Joe Biden

Suze Orman: ‘Do Not Spend' and ‘Don't You Dare' Invest Your Stimulus Checks. Here's What to Do With the Cash

Courtesy Dominik Bindl | Getty Images Entertainment | Getty Images

Stimulus checks are on the way.

President Joe Biden signed the $1.9 trillion relief package into law last Thursday.

About 159 million households are expected to receive the latest round of direct payments in coming weeks.

While the checks are typically meant for immediate use to shore up budgets and stimulate the economy, people should focus on preparing for more emergencies, according to Suze Orman, host of the "Women & Money" podcast.

Check out this video to hear why Orman says people need to be prepared for at least another year of reduced income.

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CHECK OUT: Suze Orman: Don't buy stocks with your third stimulus check unless you've done this first via Grow with Acorns+CNBC.

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

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