I have been surfing around the internet looking at lots of different sites and I am seeing threads on forums, blog posts and journal enteries detailing what they are going to spend their stimulus check on. Sure it's free money and a good chace to pick up that LCD TV or that iPod or that top of line Cell Phone. Those that are looking to save some money or get themselves out of debt shouldn't be looking at what they can spend it on but how they can use it to improve their financial situation. If you are sitting with maxed out credit cards, bad debt or house that is in bad need of repair you should rethink how you are going to spend that money. The government Stimulus Check provides a great opportunity to pay down one of those high interest credit cards, get your bad credit back on track or replace some of those old windows or appliances that are killing your heating and hydro bill every month. I know what you are saying, I have to live to and it's nice to enjoy it but that's looking at the small picture. Use it wisely today so that you can enjoy more of those things in future. Having a nice LCD Big Screen TV doesn't do you much good if you can't pay your cable bill.
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I agree..
If you’re content with your life and your possessions than the extra money can go nicely in a savings account. Or pay off some credit card debt.
That’s not what the government wants you to do. They want you to go to the nearest retailer and spend it all. That would stimulate the economy more than putting it into a savings account.
It all goes to priorities… If you want to be in good financial condition, then you’ll use your check wisely. Some people just aren’t at that point yet. They want instant gratification. I’m guilty of doing that in the distant past.
It seems that the older you get, the wiser you get with these types of things.
Oh yeah, putting your stimulus check into savings isn’t really stimulating the economy much.