T Nation

What Will You Spend Stimulus Check On? (USA Only, If You Get One)

getting close to 6k. don’t need a penny. doing pretty well. barely under the limit to get one.
will be buying silver, ammo, and supplements.

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Drugs and hookers. If there’s any left after a little trip to the racetrack…

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If I got one it would be on a condo rental for the beach, or maybe a sound system for my truck, or maybe hookers and blow assuming I could find that. Or taxes. Sad day mane

Edit: just noticed you said 6k!?!?! You serious Clark??? Have they all been this big? I was thinking they were like 1500!?!

5600 exactly. family of 4.
this is such nonsense lol. most people I know don’t need that money. a huge chunk of it will be probably gambling on robinhood

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Please all say Gamestop.

two chicks at the same time…

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Pay off my car. If the car was already paid off, i’d be saving it.

Have five boys. Think I’m getting about $9800. Every penny goes to a down payment on a house.

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Some of it will be going to the wife’s student loans. Some will go to local restaurants and breweries.

I think something to keep in mind here is that when one receives money, they maybe use it for a specific thing that doesn’t seem ideal to stimulate the economy (paying off a loan, car, medical debt, etc…), but then they have more of their own money sitting around, and most people with money sitting around spend it.

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Same as my last payment… Towards 50% tips at the restaurants and pub downtown by my office that have either been closed or struggling.

Just tips? I am spending a good portion of it on restaurants, but not just the tip portion of the bill. Good on you if so. I think those people were highly impacted by the Rona. I have upped my tip percentage.

Yeah, tips only. My reasoning is that i generally do not eat out or drink in bars much at all typically because i am very frugal by nature and nurture and by spending it only on tips i am more directly helping the service staff, but also making the check last longer which means i will go eat out/to the pub more often to fully dispense my stimulus check (which in turn also helps the managment). Dont get me wrong, i know the owners/managers of these establishments need the money/business badly too, but I recognize more with the service staff whose faces i know and saw/see on a regular basis (and whose position i used to be in).

In my mind im less financially squeamish about going to a restaurant 10 times at a 50% discount (tips) than i would about going to a restuarant 5 times for free, but then 5 more times for full price (the horror!). Weird, i know, but thats how im wired.

I get that the point of the checks is to stimulate the economy so buying things or going on vacation is a great idea as well (tourist destinations NEED business). But im not a fan of the folks just dropping the funny money into their stock accounts and contributing to the K-shaped recovery. I think everyone who doesnt NEED the money should be spending these free checks with an eye towards helping others less fortunate, or helping to grow the domestic economy. YMMV.

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Agreed! I was reading an article yesterday that BOA said most would not spend the money. As if paying off debt is a bad thing? I was like, if I pay off the debt, money is free for other things. If the debt is large and you only make a dent in it with the stimulus money, then I can see that doing nothing for the economy.

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using debt to paying off debt. and then future debt will be taken out to pay of current debt lol.
sorry - none of anybody fault here.
the stimulus will cost all of us - massive inflation and potentially tax hikes.
i have 0 debt, but at this point, with massive inflation coming, i would not rush to pay of certain debt (like mortages), CC debt - yes. but otherwise put money into paper-free value stores.

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I feel old saying this, but mine will been in a mutual fund in the first 48 it shows up.

Maybe, I think it is kinda like UBI (a redistribution of wealth). With stuff like this and UBI, we all get consistent amounts of money, but the wealthy (subjective, I will probably pay more than I receive if we get UBI) who received the stimulus will pay more in tax than they received, while the poor pay very little more in tax.

As to inflation and tax hikes, I say the same, maybe. The hope is the stimulus stimulates the economy. When that happens production goes up, GDP goes up, and more taxes are paid even though the rate says the same. The government brings in more money. Stimulus can be an investment (not just a cost) if done right. As to inflation, we have had lots of stimulus (including the pre Rona, Trump era tax cuts (I see this as a form of stimulus) which didn’t make sense with a strong economy), and we haven’t seen a lot inflation.

I’m sure that I don’t qualify for stimulus.

I just saved ya’all’s tax money -

welcome!

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Ideally it would stimulate the velocity of the money in circulation. That’s an understated factor in the health of an economy. Typically that’s one of the functions of interest rate manipulation but interest rate is tapped out at this point so this is basically CPR or a defibrillator.

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we have not seen a lot of everyday items inflation, or to a low enough extent that you don’t notice it. gas is up 25%, a lot of food items are up 25%, some stuff I do track at the local grocer, but overall in proportion to my salary - it is not ‘bad’.
however you see inflation in financial assets, housing etc. how do you think bezos got richer by 100bill or so? you guessed - money printing

I think it probably had more to do with people not wanting to go to stores. I ordered more Amazon stuff during the first couple months of the Rona. I think that had a direct impact on Bezos’ net worth (his Amazon stock went up).

The stimulus (extra money printing) did indirectly help Bezos as people had more to spend, but I would bet under the circumstances that even without the stimulus, Bezos would have made a lot of money this last year.