COVID-19 has knocked out the financial progress many had made over the last decade. Millennials have been hit particularly hard because we are one of the most vulnerable groups. This is a product of not having enough time to develop and employ our high income skills nor build enough wealth to weather tough times like we're seeing now.

Fortunately, stimulus checks offered through the CARES Act are putting money in the hands of those who need it most. While some Millennials may have more flexibility in their budgets and can use these funds on any of the best investments for young adults, many others need this money to put food on the table and keep a roof over their heads, among other pressing necessities.

How should you spend your stimulus check if bills are piling up and you need to use your check on necessities? Here's a walk-through on the thought process about how to prioritize.

Try to Cover Food and Shelter Without Tapping Your Stimulus Check

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Of course, everyone must cover the basics, one way or another, but do you have to spend your stimulus check on them? Fortunately, there is help available, so before you think