Wise Ways to Manage Your Stimulus Check and Tax Refund

Stimulus checks are back AND it’s tax season! It’s time to figure out what to do with the extra cash sitting in your bank account. If you’re going back and forth wondering if you should save the money or spend it, Dream Builders Financial Services is here to help! Check out their tips to see which choice is right for you:


  • Pay Off High-Interest-Rate Credit Card Debt – Use your stimulus check or tax refund to pay off credit card debt. The return on your money is equal to the interest rate, plus it’s guaranteed and risk-free.
  • Invest Against Future Expenses and Emergencies – Having cash in a savings account means you don’t have to put another transaction on a credit card for future expenses or emergencies.
  • 401k Contribution – Increase the amount of money you’re contributing to your 401k by investing your check or refund.
  • Help Pay Your 2021 Taxes – Save your stimulus check or tax refund to help pay your taxes for 2021.
  • Save for Retirement – Invest in a traditional or Roth IRA for 2020 (you have until May 17, 2021) or invest for 2021.


  • Support Local Businesses – Buy gift cards to local stores and restaurants.
  • Little Luxuries – Invest in yourself! Spend some money on something you wouldn’t normally treat yourself to.
  • Give Back to Others – Use your money for others; pay for dinner, buy a gift card and slip it in your neighbor’s mailbox, give your server a generous tip, etc.
  • Shopping – Head out for some needed retail therapy. Some retailers offer promotions around tax season, which makes it even more irresistible!
  • Home Repairs – You’ve been spending a lot of time in your house, which means you’ve been able to notice the little projects that need to be done.
  • Fund Your Hobby – Invest in something you’re interested in that will help take you to a new level and do something you are passionate about.

Dream Builders is dedicated to helping everyone unlock their potential and realize their dreams. Their Life-Centered Planning process begins with understanding who you are, what’s important to you, and how they can help give life to your dreams. Let Dream Builders assist you in finding the best way to use your stimulus check and tax refunds.

Dream Builders Financial Services
(401) 241-6693
Life Insurance ~ Annuities ~ Long Term Care Solutions ~ Disability Insurance ~ Retirement Coaching

Cassie Remillard

Author Cassie Remillard

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