I don't qualify, but if I did I'd probably pay off some bills or invest it in the stock market. The stocks have gone up a lot in the last couple weeks but it's still got a long way to go before it's "recovered" and now is still a good time to buy.
What will you do with your stimulus check?
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I'm in the partial zone. We're not too sure about anybody's employment around here, so it will probably get earmarked as cushion. That being said I've been taking advantage of the rocketry sales and supporting some local restaurants anyway, just trying not to go crazy with it basically.
rfjustin
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100% going into the stock market.
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I'm gonna mostly "bank" mine for a few months to see how things play out with the whole economy. Rather than blow it soon and wish I'd kept it (or if I catch the virus and have big bills to pay that insurance does not). If things are OK later, then I'll spend some.
I have spent some money related to preparing for possibly catching the virus, medications, and such. And got a thermometer, have not had one in decades (I rarely get sick and nothing serious since I was a kid). Also got a big toaster oven (holds 12" pizzas) so I don't have to use the house oven in the main kitchen, to sort of self-isolate from everyone else in the household, and not potentially contaminate the house oven (I'm the only one going out on a regular basis for work, at Target. Living in a very well outfitted basement area with its own kitchen that has no stove or oven. It's more like a "lower floor" than a basement, very interesting 3-floor house design). Knowing the stimulus check was coming sealed the deal on finally buying that oven.
My more likely use for most of the check, if things go OK, will be to use it and a few thousand more bucks to pay off at least half of my remaining car loan. I had intended to do that this spring, before the pandemic began.
I have spent some money related to preparing for possibly catching the virus, medications, and such. And got a thermometer, have not had one in decades (I rarely get sick and nothing serious since I was a kid). Also got a big toaster oven (holds 12" pizzas) so I don't have to use the house oven in the main kitchen, to sort of self-isolate from everyone else in the household, and not potentially contaminate the house oven (I'm the only one going out on a regular basis for work, at Target. Living in a very well outfitted basement area with its own kitchen that has no stove or oven. It's more like a "lower floor" than a basement, very interesting 3-floor house design). Knowing the stimulus check was coming sealed the deal on finally buying that oven.
My more likely use for most of the check, if things go OK, will be to use it and a few thousand more bucks to pay off at least half of my remaining car loan. I had intended to do that this spring, before the pandemic began.
jimboshop99
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no, you're not the only one. I'm probably gonna use 90-95% of it to pay off credit card debt, the rest for rocket stuff (hopefully). I'm just getting back into rocketry (after 10 years away), so I'm drawing up a list to satisfy my itch. 
Don’t forget some people live paycheck to paycheck so going out and buying $1000 on rocket kits/motors (as an example) is not really money spent wisely when most need food on the table amongst other necessities when there is zero income.
FlyBoy
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Essential people are still working as are others from home so their income hasn't been affected, for them this is extra money. Whether you are spending it on necessities or hobbies you are supporting businesses and stimulating the economy so it is being used as intended.
The point of the check is to help stimulate the economy by presumably doing 2 things: helping folks pay bills, and helping businesses that need income.
Putting it into the stock market is about the worst possible thing to do with it as far as economic benefit to society is concerned. I understand folks wanting to put it into savings, especially if they are on the edge, but otherwise not spending it seems to be contrary to the intent of the money.
Tony
Putting it into the stock market is about the worst possible thing to do with it as far as economic benefit to society is concerned. I understand folks wanting to put it into savings, especially if they are on the edge, but otherwise not spending it seems to be contrary to the intent of the money.
Tony
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I understood it not to be an economic stimulus check, but something that would help people stay home from work, to avoid spreading the virus, and help the citizens of the country stay safer.
People were continuing to go to work because they had to, so this helps those. But, since it would be non PC for some agency to determine who would needed it for that vs those that could stay home okay they had to give it to “everybody”.
The cut off on who gets it due to income is the PC way of trying to give it to mostly those that would otherwise go to work.
That was my impression anyway. I’m probably wrong.
People were continuing to go to work because they had to, so this helps those. But, since it would be non PC for some agency to determine who would needed it for that vs those that could stay home okay they had to give it to “everybody”.
The cut off on who gets it due to income is the PC way of trying to give it to mostly those that would otherwise go to work.
That was my impression anyway. I’m probably wrong.
rfjustin
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Tony,
I mean this with the utmost respect, but I politely disagree here. Society did not give two ***** about each other when it was time to hoard food, supplies, TP, etc. One cannot play the "do what is good for society" card in regard to the government money-check a mere 2-3 weeks after the "its all about me" hoarding was in full swing. People's actions in the last few weeks have validated everyone will be out for their own.
I am damn proud to say that I have done NOTHING different in the lest few weeks (other than working from home, which is getting old already).
Chance favors the prepared mind... Louis Pasteur
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There is really nothing to disagree with - putting the money into the market defeats the purpose of money meant as an economic stimulus.
Forgetting about the social implications of your statement, surely you must have some small local businesses that can benefit from your renewed business when they reopen? While you may not need the money, plenty of other folks will. I'm not saying to hand out the money, but earmark it for your favorite local businesses and spend it as soon as they are back open for business. You'll still get a benefit of the extra money, but more importantly, those whose businesses have really suffered will see the benefit and it hopefully keep them going.
You don't seem like the kind of person that would turn your back on your neighbors, this is our opportunity to show the nature of character.
Tony
PS: I did completely rewrite this post to take a less negative tone.
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So you're still going to the grocery store as often as you used to? That's not helping the problem. We need to reduce the amount that we go anywhere and stay home more often. Just working from home isn't enough, you need to stay out of restaurants, grocery stores, church, and anywhere else you used to go on a regular basis. Or at least reduce the frequency you go.
To do this you may need to purchase more supplies at the grocery store to tide you over for a month instead of going every week (or however often you go). But don't let anyone catch you stocking up your supplies or they'll accuse you of hoarding food, supplies, TP, etc.
How do you tell if someone is hoarding, or if they're simply stocking up as a responsible person should?
living on social security leaves us short $200/month, so we are going to put it in savings and use it to make up the needed money in our checking account. Social Security is designed for people to have no rent or have their house paid off by the time they go on it, so if you have to do either one of those your screwed, especially with added medical bills on top from failing Health in your old age.
rfjustin
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I won't disagree with this statement: putting the money into the market defeats the purpose of money meant as an economic stimulus.
With that being said, I made (and continue to make) sound financial and preparatory/protective decisions beginning many years ago, which allow me (among other things) the flexibility of having discretionary spending today. I can take the incoming monies received today, invest it for long term gains, and still patronize my local businesses when they are back online. Simply put, I can have my cake and eat it too BECAUSE I HAVE PLANNED AHEAD.
I have offered to help many neighbors (many are retired/older folks in my neighborhood), and continue to do so. Those who know me personally would attest to this.
"Luck is what happens when preparation meets opportunity”...Roman philosopher Seneca
rfjustin
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I go get groceries about once every two weeks. I cooked a lot at home before, I cook even more now, otherwise pretty much take out only. Work is remote now (#blessed), church is remote, there is no doubt I am doing my part to flatten the curve. Speaking of, here is a look at the US as of this evening, and here is my backyard. I'd be a hell of a lot more concerned about needing groceries if I lived on the east coast.
I'm sorry, what did any of your above post have to do with what your were going to do with your stimulus check?
Well said. This whole covid 19 hasn't changed my life. I've always been a home body and basically worked ate dinner and slept. In free time work on my hobbies.
Except for...
Cooking more, eating take out otherwise, and church from home. So, it seems more than NOTHING different. I congratulate you on being responsible and doing your part to flatten the curve. I too am trying my best to go out as little as possible.
I was confused why you made it sound like people who were being responsible by shopping less often and therefore stocking up on supplies were, in your view, "hoarders".
You said, "One cannot play the "do what is good for society" card in regard to the government money-check a mere 2-3 weeks after the "its all about me" hoarding was in full swing. People's actions in the last few weeks have validated everyone will be out for their own." in the post that you claimed you were damn proud that you'd done NOTHING different. I was only surprised that what you call hoarding I can see what might be acting responsible, and so I asked how you tell the difference.
So how are you able tell if someone is hoarding (bad) vs stocking up so they go out less often (good)? That's all I was trying to find out.
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Will be spending some towards dental work for my wife. Told her if see didn't talk so much, her teeth would last longer.
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Remember when the coasties looked down upon 'flyover country'? For some reason, long term vacation rental interest is way up out here in the middle of no where. One of our tourist towns has passed an ordinance that basically prevents outsiders from going there to escape the virus (and importing it). They must have noticed what is happening in Sun Valley. I'm happy to stay around the house although it is driving the spouse crazy. The stimulus, prob local business and the food bank. Stay safe.
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I have watched this unfold with great interest. I was denigrated back on 2 March because I posted that I thought that having a supply of food in the house for a couple of months was a good idea. Call it a ancestral thing. The denigrators idea of stocked food was rice and beans, we stock what we eat. We add fresh as needed. Like I said at the time, some people have no idea how to be prepared. I go out about a fourth as much as I used to and if I didn't think my spouse would go postal without certain things it could be less than that. Our stimulus will propably go to local businesses that we frequent, just remotely now. We also support the food bank. Interesting times. Oh, and yeah, I did my best to plan ahead also.
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Actually, it has a very similar effect. When one person buys a stock, someone else sells it. And when the person who sells the stock spends the proceeds, it’s not much different from the stimulus that would have happened had the first person spent it. Even putting it into the bank has a stimulative effect because that money becomes available for someone else to borrow and spend. Probably the only thing someone could do with the money that would not be good for the economy is to put the cash in a mattress, where it’s neither spent nor invested.
So my advice is to do with the money what’s best for your circumstances. Save it, invest it, or spend it. Unless you put the money in a mattress, it will help the economy. Make sure it helps you as well.
rfjustin
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A lot of people bought there fair share, others hoarded. The result was still the same, empty shelves for a lot of folks that arrived late to the party (for many reasons). People hoarding validates everyone will be out for their own during high stress situations, therefore I feel no obligation to spend the stimulus monies in the manner in which it was intended. Call my crazy, but if everyone is acting in their own best interest, why would I not do the same?
rfjustin
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I'll answer your questions even though you're refusing to answer my question for some reason.
I'm not suggesting that you *not* act in your best interest, I don't think. At first you said you hadn't changed your behavior at all (other than work) which I would have suggested was wrong, but later you clarified that you have changed a lot of your behavior which I actually congratulated you on. I'm sure if you said it was in your best interest to go out as often as you used to I probably would have suggested otherwise. That might be what you mean.
Spend the money however you want or need. The only thing I really don't understand is why you accuse some people of hoarding when they may actually be doing the right thing and stocking up so they can leave the house less often. I hope you do answer my question about how you can tell the difference but I suspect you actually cannot tell the difference and were probably making assumptions and that's why you won't answer.
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