Episode 176: We’re bringing you insights from both the small business owner (Kevin) and employee (Sean) about receiving government stimulus checks during Covid-19. Tune in to hear the good, the bad, and the ugly.
Small Business Stimulus – Kevin’s Review
Kevin’s experience with the small business support check was less than ideal. There was a gap between what was promised in the Care’s Act versus what was released. The Payroll Protection Loan, in particular, didn’t come through as expected. Now the money is gone, and plenty of small Mom-and-Pop shops are at risk.
For Kevin, this negative experience has him rethinking small business ownership, and if it’s maybe time to work for someone else again. All in all, Kevin is grateful for having put steps toward financial independence in place to be able to support his family during this crisis.
Personal Stimulus – Sean’s Review
Sean had a positive experience with the stimulus check and received some very helpful funds for himself and his family. At first, this money came with guilt as he’s still actively working. However, the money will be reinvested in case things change in the future or used to buy things that support the local economy.
There are a lot of options when using personal stimulus. If you don’t need it to buy groceries and pay your bills to keep your family alive, invest it, pay off some debt, start a savings account— use that money wisely.
Disclaimer: Kevin and Sean are not professional financial advisors. Do not take any advice they give without first speaking with a professional and performing your own due diligence.This post may include affiliate links.