If you generally feel stable about your job and income right now but have outstanding credit card debt, here's where Krawcheck's advice may feel counterintuitive to what other people advise.recommends that people put their stimulus checks towards building an emergency fund covering their basic expenses for at least six months, even if they are carrying high-interest debt.
But Krawcheck, on the other hand, advises the opposite. If you have a steady income and no trouble paying your bills, her advice is to"If you have debt with interest rates of 10% or more, we recommend NOT saving it," she says. "Instead, use it to pay off that debt." While it may feel safer to save your stimulus cash in a moment of such uncertainty, Krawcheck has a point. Unpaid credit card debt becomes more and more expensive the longer you delay paying it off thanks toThis is especially important to pay attention to if you're using a credit card more and in new ways during the pandemic. If you are doing a lot of online
Spend it.
'experts'
Let me guess.. open robinhood account?
Start buying gold
Buy Kodak, a new iPhone, and Hertz just in case it goes up again.
Buy Kodak
Probably food & shelter, for most of us
These finance experts should care about what they do with their own money not mine