Extra Cash at the End of the Week? Here’s What You Can Do With It

PennyGem’s Elizabeth Keatinge tells us what to do with extra cash.

Transcript

00:00so you've come into some extra cash good for you now what you do with the extra funds can

00:09make a big difference cnbc recommends the 80 20 rule use 80 of your income to pay your expenses

00:15and 20 to save if you receive some extra cash like a stimulus payment the motley fool recommends

00:21beefing up your emergency fund ideally three to six months of living expenses socked away in the

00:26bank you can also pad your retirement savings and pay off debt business insider recommends making

00:32additional payments towards debt you can also invest you can research individual stocks and add

00:37them to your portfolio or buy index funds you may also want to invest in yourself take a class or

00:44workshop that helps develop your personal and professional skill set investing in yourself

00:48could result in increased income and hey maybe more extra cash