Personal Finance

Here Are 2 Strategies You Should Use to Invest Your $600 Stimulus Checks

Matteo Colombo | DigitalVision | Getty Images

Americans have begun receiving their $600 stimulus checks.

If you already have healthy savings, the cash can be a useful way to help you get started in hands-on investing, according to financial advisor Winnie Sun.

A safer option would be to buy into a mutual fund that will diversify your investments for you, said Sun, co-founder and managing director of Irvine, California-based Sun Group Wealth Partners.

You can also use the money to buy stock in a company that interests you. This carries a lot more risk but can be a great way to learn about how the market works, she said.

Check out this video to see how Sun recommends everyone spend their stimulus checks and to get more advice on how to invest in relatively small amounts.

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CHECK OUT: Why January is a particularly great time to invest your money via Grow with Acorns+CNBC.

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