Category: Invest/Savings
-
To be stimulated or not to be stimulated - that is the ?
"We didn't buy anything - - yet ;-) Just put it in our little old measley savings account to earn - -.000% - HA! I work in the software industry and my husband works in the banking industry. My company has laid off over 400 employees this year; my husband's company is actually fairing quite well through this economic down turn (they didn't get involved in the sub-prime mortgage fiasco). If my job isn't eliminated yet this year, then we'll probably spend the money on our trip to CA for our 10 year wedding anniversary next year :-)"
Edith, 38, Software
St. Paul, MN -
Apparently I don't exist right now. Check back later...
"I was really excited about receiving a stimulus check. I actually make enough money to qualify and I really needed to put some money away. I figured that the fact I live at home would hurt me, but when my parents filed taxes, the government said they could not claim me. Strange, since I'm a 21-year-old full time student living at home. But the time for payment has come and there is no payment to be found. Hm... so I guess the IRS has just chosen not to acknowledge my existence at this particular time. We'll see how they feel about my existence when my taxes are due next year..."
Heather N, 21, full-time student, part timer retailer
Birmingham, Alabama -
Starting a nest egg
"I originally wanted to spend the stimulus on a laptop computer, but with the economy in the state that it's in, I decided it would be more prudent to deposit it in my savings account. I want to build up a nest egg in case things get worse. I know, I know, I'm not stimulating the economy, but I have to do something to protect myself. And I'm not going to lay the blame specifically on W or Congress, though both have been inadequate -- no matter who gets elected in '08, we're all screwed."
Rptrcub, 27, public relations
Cobb County, GA -
Saving for a rainy day
"I put my money in savings. I'm in grad school and every little bit helps! Besides which, our country's problem isn't that there's too little spending, it's that there is not enough saving. Be the change you want to see in the world!"
Tina, 25
Santa Barbara, CA -
My stim check went to...
"No, I didn't buy this bike. I put the money into my savings account, because it's not a gift from the government... it's an advance on next years taxes. So I'm going to save this money to compensate me for the lack of return I get next year. "
Dino, 36, Law firm
Tampa, FL -
A Long Overdue Replacement Window
"My family bought a new picture window for our New England home. The double-pane, argon filled window should help cut our heating oil costs significantly this winter (and hopefully earn us a tax credit). The rest of the cash will get put away for heating oil this winter."
Victor, 32, Engineering/Defense/DRS
Fitchburg, Massachusetts -
Our Stimulus
"With the union being slow and not working right now I will be spending mine on needed items like $4.00 a gallon gas. My daughters will go in her savings and hopefully gain some interest."
Brad, 30, Painter
West Allis, WI -
Happy First Birthday, Kairi!
"My husband and I spent ours on bills, an investment and our daughter, Kairi. It was for her First Birthday!!"
Manon Barwick, 23, Graphic Artist
Sumter, South Carolina -
Stimulus my arse!
"Most of it to gas/food, some for vacation, most in savings!"
David, 26
Greensboro, NC -
Get some real money
"I put all $600 of my stimulas towards the purchase of one troy ounce of gold in the form of a 1967 krugerrand, since I know the dollar certainly isn't gonna get any stronger while the government is tossing money out to people like a hot potato."
Brian, 29, Engineer
Redondo Beach, CA -
Saved mine
"It's your money, America. Don't be stupid, and stop looking for refunds from the IRS like some gift from the tooth fairy. It was and is your money to begin with. If you have debt, pay it down. If you are debt-free, save it. Stimulate the country by being responsible with your money and demanding the same from your government!"
Jack, 47, Financial Planner
Orlando, FL -
Shorting America
"I established more short positions in the S&P 500 with my stimulus check. I'm up 28% since I received it. Thanks GW!!!"
Eric, 28, Engineer
Los Angeles, CA -
See America
"Half of it went to a trip for my wife and I out west. The other half went into savings."
Russell, 29
Grand Rapids, MI -
Guilt funds IRA
"I put mine into my RothIRA. I'm a grad student, and could have blown the money on beer... but I feel guilty if I don't stash the max $5000 away every year. "
Kathryn, 25, Grad Student
Pittsburgh, PA -
Invest & Invest !!
"I did use my $600 wisely in stock market, made it double which I reinvested again. Hopefully it will double again. so should you!!!! not necessarily in stock but Roth, 401K, CD etc. Good luck. "
Ahasan
Queens , NY -
529 plan - College Savings
"My husband and I put the $300 designated for each of our two dependents in thier 529 plan. My half of 'our' money ($600) went to pay down credit card/home equity debt from a basement remodel project and to buy groceries and such basic stuff as new jeans, tennis shoes, socks and underwear."
Julie Marie, 38, Health Insurance Industry
Cedar Rapids, IA -
Groceries, investment, and strippers
"I spent my $600 rebate on store gift cards at Albertsons. They matched it with a 10% bonus, so I got $660 to put towards my grocery bills. Since that was money I was going to spend anyway, I also transferred $150 to my IRA, $150 to my Roth IRA, $150 to Prosper.com, and went to a strip club with the last $150. I still lost less money at the club that night than I did on the stock market that day (and 'Taylor' at least gave me good value for my money)."
George Morris, 25, Writer / Catalog Company / Clean Air Gardening
Dallas, Texas -
Increased my home's value
"I used the stim check and normal refund to pay for supplies and remodeled my attic from nothing to something. I lost 25 pounds working on it too. The picture is a before and after shot."
Bob, 39, Software Developer
Hutchinson, KS -
Saving stimulates the economy too
"Added it to my savings account towards a down payment on a house at the end of the year. The bank will invest the money, so it still stimulates the economy. Pic is my cat in our rented apt."
Andrea, 40, graphic designer
Richmond, VA -
A little extra for our wedding
"My fiance and I are using our $1200 (600 apiece) towards our wedding fund. We will be entertaining around 150 people this October, and our goal is to do it without having to use any credit cards. So far we've been doing great. As the checks were deposited a few days before we booked the honeymoon, I suppose you could say that is what they specifically paid for. "
Julie, 25, Professional
Stafford, VA
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The Stimulus
In January, Congress approved $152 billion in economic stimulus checks for millions of American households, intended to boost the economy and avert a recession. Just how this money will be spent remains to be seen. We hope this website helps shed some light on where the stimulus money is going.
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