Poll:Of the $600 stimulus check, how much will you spend?

[ShokWaveRider]

Oh S#$t sorry, I meant per month. I DO track it and in 2020 so far we have averaged $420 a month not including alcohol or cleaning items. I updated my previous post. So it would cover 4 months of food. Still a big number that does not take into account Rent Utilities etc.

Food: Jan - Dec 2020:
371.98 341.36 437.55 615.05 393.94 353.21 479.58 368.74 517.75 417.96 318.80 425.98

Year: 5,041.90
Average Month: 420.16

[ExFlyBoy5]

Quote:

Originally Posted by CardsFan Bold by me. Do you really think the average family of 4 spends almost $29,000/year on groceries? We are 2 people, as well, and we probably spend about $100 (I don't track groceries specifically) on average. Last week I went to Ruler Food (Kroger version of Aldi's). I bought a whole Butterball turkey, a spiral ham, and assorted other items. The bill was $61. I am sure I could feed a family of for less than $150/week, with good nutritious food.

Well, it's just me and the DW and we average pretty darn close to $500/mo and this isn't going out buying Wagyu beef, either. Groceries are NOT cheap.

[MrsHaloFIRE]

Concur exflyman. The 2 of us have a huge and evergrowing grocery bill and we are not fancy cooks. We share a big ribeye and eat our iwn baked potatoes for the fanciest night

[W2R]

Last time I got a stimulus check of $1,051.95 based on my 2019 income. So, I'm thinking I might get something for this one too if they base it on 2019. My 2020 income will be more so if they base it on that, I won't get a stimulus. I usually do my taxes the first week in February so I expect my stimulus will be $0.00 this time.

As for what I'll do with it (if I get any, which I doubt) - - - my property tax went up this year due to both reassessment and increased millages, and so did the cost of TP and so many other items due to the pandemic. So, my previous stimulus check went towards paying part of these increases. That is probably what will happen to this one as well (if I get anything).

I think it's nuts that the CPI-W only went up 1.3% this year, because my own cost of living went up a lot more than that and I haven't been living any differently. Maybe some of the increased costs that I am seeing will show up in the next adjustment of the CPI-W.

Quote:

Originally Posted by ExFlyBoy5 Well, it's just me and the DW and we average pretty darn close to $500/mo and this isn't going out buying Wagyu beef, either. Groceries are NOT cheap.

+1

[pacergal]

If we get one, will split and give to kids, they need it more than we do.

[Chuckanut]

Quote:

Originally Posted by harllee I wish people like me were not getting the stimulus and more were being given to the people who really need it. The nice friendly lady who put the groceries in my car at Walmart this morning was all excited to get the payment. She asked me when I thought it might come and she said she was hoping this week and I told her it would probably be a couple of weeks. She said she would have to tell her kids that Santa was being delayed until she gets the stimulus money. I am going to give any stimulus money I get to people like her.

+1

This money should have been used to help those unemployed and under employed by the shutdowns and restrictions.

If I did not have family members who have suffered a severe economic hit from the fight against CV, I would take the money and stuff it into various tip jars at some local places that are barely hanging on. I would also contribute some of it the the local food bank.

[Sunset]

Quote:

Originally Posted by Sue J When we got the last stimulus check in the spring we felt so good to be able to give half of it to our son and daughter-in-law. They also got stimulus money, including for their baby. Our son had been furloughed for 6 weeks and while his employer reopened, it was scary times. They were very surprised and appreciative. I never asked what they used it for. But my son told me what they did with it and I was surprised and realized that they didn’t need it as bad as we thought! And I decided then that I would not be repeating that gift if any more stimulus money came our way. Maybe it’s time to gift our other son, who lives far below his means, saves and invests and will get his own stimulus to add to his nest egg.

Your post reminded me, how It bugs me, the person who blows their money whenever possible deserves help, but the careful saver doesn't.

I grew up a careful saver, but my sibling blew threw $$$ whenever it showed up, and was rewarded by various people with: new car, $50K inheritance, Thousands of extra $$$ gifts each year.

[HenryD]

Other. Qualified for a reduced amount based on 2018 income this spring. Would be ineligible based on 2019 or 2020 income. If they just rush the payments out based on the 2018 figures they used in the spring I suppose we might get a little something. Will donate if so.

[mickeyd]

Don't need it. Don't want it. Don't expect much or any . It's just a loan that my grand kids will have to pay for.

[ziggy29]

We might use 1/3 to order more takeout, 1/3 to charity, and 1/3 to savings. I wish this was more targeted toward those who lost their jobs and are losing their businesses. Most of us who have not lost income are actually doing better in 2020, because we've not had the spending opportunities, especially things like dining out and travel. We don't need stimulus. I'd gladly give our $1,200 back if it meant all the local small businesses would survive this.

[Lsbcal]

Quote:

Originally Posted by audreyh1 No, deferred until you file your 2020 taxes. Which occurs in 2021. Maybe that’s what you meant. So either you’ll owe less or get a larger refund in 2021.

Thanks for confirming this. Now I will go out and spend like a drunken sailor. 🤪

[CoolRich59]

Going straight into my "rainy day" account

[Koolau]

Quote:

Originally Posted by W2R Last time I got a stimulus check of $1,051.95 based on my 2019 income. So, I'm thinking I might get something for this one too if they base it on 2019. My 2020 income will be more so if they base it on that, I won't get a stimulus. I usually do my taxes the first week in February so I expect my stimulus will be $0.00 this time. As for what I'll do with it (if I get any, which I doubt) - - - my property tax went up this year due to both reassessment and increased millages, and so did the cost of TP and so many other items due to the pandemic. So, my previous stimulus check went towards paying part of these increases. That is probably what will happen to this one as well (if I get anything). I think it's nuts that the CPI-W only went up 1.3% this year, because my own cost of living went up a lot more than that and I haven't been living any differently. Maybe some of the increased costs that I am seeing will show up in the next adjustment of the CPI-W. +1

Yes, I've been whining about "undocumented" inflation for a long time. I have seen dramatic increases this year, due to Covid and have wondered if it will be documented in any fashion. My best guess at previous local "consumer" inflation is at least 5%. Stuff like HOA dues, local fees, utility add-ons, etc. are even higher.

I don't "worry" too much as I've over saved. I do worry about other local folks who are suffering the double whammy caused by Covid. I try to do my part with donations and extra tipping, etc. But, I just wonder if the CPI-W will accurately reflect inflation. I guess we'll see since YMMV.

[Timeisprecious]

Quote:

Originally Posted by ziggy29 We might use 1/3 to order more takeout, 1/3 to charity, and 1/3 to savings. I wish this was more targeted toward those who lost their jobs and are losing their businesses. Most of us who have not lost income are actually doing better in 2020, because we've not had the spending opportunities, especially things like dining out and travel. We don't need stimulus. I'd gladly give our $1,200 back if it meant all the local small businesses would survive this.

+1

[goingtotravel]

Still w*rking. Make too much $$$ to get a check. Happy that we don't need it and not unhappy at all that we aren't getting it.

[Out-to-Lunch]

What if it is $2k?

[Sunset]

Quote:

Originally Posted by Out-to-Lunch What if it is $2k?

Or doesn't come out for another 30 days ?

[rk911]

if president trump does veto and the veto stands and a new bill passes with the “aid” to foreign govts eliminated and the $600 aid increases to $2K or more (or something in-between) and assuming we qualify we will still pass it on to charity.

[harllee]

Whatever stimulus we get will go to charity--if we get more than $600 each we can help more charities.

[Cobra9777]

We qualified for the advance payment earlier in the year based on 2018. Our AGI in 2019 and 2020 is much higher because we are Roth converting to the top of the 22% bracket. I delayed filing the 2019 return until Oct 15, thinking that 2018 might qualify us for another round of stimulus. But with the impasse in Washington, that didn't work out.

So we will not qualify for this round based on the 2019 return. Of course, that's assuming they actually use our 2019 data, that's been in their system since Oct 15. Who knows. I wouldn't be surprised if we get another check for my deceased FIL.

Anyway, anything we get just goes into the checking account and is quickly forgotten. No change in behavior. We already make generous contributions to several local charities, including food banks. In effect, it increases savings because it reduces the amount we have to withdraw to cover routine expenses in the future.