Kevin O’Leary blasts Trump’s $2,000 tariff dividend as a ‘silent tax’ on Americans. What to do with it if you get it

Debt Repayment Strategies - The avalanche method focuses on paying off the largest debt first to minimize interest accumulation, while the snowball method prioritizes smaller debts before tackling larger ones [1] Financial Relief and Economic Impact - High-interest debt, particularly credit card debt, can severely impact financial stability, making it crucial to clear it quickly to enable saving and investing [2] - Kevin O'Leary criticized the idea of distributing $2,000 checks funded by tariffs, arguing it would exacerbate inflation and not address underlying economic issues [3][4][5] Savings and Investment Opportunities - After clearing debt, individuals are encouraged to start saving, with platforms like Acorns allowing users to invest spare change into ETFs based on risk tolerance [6][7] - Wealthfront offers a high-yield cash account with a base variable APY of 3.50%, which can increase to 4.15% for new clients, significantly higher than the national deposit savings rate [9][10] - For those with an established emergency fund, investing the $2,000 in low-cost index funds or ETFs through platforms like SoFi can be a viable option [11][12] - Diversifying investment portfolios is recommended, with a suggested 60/40 split between stocks and bonds, and exploring real estate investments through platforms like Arrived [13][14]