Many of us who’ve weathered the pandemic-related economic downturn relatively well may have blown some or all of that money on impulse buys. It’s understandable both given the psychic toll of 2020 and the suspect spending habits many of us have. However, with additional checks likely on the way, it’s best to have a plan now for how you might spend that extra money. Here are five responsible ways to use that next stimulus check.

Save your stimulus money

Part of the reasoning behind the stimulus checks is that getting money into people’s hands will increase consumer spending and help prop up business revenue. However, while spending may be good for the country, it may not be the most prudent decision for you and your family. If you don’t have savings of at least $1,000 (or preferably three to six months’ worth of living expenses), stash that next check to be prepared for emergencies.

Invest in stocks

2020 saw the major stock market indices hit historic highs, making many people millionaires. You, too, can take advantage by investing some or all of your next stimulus check in the market. Don’t know where to get started? Start by checking out personal finance publications online. Many app-based investing platforms geared toward novice investors can help you get your feet wet as well.

Fund your own business

If you’ve ever dreamed of starting your own business, consider putting your stimulus check toward your start-up costs. That doesn’t mean quit your full-time job right now. Instead, begin to build your business after-hours, using your stimulus check to fund your new venture. By doing so, you can build and grow your family’s wealth.

Use your stimulus for a down payment

Stop throwing money away on rent. Save your stimulus check toward a down payment on a new home. Interest rates are incredibly low, so if you’ve got good or excellent credit, you may be able to afford a new home. You’ll need as little as 3% of the purchase price upfront, plus additional money for certain fees and costs. Your stimulus check can offset those costs significantly.

Give back to those in need

If we’ve been fortunate enough to have what we need, we should consider giving some or all of the money we’ve received to those less fortunate. During a time when we all seem to be at odds, giving back brings us closer together. For the religious among us, we should not forget to include our stimulus money in our annual tithing or zakat calculations.

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Before that next stimulus check hits our bank account, we should have a game plan for how to spend it wisely. Whether we invest in ourselves, our families, or others, we should take full advantage of the opportunities this money affords us.