OT: - What Will You Do With Stimulus Money? | Page 2 | The Boneyard

OT: What Will You Do With Stimulus Money?

My wife and I are eligible and have already seen the deposit show up in our bank account. We are retired, and have very few expenses beyond food and insurance. So I am not sure how valid this payment is to us. I am sure many others are more in need. Still unsure of the ultimate dispostion of this cash infusion. We are grateful that we are secure, and just hope to continue to be able to find the few things we need in the grocery store. But our lives are relatively unchanged.
 
bleeckerhusky said:
We are going to donate all of it to the Regional Foodbank of NENY. Have you seen the long lines of cars at foodbanks in San Antonio and elsewhere? These people really need our help. Please consider donating something to your local foodbank, pantry or soup kitchen.
Expand ...

Great use for this money. Kudos.
 
I guess that I will listen to everybody on how they will spend it. Enjoy it....we always seem to miss out on this free money.
 
Bama fan said:
My wife and I are eligible and have already seen the deposit show up in our bank account. We are retired, and have very few expenses beyond food and insurance. So I am not sure how valid this payment is to us. I am sure many others are more in need. Still unsure of the ultimate dispostion of this cash infusion. We are grateful that we are secure, and just hope to continue to be able to find the few things we need in the grocery store. But our lives are relatively unchanged.
Expand ...

I'm somewhat in same situation as you, except no wife for me. I also wondered how valid this payment is to myself. As you said there are many more others in dire need. Like you, this COVID-19 has not changed my income sources. The only thing I can think of for reason just about everyone will get the stimulus money, whether one is retired or not, is to get the money out as soon as possible.
 
mbr33ct said:
I'm somewhat in same situation as you, except no wife for me. I also wondered how valid this payment is to myself. As you said there are many more others in dire need. Like you, this COVID-19 has not changed my income sources. The only thing I can think of for reason just about everyone will get the stimulus money, whether one is retired or not, is to get the money out as soon as possible.
Expand ...
I am sure they would like people to spend the money locally to boost the economy. But there is nearly nothing open here. And those business that are open are primarily large national chains. For now I will hold off spending until the kids and grandkids are okay. Then donate to local food banks what is left.
 
psconn said:
We have decided that we will spend 100% of it in local, one-location small businesses as quickly as we reasonably can. These places are a major piece of the economy and pretty much define the community you live in and probably employ(ed) your kids or grandkids. I fear if we don't actively support these places, we may be left with Walmart, Amazon and nothing else when all is said and done. That would be a shame.

If you are eligible to receive anything, what will you do with your piece?

No political statements PLEASE! It's happening, voted in on a non-partisan basis, and I'm just curious where people will apply this money. Savings? Routine bills? What?
Expand ...

From all the small businesses a big THANK YOU! I hope others try to help out like this once everything is back open. I am a vendor in a small Main St store, sort of a tourist shopping town and this is obviously hitting all of us real hard and the bigger concern is if/when people will come back out to shop. About 90% of my sales are from this shop so if they close I don't know what to do with my business. (and just this one shop closing would impact about 10 of us)

Anyway I am lucky my husband still has his job and we will be ok. We mostly plan to do the same thing you are. We will give some to charity and as soon as things open up we plan to buy a new mattress and the rest will all be spent at local Main St type retail shops and restaurants.
 
.-.
vtcwbuff said:
I went to the IRS website where they have a "Get My Payment" link. They tell me that I'm not eligible - but I am.

Assuming I get a check I'll probably spend it on travel. We've had to cancel two planned trips this year already . One to Bermuda and one to Spain.

We were ordering out once or twice a week to support our favorite local owned restaurants. We decided to stop. Partly because of safety concerns but also because most of what we ordered was just not good. In a couple of cases it was inedible.
Expand ...
If you are retired and receive social security from SSA or SSI, this is the information you will receive from IRS site. Don't worry the misleading message I got the same as yours.

Because IRS gives the money, and IRS has to communicate with SSA to get your bank account to deposit the money. Hence all people receive social security will get the money late, around end of April or beginning May.

If you filed tax return 2019 or 2018 and have IRS return money directly to your bank, you will be the first group receiving the money.
 
Bama fan said:
I am sure they would like people to spend the money locally to boost the economy. But there is nearly nothing open here. And those business that are open are primarily large national chains. For now I will hold off spending until the kids and grandkids are okay. Then donate to local food banks what is left.
Expand ...

I did just that today from a local Pizzeria. Decided to get couple apps, fried Calamari and Broccoli Rabe and Sausage and for good luck a large Muzz Pizza just for the heck of it. Figure I could eat for at least couple of days. :rolleyes:
 
My Son who had filed his taxes in Feb, got his money on Wednesday.
 
I'm not getting any, but if I had, it would be going to friends who aren't working and still waiting on unemployment. I'm lucky to be in an "essential" occupation.
 
.-.
Zanzman said:
Why would you say that it’s ridiculous
Expand ...
Because the phase out of the stimulus begins at $75k for individuals, and goes to zero at $99k. That level of income is not exactly uncommon in Connecticut where to make the top 1% you need to make over $750k/year.
 
Guess I don’t live in your neighborhood cause i should be getting it as well as my family and friends
 
hoopsfan22 said:
Because the phase out of the stimulus begins at $75k for individuals, and goes to zero at $99k. That level of income is not exactly uncommon in Connecticut where to make the top 1% you need to make over $750k/year.
Expand ...

The "average" is, of course, highly skewed by some extremely wealthy households at the top. The use of an average number may not provide an accurate picture of the poverty in our state. In 2019 the median US household income was about 63k, while the average was almost 90k. Yet last year a Treasury survey concluded that 40% of Americans would have difficulty raising $400 in an emergency.

There are 84,600 households in Connecticut that don't even have a checking or savings account (CT Mirror, March 2020). There's got to be many, many more CT working poor and lower income households for whom this money may be really important. For many in Connecticut, the aforementioned food banks and soup kitchens are a literal lifeline.

I'm feeling very lucky that we still have an income, a secure home and the ability to contemplate where to apply our small piece of stimulus money beyond our next meal or to keep a roof over our heads. So many in Connecticut and all over the country do not have such options.
 
.-.
Better question would be, who on this forum actually needs it? If you can do other things than pay bills or purchase food, my opinion is you really don’t need it!
 
MDoggie said:
Better question would be, who on this forum actually needs it? If you can do other things than pay bills or purchase food, my opinion is you really don’t need it!
Expand ...

Hard to argue with that. The upper limit seemed a bit "generous". And since I am fortunate to really not NEED any help, I feel it is important to move these dollars to those that do.
 
I will use it to pay my VISA bill, which was used to pay the IRS on our 2019 taxes.
 
.-.
Bama fan said:
My wife and I are eligible and have already seen the deposit show up in our bank account. We are retired, and have very few expenses beyond food and insurance. So I am not sure how valid this payment is to us. I am sure many others are more in need. Still unsure of the ultimate dispostion of this cash infusion. We are grateful that we are secure, and just hope to continue to be able to find the few things we need in the grocery store. But our lives are relatively unchanged.
Expand ...

The payment is indeed valid. It's intent is stimulus. I don't think it should be put into savings. Spend it! Lots of ways to put the money to good use if you don't need it. Spend it locally in a small business that might be struggling, donate it to a food bank or other charitable cause that is doing good things for people that are having a hard time right now or if you have kids or grand kids send them to Disney when this is over.
 
vtcwbuff said:
The payment is indeed valid. It's intent is stimulus. I don't think it should be put into savings. Spend it! Lots of ways to put the money to good use if you don't need it. Spend it locally in a small business that might be struggling, donate it to a food bank or other charitable cause that is doing good things for people that are having a hard time right now or if you have kids or grand kids send them to Disney when this is over.
Expand ...
Since I'm a retired vet that is 80% disabled according to VA, my wife and I WILL support the local economy here in Vegas. We already get curbside orders 3 to 4 times a week, so when our favorite casino opens we will go and do our gambling and eating in their restaurants. Almost 65% of the economy is gaming related here in Nevada, so if you support gaming you "pay it forward" to the other entities of our economy. If the casinos are open and supported, then the workers get paid and go out and support the other businesses.
 
Bought a new washing machine because that magical sensor that knows when to stop the water from filling, decided to die and water flowed... everywhere. It was an old washer but the timing sucked.
 
TRuconnfan said:
From all the small businesses a big THANK YOU! I hope others try to help out like this once everything is back open. I am a vendor in a small Main St store, sort of a tourist shopping town and this is obviously hitting all of us real hard and the bigger concern is if/when people will come back out to shop. About 90% of my sales are from this shop so if they close I don't know what to do with my business. (and just this one shop closing would impact about 10 of us)

Anyway I am lucky my husband still has his job and we will be ok. We mostly plan to do the same thing you are. We will give some to charity and as soon as things open up we plan to buy a new mattress and the rest will all be spent at local Main St type retail shops and restaurants.
Expand ...
Do you have a website for online sales? Maybe @temery might allow Boneyarders (including our friendly visitors) that are small business owners to post links to their sites temporarily.
 
HuskyNan said:
Do you have a website for online sales? Maybe @temery might allow Boneyarders (including our friendly visitors) that are small business owners to post links to their sites temporarily.
Expand ...

That is very thoughtful. I don't have a website any longer but do have a business Facebook page I post a lot of what I make and try to sell from there.
I realize right now though many people are struggling and can't shop, and those that do have some extra money are giving to charity and I support that.

PS: I can not receive/send any conversations/PMs on my account. Is that something you can fix in my settings?
 
.-.
You must log in or register to reply here.

Forum statistics

Threads
168,482
Messages
4,577,412
Members
10,488
Latest member
husky62


Top Bottom