Stimulus Checks...how ya gonna spend it?

[Maneo]

If it comes I am going to pay (at least some) of my debt.

This year started off great w/needing a new hot water heater and tank for my well.

[Trunksee]

More than likely just add to the farm. Get more fencing done and get a couple of goats and a pig to raise for food. May finally be able to get the electric fence in to keep the coyotes and foxes out.

[Breccia]

There is an exhaustive article on the stimulus checks which you can read here.

[Logwyn]

Someone should crank numbers on this and compare to see if we save money by just doing this and universal income instead of all those programs out there.




If we get any. Maybe a new computer. Save the rest.

[Kathandira]

If my Mrs and I both get the $1,200. We will finish paying off my car loan as I only have $2,800 left on it. That would allow me to divert the car loan money to my student loan to get that paid off sooner. All in all, it would get me much closer to being debt free.

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Maybe a new computer. Save the rest.

Do you not have any debt, or anything you can put the money towards that could improve your financial security?

I mean, you might be well off already and not even need the check, just asking.

[StillMcfuu]

As President Bush found out, people in uncertain financial times tend to save money. This situation may be different, at least for laid off citizens, because the money will become a source of income vs a "bonus" on top of their normal income.

[Kathandira]

As President Bush found out, people in uncertain financial times tend to save money. This situation may be different, at least for laid off citizens, because the money will become a source of income vs a "bonus" on top of their normal income.

Absolutely. I have a few friends who have lost their jobs, had their shifts reduced, or in the case of performance jobs, had all their gigs cancelled for the next month or so. They desperately need the money since they generally live paycheck to paycheck with no savings at all. This stimulus is very necessary for some people.

[the game]

As President Bush found out, people in uncertain financial times tend to save money. This situation may be different, at least for laid off citizens, because the money will become a source of income vs a "bonus" on top of their normal income.

alot of people I work with are investing into the valve index.

[StillMcfuu]

Absolutely. I have a few friends who have lost their jobs, had their shifts reduced, or in the case of performance jobs, had all their gigs cancelled for the next month or so. They desperately need the money since they generally live paycheck to paycheck with no savings at all. This stimulus is very necessary for some people.

Reading some articles, I have a real concern for people who made good money last year or 18 and have been laid off. They aren't going go get anything when they are the hardest hit.
Unless im reading this wrong, but payout is for those under 75k, with reductions up to 99k. What if you posted in that range or higher the previous year and are now laid off. This would apply to a ton of contact workers, union/ construction, etc.

[Kathandira]

Reading some articles, I have a real concern for people who made good money last year or 18 and have been laid off. They aren't going go get anything when they are the hardest hit.
Unless im reading this wrong, but payout is for those under 75k, with reductions up to 99k. What if you posted in that range or higher the previous year and are now laid off. This would apply to a ton of contact workers, union/ construction, etc.

That's a good point. There should be a provision to submit financial records, as well as proof of unemployment status to be reconsidered for the stimulus.

[StillMcfuu]

That's a good point. There should be a provision to submit financial records, as well as proof of unemployment status to be reconsidered for the stimulus.

Maybe just have the state add it directly to the unemployment insurance, and if they find they sent 2 checks to a person, take it from their fed income tax during 20 and 21 tax season.

[Kathandira]

Maybe just have the state add it directly to the unemployment insurance, and if they find they sent 2 checks to a person, take it from their fed income tax during 20 and 21 tax season.

That seems very fair, and would ensure people receive the money. The only catch would be those getting laid off now may have a waiting period before they are put on Unemployment Insurance. I know there is fact finding a paper work that can cause delays. Hopefully no delays would extend passed the time the checks are sent.

[Logwyn]

If my Mrs and I both get the $1,200. We will finish paying off my car loan as I only have $2,800 left on it. That would allow me to divert the car loan money to my student loan to get that paid off sooner. All in all, it would get me much closer to being debt free.

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Do you not have any debt, or anything you can put the money towards that could improve your financial security?

I mean, you might be well off already and not even need the check, just asking.

I'm currently finishing school online. Hopefully, be employed for the next school year. You never know if we might need the rest for something else.

[TigTone]

Join the master 4K PC race !

Most likely save and use it when needed.

[Dontrike]

Put it away into a new account and keep it until the next tax season comes up, if I have to pay it back then I'll be ready to do so. Then I'll use it for basic things.

[the game]

Put it away into a new account and keep it until the next tax season comes up, if I have to pay it back then I'll be ready to do so. Then I'll use it for basic things.

it's my understanding that it isn't going to be taxable. Unless there's new information that says differently.

[Zan15]

That seems very fair, and would ensure people receive the money. The only catch would be those getting laid off now may have a waiting period before they are put on Unemployment Insurance. I know there is fact finding a paper work that can cause delays. Hopefully no delays would extend passed the time the checks are sent.

Well I believe most states are waving the waiting period if you are effected because of the virus. I know my state has.

It might be 3-4 weeks before you get a check, but it will be the full balance from the day you submitted (3-4 weeks worth)

[Zeth Hawkins]

It will likely sit in my savings account, though I am tempted to buy a decent VR setup for Half Life Alyx.

[breadisfunny]

business will just lay off people to make up the difference so probably savings.

[PC2]

business will just lay off people to make up the difference so probably savings.

Okay but we can't and shouldn't want businesses to employ more people then they want or need. The focus should always be on creating new businesses and services and not trying to preserve the jobs that exist right now.