True story: I started Mavela with my first stimulus check. Now to be fair, this idea had been in the works for about 2 years. I already had my manufacturing partners identified and my website in development, but when I got that stimulus money, I pressed go. Now I want to be clear, this blog is NOT telling you to spend your money on my products. Instead, it is about using this opportunity to help build the middle class. So rather than making Jeff Bezos another billion dollars this week, here are 8 things you can do instead:
Pay your bills. So many people are behind on bills. Use this money to reduce your stress and ay that medical bill that has been lingering over your head for a while. Then rent, utilities, the essentials we all need to survive safely.
Pay down debts. Use this opportunity to lower your debt. Whether it is credit cards, car loans, mortgage, etc. No matter if you’re ahead or behind, this money can help.
Build your nest egg. You should have at least 3 months of full expenses set aside in your savings for emergencies. If you don’t have that already, use this to start it.
Invest for your future. Have you started saving for retirement yet? Contribute to your retirement accounts or find a financial advisor to help you get started.
Support local. So many storefronts have gone under during the pandemic, and so many more are at risk. With large corporations receiving incentives this year, a lot of local businesses missed out. Go to a local restaurant, coffee shop, boutique, or any other storefront that is in need of your support right now.
Shop small. There are many small online retailers that can bring you high quality products without Amazon. Check out Esty, Facebook marketplace, or just dive a bit deeper into that Google search to find a small business that is selling what you need.
Start a business. If you’ve had an idea in your head for a while, use this as an opportunity to JUMP. I can speak from first-hand experience, starting a business is so scary but so fun. If you’ve been thinking about it, DO IT.
Donate. If you’re not in need, there are PLENTY of people who are. Whether you want to support the homeless, climate change, world hunger, or anything else, you can find somewhere to give. Check out charitywatch.org to view charitable organization reports and ensure your money is going to the cause and not to the exec salaries.
Billionaires have built their wealth exponentially this year, as small businesses and American families’ struggle. The wealth gap has never been greater. Rebuilding the middle class starts with us. No matter what you decide to do with your money, make it work for a better future. That’s what Mavela stands for and what we hope our customers stand for as well.