Here are tips on how to use your coronavirus stimulus money

Here are tips on how to use your coronavirus stimulus money

New information -- some of you have already recieved some financial relief from the federal government.

The first thing you might want to do is go out and spend it.

But that may not be the smartest decision.

Waay 31's sophia borrelli spoke with a financial advisor to learn some better options on how to use that extra cash.

"tomorrow some of us could see up to an extra 12 hundred dollars in our bank accounts.

The government hopes you use the money to help turn the economy around.

Tim randle, ceo wealthbridge financial advisors: "i like to pay off the debts that are smaller.

Especially if your family's aggregated check can pay off that debt, because now you don't have to make that payment anymore.

It gives you that feeling of accomplishment of security, safety and it feels good."

Tim randle's the c-e-o of wealthbridge financial advisors.

He told me one of the first things you should do is pay some bills.

Once your debts are done.

Randle suggests starting an emergency fund.

Tim randle, ceo wealthbridge financial advisors: "sometimes even if you've got some debt, it might be a better idea to have an emergency fund because it keeps you from going deeper into debt.

I know that those are two very strong competing goals and a lot of times it's through kitchen table discussion with your spouse."

Alleha scott, live in huntsville: "i'm pretty excited about it because this will kinda help me as far as paying bills, you know just trying to catch up.

Thankfully it's not much, that i have to catch up on, but the little bit that is coming, it does help."

Some people in huntsville i spoke with say they are going to spend their stimulus check wisley.

Barbara perkins, lives in huntsville: "probably going to put it in savings and maybe catch up on a few bills that i'm kinda lagging behind on and other than that, the rest of it i'm going to use it and have a little fun with it and just enjoy myself."

Randle agrees.

Tim randle, ceo wealthbridge financial advisors: "live a little bit but we want to spend the most of this on something that's responsible to help us improve our lives and make our finances as stable as possible."

He says whatever you do - start with a plan.

Tim randle, ceo wealthbridge financial advisors: " make one small decision, one thing that you know you can do then do it and the best way you can do it is if you have an accountability partner."

In huntsville - sophia borrelli waay 31 news.

Those who qualify and provided the i-r-s with direct deposit information should see the funds appear automatically in their