Poll of the Day > How much will the $1200 stimulus impact you?

(+) Yeah! (+)

Im just building up my emergency fund again right now back up to 30k. So not really.

I elected to only get $600 a paycheck July-November to fill up some tax-advantaged accounts and used it to fund my IRA and buy a car since mine wasnt legally drive-able anymore, so I dipped into it quite a bit last year. I could deal with lower than 30k there but I really need 30k to feel mentally unstressed if I did lose my job.

My wife and I are pooling our money together in our emergency fund as well. We had a kid born in September last year, but we haven't been able to file taxes yet this year (so our stimulus money is based on last year's filing). Maybe we can get the extra money for the kid as well (retroactively).

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Dunno. I'm getting by for now. Less hours at work but at least I have something. Could spend this on fun stuff. That's the idea right, to fuel the economy? I'll probably wind up saving it until things are on sale, it's just what I do.

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DPsx7 posted...

Dunno. I'm getting by for now. Less hours at work but at least I have something. Could spend this on fun stuff. That's the idea right, to fuel the economy? I'll probably wind up saving it until things are on sale, it's just what I do.

You should order a Valve Index. I hear Half-Life Alyx is pretty good.

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shipwreckers posted...

You should order a Valve Index. I hear Half-Life Alyx is pretty good.

Is it infected with Steam though?

I'll hold it until I find Doom or FF7 on sale. Maybe start nosing around for a used car as mine is an 03. Can't get a tv since anything with 4k is too big. What can I say, I've always been more of a saver instead of wasting money on impulse things.

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It will quadruple the money I have in Savings in the event of an emergency.

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Straight to the mortgage. There's luxuries I absolutely want but I want this thing gone

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Debating whether to save it all, invest in computer upgrades, donate to local charities, or replenish the automatic Roth IRA contributions that I stopped in March and April.

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I'm going to use it for stock buybacks.
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Zero effect

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Clench281 posted...

Zero effect

You can send it my way then.
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Im buying $1200 worth of scratchers

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Pretty much zip. I'll use it to pay my taxes (delayed until July 15, yay!), the rest will go in the bank for bills.

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Well it means I won't have to dip into my car fund, so I should be able to get one once you can start buying them again

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shipwreckers posted...

My wife and I are pooling our money together in our emergency fund as well. We had a kid born in September last year, but we haven't been able to file taxes yet this year (so our stimulus money is based on last year's filing). Maybe we can get the extra money for the kid as well (retroactively).

You still have time to file online right now and that should count:)

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I filed back in mid February. It's been processing since late February when that shouldn't have taken even a few weeks. As a result, they're using bank info from the previous year's return, and that account's been closed since late July. So I am missing out on quite a bit of money until the IRS gets their shit together for my case.

Sadly, I cannot call them about this since the service department is closed.

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DPsx7 posted...

Is it infected with Steam though?

Yes, enjoy playing pc games from before 2020 for the rest of your life

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With it, all of my wildest dreams will come true

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Not near as much as $12,000 would.

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Probably going to put it towards my car. Pretty boring, but whatever. As long as I owe any money at all I see everything I do own as a loan I would take out if I spent.

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Not much at all. I have a lot of savings and am still working at the same rate during this time. Incredibly lucky. Plus just got over $1,200 a couple days ago anyway from my tax return. Because of that I am going to do my best to spend quite a bit of this stimulus money to artists and freelancers I know who have seen their main sources of income dry up.

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Yellow posted...

Yes, enjoy playing pc games from before 2020 for the rest of your life

Way ahead of ya. I stopped PC gaming many years ago.

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Mead posted...

With it, all of my wildest dreams will come true

Your finally gonna get a pair of Llama's and a Llama sled!!!

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I'm using it towards moving expenses once things settle a bit.

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Find a hotel room to crash for a couple days and have a nice shower.

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Miroku_of_Nite1 posted...

Find a hotel room to crash for a couple days and have a nice shower.

are you homeless?

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wolfy42 posted...

You still have time to file online right now and that should count:)

We shall see. Let's hope it works.

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Nada, but it's more money in the bank.

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None, I live in Canada

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i am still employed and got it. so not much.

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It adds some security I can buy more essentials like food without wincing

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I save my ass on my car and insurance next month. I can buy food without worrying now. I can also buy Trials of Mana next week.
People immeditely spending it all at once on stuff that isn't bills are crazy. Like, I've heard peopel say they can buy the Valve Index now, leaving them without only $200 left.

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it wont, but free money is free money.

Wife and I used ours to pay off our furniture from when we moved into our apartment back in August.

itll get me several months worth of alcohol
gonna get shitfaced every day for a long ass time

I plan on just placing it in my savings account. There is nothing out right now that I need.

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Not at all. Both my boyfriend and I are still working. We're putting them into savings in case something happens before this is over. If not we're going to get a water softener system.

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None. $1200 by itself won't change anything for me; it's just part of the larger picture. It'll probably wind up in my taxable brokerage or IRA account.

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I don't live in America, but it would make literally no change to my life whatsoever. I'd take it, but it would not be felt.

Do people really feel like that? I mean, I'm working and still making money where the $1200 isn't saving me from dying. But at the same time, it's enough to pay y half of the rent and bills for a month and everything. Plus, a little extra for a small portion of my personal bills separate from the ones I share with a roommate. It's not going to be the most impactful amount I've ever received, but it will help. Do people really think this amount will have 0% influence on their life at all? Even if you're still working, it's a free $1200. I think people are just trying to brag or something... It's less than a paycheck for me, but I know it's still a free $1200...
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I bought a new PC.
I'm still working, and making more than ever, so this is just fun money for me.

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LinkPizza posted...

But at the same time, it's enough to pay y half of the rent and bills for a month and everything.

$1200 covers a house payment and the bills for the month here. With a bit left over.

What can I say? This town is a poor craphole. Yet the grocery stores are still kinda ridiculously priced and we don't have a Dollar Tree. Go figure.

LinkPizza posted...

Do people really feel like that? I mean, I'm working and still making money where the $1200 isn't saving me from dying. But at the same time, it's enough to pay y half of the rent and bills for a month and everything. Plus, a little extra for a small portion of my personal bills separate from the ones I share with a roommate. It's not going to be the most impactful amount I've ever received, but it will help. Do people really think this amount will have 0% influence on their life at all? Even if you're still working, it's a free $1200. I think people are just trying to brag or something... It's less than a paycheck for me, but I know it's still a free $1200...

I don't change my spending behavior based on how much is in my accounts. I earn enough to pay my bills, and the excess gets put into savings/retirement. I'm not even earning a 'lot' of money by US standards (60% decile) but all my bills and loans get paid each month, in a high cost of living area, with plenty left over. So I effectively wouldn't notice if I never received the $1200.

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Clench281 posted...

I don't change my spending behavior based on how much is in my accounts. I earn enough to pay my bills, and the excess gets put into savings/retirement. I'm not even earning a 'lot' of money by US standards (60% decile) but all my bills and loans get paid each month, in a high cost of living area, with plenty left over. So I effectively wouldn't notice if I never received the $1200.

I wouldn't say to change you're spending behavior because of it. But just having an extra $1200 is something in itself... But even my mom says it helps. And she's in a very high cost of living area. It's not like $1200 is pocket change to most people... Idk. Especially with how apparently 78% of Americans living paycheck to paycheck, you would think most people wouldn't say $1200 doesn't affect them. Even not living paycheck, it's a good amount of money. If people didn't want their $1200, I'd be kind enough to take it off their hands...
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Well, living paycheck to paycheck isn't really a good proxy. Most people are terrible at managing money, regardless of their income. This is demonstrated by the fact that people can live paycheck to paycheck regardless of how much they earn. Something like a quarter of households in the top 15% of earnings live paycheck to paycheck with no savings.

Would it be reasonable to give up my stimulus check to someone earning twice what I do because they spend more on luxuries?

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I only got $438. I will save it I guess. Doesn't make a big difference since I still have my job

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Clench281 posted...

Well, living paycheck to paycheck isn't really a good proxy. Most people are terrible at managing money, regardless of their income. This is demonstrated by the fact that people can live paycheck to paycheck regardless of how much they earn. Something like a quarter of households in the top 15% of earnings live paycheck to paycheck with no savings.

Would it be reasonable to give up my stimulus check to someone earning twice what I do because they spend more on luxuries?

Sure. I guess. If you don't need it, why not? It just seems like people are saying how this $1200 means nothing to them. If that's true, I'd gladly take it. It could help me out a lot. Like I said, it's not even the same amount as one paycheck which is only for two weeks. But I'm not going to say it's worth nothing just because of that. It'll definitely help and be felt... Even my family back home who live in a much higher cost of living area like the check. For them, it might not even be enough for a month's rent. But it helps... Though, more would definitely be appreciated...
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Not much. I'm glad I have it, but I'll probably just spend a couple hundred dollars on food and possibly clothes.

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So far I paid off the remaining balance of my phone ($116). So my phone bill will be cheaper overall now since I'm not upgrading

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I don't get anything because I make over $100k/yr.

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