Americans, What will you be doing with the stimulus money?

Raisin

Sun, Jan 03 2021, 10:27 am

amother [ Violet ] wrote:

If you want to be literal about it - a 'stimulus check' is meant to give people money to inject it into their local economy. IE stimulate the economy.

but nobody is forced to do so.

All americans get it, not just those living in the USA. So it is stimulating lots of other economies too.

I do think it is an odd way to distribute money. BH our income has not suffered from the pandemic. Here people whose income has suffered or are out of work get pandemic payments, not people who are working and earning as normal.

amother

Powderblue

Sun, Jan 03 2021, 10:28 am

You know what’s ironic?

I do bookkeeping for somebody who owns some residential buildings.
Not one non paying tenant added any money from this past stimulus and I doubt the current one either.

People just get the money, buy a new iPhone or any other luxury item , and just ignore the fact that they owe rent since March.

How do our tax dollars go directly into peoples pockets, free to do with it whatever they want when people can hardly pay their property tax? Or their utilities?

amother

Floralwhite

Sun, Jan 03 2021, 10:31 am

amother [ Violet ] wrote:

If you want to be literal about it - a 'stimulus check' is meant to give people money to inject it into their local economy. IE stimulate the economy.

but nobody is forced to do so.

True ,but putting the money into savings doesn't stimulate the economy. It removes the money from circulation.

itsmeima

Sun, Jan 03 2021, 10:36 am

If you don't need it, please give it to charity - do I need to say this 🤬

More than 25 million Americans are unemployed or their hours were cut - one of them is your neighbour, sister, friend... DO SOMETHING!

itsmeima

Sun, Jan 03 2021, 10:38 am

amother [ Powderblue ] wrote:

Or maybe they used it for food, health insurance or heating!

amother

Oak

Sun, Jan 03 2021, 10:39 am

amother [ Peach ] wrote:

It's only 600 per person you know...

Right?!
I haven’t even gotten mine. Sad

Last time I didn’t get for any of my kids. And COVID impacted my finances in a bad way but my unemployment never went through either and I finally gave up. Baruch hashem we have savings (or rather had savings) and we’re doing ok. But I want that money. Sad

amother

Blush

Sun, Jan 03 2021, 10:49 am

amother [ Oak ] wrote:

Right?!
I haven’t even gotten mine. Sad

I didn't get for my kids either for some reason, but my accountant says I can claim it through my tax return this year. Just FYI.

amother

Violet

Sun, Jan 03 2021, 10:54 am

amother [ Floralwhite ] wrote:

True ,but putting the money into savings doesn't stimulate the economy. It removes the money from circulation.

I agree that when gov'ts run stimulus programs, their intent isn't for people to save the money... its not particularly patriotic to do so - but... people are free to do what they want.

chanchy123

Sun, Jan 03 2021, 10:56 am

itsmeima wrote:

Charity, duh!

Yes, but you don’t need the stimulus to give charity. You can give charity from your monthly salary too. You don’t have to give away your rightly deserved stimulus check, just because you can afford to put it into savings. It’s unfair.
No one has stolen this money, they (we) got it because they (we) fit the criteria, it’s not at the expense of anyone else. It’s not a zero sum game. Would you say that anyone who earns a salary that’s more than they need for that month’s expenses needs to give away the leftover money and is not allowed to save? That’s ridiculous.
It’s great to give charity, it’s also great to save for a rainy day. Is also great to buy something you really want and boost the economy. There’s a lot of things you can choose to do.
I live in Israel and we got a similar (but smaller sum) stimulus check, with absolutely no criteria - everyone qualified, with the reasoning being that qualification tests abs red tape would take forever and people need the money now.
So there were amazing initiatives collecting charity at the same time and millions were raised for good causes by people giving a portion of their check, which is a great added bonus - but not a duty.

amother

Bisque

Sun, Jan 03 2021, 11:07 am

[quote="amother [ Peach ]"]

amother [ Bisque ] wrote:

Buying a vitamix, DH wants an electric bike to do Hatzolah calls on. The rest will be probably given some to Tzedakah and the rest saving up for a vacation when the world is normal again.

We got married right before Corona and never really had a vacation together. I want to go abroad somewhere after Corona.[/quote

It's only 600 per person you know...

Last I heard it was 2000 a person. That's not true?

If it's only 600 it will probably just go towards one of those things.

Ema of 5

Sun, Jan 03 2021, 11:11 am

itsmeima wrote:

Putting it into savings is doing something. It is doing something for THEM to make sure they have a vision to fall back on if needed.

amother

Oak

Sun, Jan 03 2021, 11:11 am

amother [ Blush ] wrote:

I didn't get for my kids either for some reason, but my accountant says I can claim it through my tax return this year. Just FYI.

I know that, and it’s what I’m planning to do. But I don’t know when it will come through.

amother

Oak

Sun, Jan 03 2021, 11:13 am

Ema of 4 wrote:

Putting it into savings is doing something. It is doing something for THEM to make sure they have a vision to fall back on if needed.

Yes, a lot of us had to empty out our savings so we wouldn’t need to take charity. My standard of living is a lot lower than some of those who were asking for handouts. I don’t know where the idea that I need to give up that buffer even comes in. You’re supposed to give 10-20% to tzedakah, not everything that’s left over after expenses.

Ema of 5

Sun, Jan 03 2021, 11:14 am

amother [ Violet ] wrote:

I agree that when gov'ts run stimulus programs, their intent isn't for people to save the money... its not particularly patriotic to do so - but... people are free to do what they want.

How is it not patriotic to put it into savings?

amother

Pearl

Sun, Jan 03 2021, 11:16 am

We aren't getting any extra money in England 🤔 besides for the 10k that my dh's business received at the beginning of the pandemic bH. You lucky guys, I'd probably buy a sheitel with it, or put it towards summer vacation away if we can even travel again by then! Wink