what are you going to do with stimulus payment

[myrdale]

all "found" or "extra " money goes to my mortgage

I will be doing the same, Simpleyme.

[Fizgig]

Giving it to a friend. I think the "stimulus" is stupid and although I love extra money, I don't need it.

Her roomate is moving to a different state in July, and she can not afford the house rental on her own. It's tough for a single mother earning $30k a year to save up first/last month's rent, deposit, incidentals, etc.

The $600 won't make a difference to me. It will make things much easier for her. Easy call.

[syracusa]

I will use it as a replacement/consolation for the lawyer fee we lost in the hope that his intervention will somehow convince a real estate agency whose agent and customer stole quite a bit of jewelry from us when "showing" our home - to be held responsible and compensate us for the theft.

Of course, the real estate agency did not budge and just pretty much said "sue us". We may be going to small claims court on our own because the lawyer's fees would be prohibitive...but we certainly wish we had not tried at all with the layer from the very begining.

These guys are worse then the thieves themselves.

Life happens and sometimes it is not pretty.

[disneysteve]

I saw the results of a poll on CNN the other day saying that 73% of those surveyed planned to either save the money or use it to pay bills. I thought that was pretty encouraging.

[tifnglen]

thats great steve!

[disneysteve]

thats great steve!

Of course, the pessimists will look at that study and say that the reason so many people don't plan to spend the stimulus money is because they are falling behind in bills due to the economic downturn. If you are struggling to stay afloat and you get some extra money, you are going to use it to try and catch up, not get a new TV.

[kork13]

I sort of thought along the same lines that steve just mentioned... if 73% put it to savings or paying off previous debts, doesn't really do much for 'stimulating' the economy... But oh well, that's for economists and politicians to worry about.

I'll be happily doing my part to stimulate the economy by using it (and my ~$650 tax refund) to furnish my first apartment when I graduate college in a couple months...

[InDebtInDC]

This is a no brainer for me. I'm using the stimulus payment to pay off debt.

I sort of thought along the same lines that steve just mentioned... if 73% put it to savings or paying off previous debts, doesn't really do much for 'stimulating' the economy... But oh well, that's for economists and politicians to worry about.

I thought about paying off creditors and how that would boost those companies' balance sheets and instill investor confidence. Would that help?

[jc3900]

I am not sure if I am going to get it, but because of my parens income my dad said it is more beneficial to not declare me as a dependant so I can get a $300 check. If I get it, all of it is going right to my s&p 500 index fund. Who knows though, maybe I will open up another account soon to start diversifying.

[LuxLiving]

Likely that either we will split it 1/2 - 1/2 to our respective Roths. Or Hubster could be generous w/his portion and we could go 3/4 to mine and 1/4 to his??? We are trying to boost the amounts in my accounts as I'm the non-working spouse and need to do some catch-up.

Or we might put it to the mortgage. I know, I know. Not the best financial decision, but it makes me happy slashing that mortgage the closer we move to retirement.

Even though it won't be spent at the local mall it does help the economy. Those stocks & mutual funds and such are continuing to invest in businesses throughout the US and the world. If we go w/paying on the mortgage - the mortgage banker is just going to take our dollars and loan them to someone else. It likely isn't just going to sit growing moss!

[disneysteve]

Even though it won't be spent at the local mall it does help the economy. It likely isn't just going to sit growing moss!

That's what I keep saying. Unless you cash the check and stuff the cash in your mattress or bury it in your backyard, it is helping the economy.

[Snave]

I saw the same 73% number and initially thought the same thing. But, all that means is that most people will pay down their credit card that first month they get the check, then in the second month, realize they have more wiggle room to buy something else - on credit.

[disneysteve]

I saw the same 73% number and initially thought the same thing. But, all that means is that most people will pay down their credit card that first month they get the check, then in the second month, realize they have more wiggle room to buy something else - on credit.

I hadn't thought of that. You are probably right.

[BabyBear]

My BF and I live together. I think mine will go towards the mortgage and his will probably go into savings!!!

[fruitbowlk]

I'm going to add my to my growning EF.