what are you going to do with stimulus payment

[rduell]

Applying it toward the mortgage.

[creditcardfree]

It will go towards our car downpayment fund. We will probably be buying a new to us car later this year.

Ditto. Honda Odyssey

[cheshirecat]

pay towards loan that i tranferred to 0% BC a month ago. we are putting all extra $ on that until it is paid off before time limit run out.

[moneybags]

AGI is 103k, taxable income is ~62k.
Which income is used to calculate the credits?

AGI is the number you look at to see if you are phased out, so don't make any more money .

[disneysteve]

It depends. We're having our taxes done tomorrow. We don't believe in loaning the IRS money all year, so we owe come April 15. Once I know how much we'll owe this year, that may determine where the stimulus payment goes. Assuming we owe $2,000-$3,000 for taxes, the rebate will just go to help replenish the money used to pay the tax bill. Not too exciting, huh.

I thought I should update this response. As per my post earlier today on the Personal Finance board, we actually ended up getting a $3,000 refund so we owe nothing for taxes. Along with the stimulus payment, that's $4,500 coming in unexpectedly.

It usually takes me until the end of June to max the Roths for the year. Between the tax refund and the stimulus payment, I will definitely have them fully funded by May. After that, I'm going to attack our HEL. I'd like to have it paid off by the end of 2009 and this money will definitely help things along. The HEL balance is just over 10K now so repaying it by 12/09 should be no problem at all.

[Jazzmint98]

I will put it in savings.

[Hot dog]

I am hoping my 2nd mortgage will be done by then if not it will go there. Otherwise it may go toward a vacation. I am sure we will help out the economy in some way

[Snave]

Not getting one. Can't really complain because I go a buy-out fom my company so that money went to savings. But, of all years to be over!

[jodi]

It will either go in the EF (to replenish this year's Roth payment) or towards the 2008 Roth - not sure yet. But it will be saved either way, not spent!

[geojen]

I imagine it will go towards improvements to the house we just bought. It would be nice if we could use it to pay down a car loan, but I kinda doubt that will actually happen!

[herm4]

Paying off my DD braces!!!

[disneysteve]

Paying off my DD braces!!!

Good for you. The last payment for my DD is in May. I'm looking forward to that - $150 for 20 months will be over soon.

[kilapapipa]

We jumped brackets this year and owed $2500 so the $2100 we get for a rebate is just going back to savings to cover our taxes.

Once again, very stimulating.

[aevans1206]

stimulus? what stimulus?

Ours will go directly towards debt. My goal is to have the CCs/personal loans paid by July, so I was expecting our "stimulus" to carve a big chunk--that is if I get my act together and don't go totaly mental or something.

[marvholly]

From the look of things:
pay my increased state, county, local sales taxes on EVERYTHING I buy
pay my increased real estate taxes
pay my increased homeowners insurance
pay my increased gasoline expense (I will be driving MUCH more this late spring/summer as DD is due w/ baby in mid May-82 ni RT)

Oh, wait a minute - As a single the $600 I "may" get will just cover first item, maybe. It also does NOT allow for the possibility that a change in federal government (president, senate, house) whether it is a democrat or McCann could change the free this year to an advance on next year's refund or sume other way the feds take it back