- food, mortgages and car payments.

"kanaga says you should consider refining two budgets-- the first, your current spending and expenses.... the second-- an emergency 'budget pyramid'-- (excel spreadsheet inset with video) with essential living expenses at the base-- rent, food, car loans... and at the top, expenses that can wait-- unsecured debts like personal loans."

I f you can't make minimum payments-- contact your lender.

If you have a modest but reliable income-- the next step is bolstering your emergency fund.

"we've already been through a lot as oregonians.

But this is still kind of the first wave.

Building some resiliency for what's coming in the future-- nothing is more important.

I f you finacially secure-- think about supporting local business or friends and family in need.

Contribuitng to your retirement funds may also be wise if your investing time horizon is long term-- but janeski's needs are in the short term.

"what i really want is those 600 dollar checks they are promising for unemployment."

A small reprieve-- before the bill stack up.

Reporting in eugene i'm chris lueneburg kezi 9 news.