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What should you do with your stimulus check?

The first round of stimulus checks will head toward millions of Americans now through the next several weeks.

News4Jax spoke to a certified financial planner about what you should do with that money.

This first payout is estimated to cover at least 50 million people.

These payments are part of the $2.2 trillion rescue package.

Here are a few things to remember once you collect your stimulus payout.

"This is the time to really assess your financial situation. Make sure that you’re using those dollars to take care of your basic necessities -- food, your light bill, those things that you will need to carry forth over the next one to two months as the economy slowly begins to try to open back up,” said Titus Pittman, a certified financial planner.

Pittman said this isn’t the time to make unnecessary purchases with your stimulus payment.

"It's not time to plan your next vacation with these dollars,” said Pittman.

You need to make sure you have a budget in place. This way you can identify all your expenses during this time and properly prepare for them.

Put together a financial plan for the next two to three months. Set aside money to help navigate your bills during that time and pay and prioritize all necessities.

“I would encourage each person as you look at your existing budget, a lot of the creditors are being very favorable to allow you to even defer some payments because they recognize these are unprecedented times for our nation. So I would look at that and make sure that the necessary things that you have to take care of," Pittman said. “Those basic things are taken care of. And making sure that the money that you have whether it’s from the stimulus check or other means, that it’s enough to navigate you and your family for the next month or two until we get on the other side of this thing.”

Once your necessities are taken care of, what’s left of your check should go into savings to prepare for the uncertain times that lie ahead.


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