What you can do next
If you qualify Opens in new window for a federal payment related to the coronavirus pandemic and don’t need to earmark it for essentials, consider how best to use the money. (Look for it via direct deposit to your bank account or, if the IRS doesn’t have that information, via a check in the mail.) It’s a good opportunity to help pay down high-rate credit card debt, build up an emergency fund or shore up your insurance. But if you have those bases covered, consider saving for long-term goals like retirement or college or short-term goals like a car purchase or home improvements.