Stimulus Checks: Spend or Save

[siren0119]

I would love to be able to save it, or just plug it into my local businesses. But it is basically going toward the things we fell behind on when my husband got laid off and we lost 3 weeks of his income before he was able to apply for UI. Plus the groceries are more expensive and our electric bill is higher with everyone being home all the time and on devices for homeschooling and work at home for me.

 

[amcnj]

Why? Did you not file in 2018?

I filed 2018, but would be ineligible based on that return, due to several one time taxable events which occurred. Filed 2019 and am eligible based on the adjusted gross. But, according to the IRS site, my 2019 return has not yet been processed. My understanding is that they will then use 2018, but when I file my 2020 return, I will then be able to claim it. Not real clear to me if at that point it will be based on 2020 income or 2019. But I should qualify either way, unless some unexpected taxable windfall comes my way in the remainder of 2020.

 

[superme80]

It is going to my county for property taxes. Oh yay!!! With our tax refund, I am hoping DH will let me book a trip to Legoland and Knott's when we are able to. I miss Legoland so bad!!!!

 

[BlueStarryHat]

I don't qualify. Just as well, I probably would have socked it away for Disney instead of doing responsible things with it anyway.

 

[3threebabies]

I am very happy for those that get it, and I don’t care what they do with it. I cheer for those who give it away, spend it locally, save it, etc. I am a lot sad but slightly relieved for those who need it for current everyday expenses, especially food and shelter. I *hope* there is more to come for the latter.

 

[L&Lfan]

My job is safe so I’m saving mine to give to Disney for the next trip!

 

[barbaraann]

We got our money today. It is earmarked now for future car payments.

 

[marcyleecorgan]

Drugs, Booze, and Cigarettes for me.

It's about time you had a little fun

 

[chicagodisneyfan]

Not gonna lie, I just priced out a trip to Orlando in October. n/s flights were a STEAL!

ME too! I am planning a trip Oct 21-25. Airline prices are too low not to.
I went for a day in February - just for tour of Star Wars, but want to hit the Food and Wine this year.

 

[loves to dive]

I got mine today, like another poster because of a one time event, I didn't get the entire amount but I did get some. I don't need it because I'm still working the same as I was just from home and hubby has always worked from home and is busier then before so it's going to savings just in case. If after this is all over, I didn't need to use it, I'm giving it to our local women't shelter along with the small amount of interest it might earn. On a side note, I had to go into the office today to pick up mail and drove through our little downtown. There still were no parking spaces available so I'm not sure where all those people that belonged to the cars were. Our local radio station always does an announcement of businesses that are open and named a fine jewelry store. Georgia is supposedly under a shelter at home order and only essential businesses are open, I guess fine jewelry is important.

 

[L&Lfan]

ME too! I am planning a trip Oct 21-25. Airline prices are too low not to.
I went for a day in February - just for tour of Star Wars, but want to hit the Food and Wine this year.

So I guess you think they’ll be open by then. I hope so too. I’m booked for Universal Orlando in October. It’s just nice to hear another person is expecting to go then!

 

[leebee]

Mortgage payment. Just learned we aren't teaching labs this summer, and as managing and teaching the labs is my JOB, well... Looks like the proverbial rainy day is right around the corner.

 

[DisneyHardin]

Ours was deposited today. $800 will be used to pay for the new dishwasher and installation we had to have this week. I will put $1000 in savings to pay towards our vacation condo (assuming we are able to go to the beach July 4th) and the rest, I'll just leave in our checking account as a little buffer.

 

[missnic]

Saving it for now. Luckily our jobs should be fine, but just in case things get worse..

We are booked for Universal in December, and actually discussed using part of it for Disney APs if things are 'okay' around then. And probably a day ticket as soon as we feel it's okay to go. lol

 

[Mackenzie Click-Mickelson]

Honestly I would like to donate a bit, even just a tiny bit, to a few of the local animal shelters. I'm going to talk to my husband about that. In lieu of actual financial donation I know we can also purchase items for them (using Wish Lists and all).

However, as it was just deposited today it's just put in the bank at the moment. That does not mean we're earmarking that to not be spent, it's just being added to the bank accounts to be used as needed or wanted.

 

[LilyWDW]

$1000 into savings towards buying a house
$200 in Disney gift cards for my next trip (not until December 2022)

 

[Farro]

Honestly I would like to donate a bit, even just a tiny bit, to a few of the local animal shelters. I'm going to talk to my husband about that. In lieu of actual financial donation I know we can also purchase items for them (using Wish Lists and all).

However, as it was just deposited today it's just put in the bank at the moment. That does not mean we're earmarking that to not be spent, it's just being added to the bank accounts to be used as needed or wanted.

If Walnut gets the okay on his next check up, we are going to talk to the vet and see if we can adopt him a couple of younger siblings!!! He's so lonely and misses Cashew. Would be great to get him playmates if vet thinks he can handle it.

But for now we purchase on the Amazon wish-list for Walnut/Cashew's rescue.

 

[HopperFan]

The irony .....

Many of those getting the check need it to pay bills, rent, mortgage, insurance etc because their pay has been cut, they have been furloughed or terminated etc. There will be more jobs lost as more dominoes fall. Many are concerned (as they should be) this could drag on long enough that the emergency fund will be gone so they are saving it.

There are those in the middle who might barely qualify or get partial but with no payment for older teens and college age kids, that money will cover the higher expenses that come with them - cars, insurance, tuition, housing. Those bills didn't vanish because school is out.

The folks who could easily just put it into the economy in a way that would legitimately stimulate like dining out, hiring independent contractors, shopping etc .... are the ones who aren't getting the check.

There will be little stimulus happening from this one check.

 

[wildride]

Both of us are essential so been stimulating the economy without the check. So getting ready to retire this pays of the 1 of 2 credit cards.

 

[spiders]

My wife wants to give it away. We are going to be okay so I’m okay with that. But I’m not totally convinced that they aren’t going to change how this money is being received between now and the end of the year. I think once the dust settles, they’re going to try to figure out how to pay for all of this stuff and at the very least, I think it’s going to be taxable income. So I’ve been trying to tell her to hope for the best but plan on “giving” an extra 30% as you give.