Local financial expert discusses ways to get the most from your stimulus check

Who is getting a stimulus check?
Who is getting a stimulus check?

SAN ANTONIO – Many people are looking forward to a stimulus check from the federal government in the next few weeks.

The checks are part of a multitrillion-dollar emergency stimulus package passed by lawmakers that is aimed at cushioning the novel coronavirus' impact on the economy.

From saving to helping families to splurging it all, on Friday, dozens of social media users spoke about plans for their stimulus checks, which are expected to be sent out to most Americans in the next few weeks.

For detailed information about receiving a stimulus check, click here.

Dionelle Rucker, assistant vice president of Torres Advisory and Consulting Services, said with so many people out of work, he expects the economy to be unstable for at least the next few months. He said managing funds wisely is essential.

“I believe you should budget. If you don’t have a budget, create a budget, review your budget, see where you need to cut expenses,” Rucker said.

Local financial expert analyzes economic impact of COVID-19, offers advice

Rucker added that budgeting is also vital for those who have not lost income during the pandemic because times are so uncertain.

“Case by case basis, but just because we have our jobs today, doesn’t mean we’re going to have them tomorrow,” Rucker said.

If you’re a small business owner and that stimulus check won’t be enough to maintain operations, Rucker said you could look into small business loans because there is a loan forgiveness clause included in the stimulus package.

COVID-19, the respiratory disease caused by the new virus, stands for coronavirus disease 2019. The disease first appeared in late 2019 in Wuhan, China, but spread around the world in early 2020, causing the World Health Organization to declare a pandemic in March.

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