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DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing

Using Your Stimulus Check

DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing

Bleav + Quint Tatro & Daniel Czulno, CFP® a passionate look at everything money from budgeting, savings, investing, stocks, bonds, debt. For those that enjoy Dave Ramsey, Jill On Money, Smart Money, BiggerPockets it’s worth a listen!

Real Estate, Business, Education, Self-improvement, Investing, Money

4.6858 Ratings

🗓️ 1 April 2020

⏱️ 7 minutes

🧾️ Download transcript

Summary

In this week's episode Quint and Daniel discuss the best uses for the stimulus check.

Transcript

Click on a timestamp to play from that location

0:00.0

Hey there, this is Daniel. Thanks for listening to DIY Money. Now, if you haven't already, be sure to give us a five-star review so your friends know that this is a show that they can learn from. Follow us on Instagram at DIY.money. Now, enjoy this episode.

0:20.3

Welcome back, ladies and gentlemen.

0:22.1

You are listening to another edition of DIY money.

0:28.0

DiI. Money.

0:29.8

All right, I hope everybody's hanging in there, staying safe.

0:33.3

We will get through this.

0:34.9

We will get through this.

0:36.5

If you are listening to this a few years out, as you are backtracking through episodes, this is being recorded on April the first 2020 in the midst of the coronavirus quarantine.

0:48.7

Again, hopefully you are all staying safe.

0:51.1

We are going to continue to bring up to the top of the queue, any question

0:56.6

related to the coronavirus or the stimulus or tax questions regarding this specific time period,

1:05.3

unemployment benefits, you name it. So if you have a question regarding anything time sensitive,

1:10.5

please do send that

1:11.3

our way. And we will bump that to the top of the queue. And as always, if we use that on the show,

1:17.1

we will send you a $25 Amazon gift card. We've got a great question today from Matt in Mississippi. Matt,

1:26.8

what do you got?

1:27.6

D-I-Y!

1:29.7

Hey guys, Matt from Mississippi. I just want to say that I love the show. My question is about

1:35.5

this thing that is this bill. So my wife and I make right under the $150,000. We have a

1:41.2

six-month emergency fund. And from looking at the bill, we should get $34,000 because I do have two children.

1:48.6

My question is, can I put that $34,000 into a traditional IRA, or can I put it into my children's impact college savings plan and then claim that as an income deduction on my 2020 taxes.

2:04.5

Thank guys.

...

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