With all the serious questions about the IRS Stimulus Package, I was getting a little burned out. I thought I'd take a break from the serious stuff and instead look at the other side. What are people spending their stimulus payment on?
I came across this website where people are posting about how they spend their stimulus payment. How I Spent My Stimulus is fascinating. The sheer variety of posts is amazing.
People have spent their money on the obvious like home repairs and rent. I've seen posts about engagement rings and political donations. One lady sent her boyfriend to a comic convention for a vacation. This lady bought lottery tickets and this guy got a haircut.
Spending or Saving?
It appears that far more people are spending their stimulus payment than saving it or paying off debt. Of course that's exactly what the government wants you to do with it. President Bush and the Congress should be celebrating with a Mission Accomplished style party.
While I recommend you save the money or pay down your debt, I'm sure not very many people are going to do that. Free money seems to have driven people into a spending frenzy!
So what am I going to do with my stimulus payment? I'm going to remodel my bathroom. I should say I'm going to buy the supplies to remodel my bathroom. My stimulus payment should just about cover the materials. I might have enough left over to buy myself a pizza and some beer (you know, to pay the help). I'm doing it over Memorial Day weekend.
Anyway, the serious stimulus payment posts will now resume.
Tags Economic Stimulus Government IRS Stimulus PaymentRelated Posts
- The Stimulus Payment Was a Ridiculous Political Stunt
- IRS Where's My Stimulus Payment Web Page
- What Does the Stimulus Notification Letter Look Like?
- Where's My Stimulus Payment Tool Worked For Me
- Is the Economic Stimulus Payment Taxable Income?
Comments
6 Comments so far
ONCE I get my stimulus check (still no word on when it's coming) I plan on saving every last dime! I'm not going to sock it into the economy like it's suggested because I didn't create this fiasco, Bush did with the war that's been going on for far to long. Thank God he's leaving office in a few months.
This is like a little added bonus for my husband & I and we're looking forward to having this money in our savings. You know……emergency funds. *nudge nudge*
If I get it I will be getting a new roof and a heater for our pole building.
Great post. I say spend it, save it, put it towards debt, and our IRAs. Also be careful of the retailers offering 10% bonuses in gift cards. Consider this: $100B was spent in gift cards last year, and $8B was lost/unclaimed. I blogged about this on our company blog a few days ago on savvywallet.com. As for me. I'm putting half of it in my ROTH IRA, and spending the other half on one heli-ski run down in Las Lenas, Argentina.
Just enough to pay off my credit card so that's what I'll be spending it on.
I'm giving the entire amount directly to the Democratic nominee for president.
trish – right? when and if it gets here…..
car insurance, summer camp fees for my 7 yr old twins….and one new toy for each of them. whatever's left – food. how's that for exciting? may not be stimulating the economy but stimulating my economy works even better.