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MIKE & KAREN SILVER

Financial Peace University Leaders

C-19 is making this a trying time—a CRISIS for many families—layoffs; furloughs; stimulus checks; unknowns. Based on our experience teaching Financial Peace University for a decade, we have the following advice for your stimulus check:

  1. First and foremost, this is a time for a family budget meeting—we have already had one and will have several more before this is over:
  2. Focus solely on food, housing/utilities, and transportation—stop paying everything else to get your spending down to the bare essentials. 
  3. Some may be under the impression that their rent and mortgage payments will be “forgiven”. This is NOT true. Though our government is attempting to have late fees forgiven, your mortgage or rent is still due. PAY those bills. If your budget allows, after paying the essentials, pay your other bills in accordance with your revised budget in this first step.
  4. If you have an emergency fund, do NOT spend your stimulus check…just add it to your emergency fund and proceed with step one above:
  5. Follow your budget and dip into that emergency fund as necessary to fund your budget.
  6. If you are fortunate and still have an income, do NOT spend your stimulus check
  7. Pray over that check; sleep on it; listen to the Holy Spirit and He will lead you to share your blessing in a way you have never experienced before
  8. Finally, if you have any questions, you can email us anytime at [email protected] We won’t tell you what to do, but we will help navigate through this turbulence.


Mike & Karen Silver are long time members of Calvary and have led our Financial Peace University classes for years, helping many people get out of debt and find financial freedom.