In a GOBankingRates article titled “The Best Budgeting Method for a Stimulus Check, According to Experts,” Wealthcare’s Michael Boggiano lays out a smart three-part approach using the 50/30/20 rule.
He explains:
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50% of the stimulus check should cover essential expenses like rent, utilities, groceries, or bills.
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30% should go toward building financial stability—whether that’s boosting an emergency fund or investing in retirement.
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20% is for discretionary or “joy” spending, such as treating yourself or supporting local businesses.
Boggiano reminds readers that this is a guideline, not a one-size-fits-all rule. “Remember, this is a guideline, not a rulebook… Prioritize what will give you the most financial security and peace of mind.” His practical advice helps people turn unexpected windfalls into a meaningful boost for both short-term needs and long-term goals.
