On Wednesday we received the stimulus check in response of the Covid-19 emergency: a total amount of $2,900 ($1,200 of each of the adults and $500 for Sofia).
The day before (April 14th, just before the usual annual deadline of April 15th) I filed the family tax return and immediately after, we got the money in the bank accont.
I am very grateful for this help we received. I am managing good enough but not everybody is in a fortunate position.
Consider though that the situation in other countries is much worse. My friends in Italy with small business were promised only €600, and most of them still haven’t received anything! I hope they will.
By the way, if you still haven’t received the sum you can check for more information in the IRS website.
This blog has the aim to spread positivity and to help you to live your relationship with money in a fuller, more relaxed (and hopefully more effective) way. So I want you to sit with the sum in front of you and start to really understand how you feel in this situation and what your heart is telling you to do with this money.
Table of Contents
Monthly bills and food
The stimulus check is not changing your path to financial independence. So if you feel overwhelmed, if you lost your job and you don’t receive unemployment, this money needs to go to the liquidity fund to cover all your expenses. By all means, try to cut all the expenses that are not essential. Your goal is to make this money last as much longer as possible.
If you are in difficulty, here some other resources that can provide you with some assistance:
– Find the closest food bank around you
– Some states are offering mental health/emotional support, see the example of New York
Buy something for the kids… and for your mental health
In this quarantine, many women are balancing working from home with kids that are usually in day care, we are becoming teachers and full time housewives (full time in the sense that we are at home 24/7!)
We really have our hands full! This is almost as overwhelming as the lack of money for some moms!!
So, if you are not in hard financial difficulty, maybe some of this money can go to buy some educational/entertainment activities to keep the kids occupy and let us moms maintain our emotional/mental health.
Save it/ invest it
If you are dealing pretty well with the situation, the stimulus check could really be some useful additional money that you can put to work for the future. In this case as it can be considered as a “gift”, put some extra effort in deciding the purpose of this money.
In line with an abundance mindset and a thankful attitude, part of this amount should be used for the happiness of others so the investment bucket of your children is probably a good place to destine this cash.
Donate it
The world needs gratitude so, if you are not struggling in this period, remember to think also of the less fortunate ones. This health crisis will pass and the economy will be in bad shape: every help for other families to be able to return on their feet quicker is going to give benefit to everybody in our country. This is how Karma works!
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