How are you going to spend (or not) your stimulus check?

[Al in Ohio]

This one is only $600. Might pay may bills for January.

 

[harllee]

I just saw that the stimulus hit my bank account this morning. DH and I will send checks today to local charities using up all the stimulus money. We are so blessed--we do not need the money and there are so many other people who do.

 

[Badger]

Not sure we will get it, but it was an excuse for DW to donate $800 to the local no-kill animal shelter. If we do get it, think we will just send the rest there.

+1
What we do. It will quickly go back into the economy for supplies and medical treatments.



Cheers!

 

[Badger]

Like I did with the first one I'll give to people in need and some individuals that do heroic work for animals. I think part of me feels weird about getting checks to be honest.



I like this board because I can say this here, but the fact that I have over 7 figures in investments and the government is giving me money is just wrong
Look forward to passing it on.

+1


Cheers!

 

[Dawg52]

Mine hit too. Last time i gave a lot of it away to the tip jars when I picked up food at restaurants. I figured employees were getting hit hard on lost tips. May do the same.

 

[GravitySucks]

Ad a Patriotic American I'll use mine to support the oyster farmers on Chincoteague VA, the lobster fishermen in BoothBay Harbor ME, and weed farmers in Humbolt CA.
All America's finest.
As soon as we can safely travel again.

 

[lemming]

I gave my last one to my younger brother. Much more likely to be spent. I will do that again I suppose. I don't ever communicate with that second family of my Dad but I want good things for them.
I should double down on the foodbank too.

 

[cyber888]

Got it. Bulk - already donated to relatives who are struggling, monks, UN refugees, and doctors without borders. The remaining used to pay principal of home equity line.

 

[Out of Steam]

Going to my kids. One lost a job. Another, will be out soon. Both due to Covid.

Ours will go to our daughter, who finished her Masters degree in late 2020 and hasn't found a job yet.

 

[Out of Steam]

I like this board because I can say this here, but the fact that I have over 7 figures in investments and the government is giving me money is just wrong
Look forward to passing it on.

The problem seems to be that, unless money is distributed to most everybody, it's politically unpalatable to provide cash assistance at all.

 

[RxMan]

We’ve been blessed this past year. This round of stimulus hasn’t arrived yet but when it does we’re giving some to our local food bank. There is plenty of need and we did the same for the first round of stimulus money.

 

[TNBigfoot]

I may go out to dinner on mine once the vaccine is in wide use although it will be hard to find a nice couples night out for $45.95.

 

[mh]

It will go into our checking account and sit there like the first stimulus payment did.

That is the philosophical issue I have with the stimulus payments... most people I know, even our kids, don't really need the money (they have not lost their jobs). I would prefer that the stimulus be targeted to those who need it more... people who have lost their jobs as a result of covid, are behind on their rent or mortgage, etc. But I guess that would be too complicated.

Not really . They could just enhance / extend unemployment benefits. Not perfect, by any stretch of the imagination, but it seems a better way to deliver aid at the moment

 

[SecondCor521]

Not really . They could just enhance / extend unemployment benefits. Not perfect, by any stretch of the imagination, but it seems a better way to deliver aid at the moment

They did that too. See "Unemployment Benefits" at the following link for example:

https://www.cnn.com/2020/12/20/politics/second-covid-stimulus-package-details/index.html

 

[Lawrencewendall]

Pay off some of the DW Christmas spending (11k). Need to support the economy.

 

[Redbugdave]

Half of ours went to a particular charity we support. The other half went into one of my Vanguard funds.

 

[lem1955]

I think I received about $15. on the last stimulus round. Decimal dust. I hope I remember to use the debit card for something.

 

[JRon]

Shows pending so will hit our account on Monday. We’ll pass it on to our local homeless shelter. Happy New Year to all.

 

[MRG]

DW looked yesterday and $1200 was deposited. Last batch went to supporting local restaurants and businesses. I've been thinking about buying a couple of bikes from a local shop.

 

[Green Papaya]

We did not receive either $1200 or $600 stimulus check, but I guess we will receive credits when we do our 2020 taxes. My leaning is to give to someone who needs it more than we do.

 

[Rustic23]

Gave it to relatives that needed it more than us.

 

[jollystomper]

Last time around we used it for specifically for charity and gifts. This time around we will just put it in our stash-o-cash for whatever.

 

[Walt34]

That's exactly what I plan on doing too. All those hobby shops have been having a rough time with the pandemic and all, and when people lose their jobs hobbies and entertainment are the first things that get cut back. So I'll do my small part to alleviate their pain and suffering by buying more R/C stuff.

Correction:

I have been informed by a higher authority that we are not buying R/C airplanes. We are buying new rugs for the living room and family room. Who knew?

 

[gcgang]

https://www.irs.gov/newsroom/treasu...omic-impact-payments-to-millions-of-americans

Looks like there’s a 2019 income limit of $75k ($150k joint) to receive.

 

[GenXguy]

https://www.irs.gov/newsroom/treasu...omic-impact-payments-to-millions-of-americans

Looks like there’s a 2019 income limit of $75k ($150k joint) to receive.

Not so, you can still receive a stimulus check with higher income, but it will be reduced as your income increases and eventually phased out.

For me, I get nothin' - above the phase out threshold.