Consumer Adviser Clark Howard

Consumer Adviser Clark Howard on how you should prioritize the bills you pay with your stimulus check and how to avoid scams happening now with the money.

Full transcript:

ANCHOR INTRO

MANY OF US WOKE UP YESTERDAY TO RELIEF IN OUR BANK ACCOUNTS FROM THE I-R-S.

JORGE ESTEVEZ WITH OUR SISTER STATION IN ATLANTA SPOKE WITH CONSUMER ADVISER CLARK HOWARD ABOUT HOW YOU SHOULD PRIOITZE THE BILLS YOU PAY WITH IT.

TRT 2:02

OC THANK YOU

Jorge: Clark Howard giving us expert consumer advice boy do we need it right now more than ever. Because the stimulus is in our accounts right now hopefully. How do we prioritize the bills we pay?

Clark: So, it really depends on the situation you’re in at the moment you’ve received your check. If you are unemployed right now, you’re still waiting for unemployment compensation, or you’re tapped out broke, Set the priorities based on what really matters and that’s putting food on the table. If you have money left after that and you didn’t pay April rent send your landlord what you can of your April rent. And stay in contact with them and let them know what it’s going to take for you to send them more rent.

If you are in a situation where you are just totally broke and the assistance you were expecting from the state department of compensation you set the priorities for staying alive, which is food and shelter. If your situation is not that dire though Jorge, you look at it a little differently. If you’re still working but you don’t know how long you’re going to be working, I want you to save this money. I want you to put it in a savings account and if in fact your hours are cut back, your pay is cut back or you do get laid off at least you have that reserve of the $1200 to be there for you when you might really need it. So, that’s the key, what your current status is.

Jorge: ok, so lastly scams. Really quickly we’re gonna see scams happening right now with this little money that people are getting. How do we protect ourselves?

Clark: So, the big scams are people waiting for the money. If you already have the money you’re not as much a target of the scamsters. It’s people appealing to you saying hey you wanna know when you’re gonna get your money. Those are the ones you need to ignore. Because those are the ones who are gonna try and get in your wallet.

Jorge: Alright thank you, Clark Howard. Great expert consumer advice as always.

Clark: Thank you.