While the $1200 that most of us expect within the next few weeks is a critical lifeline (but not enough) for people who have lost their jobs, many of us who are still employed or retired with a reliable income, myself included, don’t need the $1200. By staying home and not buying gas, not eating out at restaurants (but ordering take-out) we are spending less than we normally would.
So I encourage you to consider donating the funds to a 501(c)3 nonprofit organization. There will be a delay of a few weeks before the funds arrive in our bank accounts but the demand on food pantries and other non-profits addressing the needs of the unemployed are already escalating. So I just donated my $1200 in advance of receiving it to my local homeless shelter/food pantry.
Check out how you can contribute time to your local non-profit.
Source: Financial Planning for Women