Just curious as to what everyone who is still working, presumably without severely reduced hours/pay, plans to spend their $1200 on.
I think it’s an awesome idea to put that money back into a struggling community, and while I applaud everyone and anyone who decides to do that, the fact is there are a lot of people who could still really use that money. I wouldn’t ask for it, and wouldn’t be opposed to money ONLY being offered to those affected, so please don’t think I feel entitled to this money. I do not.
What do I plan on doing with it? Finally get my car paid off for good (I’m about $350 away), and putting the rest toward a cc debt that has paid for car maintenance and repairs (and an upcoming trip I bought plane tickets for back before all this happened, including the car repairs). Whether I’m able to go in June remains to be seen, but I’ll deal with that as it happens.
If you still have your job, or at least are able to make ends meet more or less as before COVID-19, how are you planning on using that money?
When it was first whispered that we’d be getting it, I offered it to my friend who is a waitress with a mortgage and a car payment. But once the restaurants in Ohio closed and servers got unemployment…well, she’ll be getting her $1200, her husband’s, her kid’s $600, and unemployment and I think an extra $600/week (or month?) from Ohio so I think she’s doing just fine.
Mine will go into my savings “bucket” i have set up for some home renovations I want to do this upcoming winter. I’ll be hiring local contractors to do it as planned.
Yikes - wishing her the best! I’m terrified of the dentist and honestly haven’t been there in years (although I know if work that needs to be done). I’m just that freaked out about going. Not only because of the actual work getting done, but the cost as well, especially w/ no dental insurance.
I know it was given to us to spend to prop up the economy, but unemployment could hit 10-20% and who knows how long it will take for the economy to recover. so I’m saving mine.
It’s going straight to credit card debt. We’ve been working diligently lately to get it all paid off, and we’re lucky enough that we don’t need the stimulus money for day-to-day expenses.
We’re already doing what we can to support local businesses.
If we get anything from this deal, we will be spending most of it if not all of it at local restaurants getting take-out. It may not make a difference in their survival, long-term, but what else can we do with it? - it is supposed to be spent in your community, not saved.
The majority will go as a donation to the small museum where I work. We’re at high risk of shutting down permanently if we remain closed much past beginning of June.
The remainder will go toward paying down a credit card bill.
I already got my renovation supplies a few weeks back before the “staycation” orders were issued. Now I’m waiting to see if I get laid off next month longer than the 1 week planned. Or if I have to stay home “out of an abundance of caution” without sick days. If I don’t or can’t get tested, I can’t claim A&S benefits either. If not the CC bill came in Friday for the supplies so those get paid first.
If we get a check we’ll probably owe it on our 2020 taxes. 2018 was a decent year and we’d qualify for a reduced payments amount, 2019 was a bad year and we would get the whole thing but 2020 is shaping up to be our best year ever so my understanding is we’ll have to pay back the amount we shouldn’t have gotten.
So we’ll put it somewhere safe until we’re sure if its our or not. Since it looks like we’re going to sell our house before 2020 taxes are due we might use it to pay down our mortgage.
Why do I have to spend it at all? It’s just another number in a column. If, at some point in the future, I find myself with more money than usual I may spend it on something I hadn’t planned on spending it on, but why do I have to tie my income to my expenses on a one-on-one basis?
I’m retired and don’t need the money. It will either go to my kids (depending on their work situations), to Meals on Wheels, or to some other charity like a food bank.