Proposed Stimulus Package

iVillage Member
Registered: 07-22-2008
Proposed Stimulus Package
27
Tue, 01-06-2009 - 7:34pm

Hey all, hope everyone is well!


There is much talk recently about the next Stimulus Package. President Elect Obama has said he would like to see something from Congress within two weeks of him being in office. Part of this stimulus package is a proposal, similar to the last stimulus in 2008, that each taxpayer receive a check. Of course the hope is to get the economy going.


So, since this is a debt support

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Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Tue, 01-06-2009 - 7:36pm
Our last stimulus check went toward home repair.

All my best,
Danni

iVillage Member
Registered: 07-05-2006
Tue, 01-06-2009 - 7:39pm
I have been thinking about this a lot lately. I'm not for another stimulus package, but at the same time, I could really use the money. I can tell you one thing though, it would not go to stimulate the economy and I think a lot of us are in the same boat. Mine would either go to paying a debt or to my Emergency Fund. I have no idea how much we are getting, how much did we get last time, I don't even remember! I do know that it was sent off to debt about 2 seconds after I got it!

iVillage Member
Registered: 12-30-2008
Tue, 01-06-2009 - 8:02pm

I would use 75% of it to pay down debt and the other 25% towards savings. I wouldn't buy anything with it.

Melissa








iVillage Member
Registered: 07-22-2008
Tue, 01-06-2009 - 8:27pm
Avatar for fire_bug
iVillage Member
Registered: 03-25-2003
Tue, 01-06-2009 - 8:51pm
It all depends on how much it is and when it arrives. We're expecting a decent tax refund this year (I really hope I'm not wrong about that) and some of it will go the the e-fund and the rest will go toward debt. If we get a stimulus check, ideally it will go toward debt but since we need to do some work to the house before we can sell it, it might have to go toward that. There's a good chance DH will be getting promotion by the end of the first quarter (keep your fingers crossed) so that will be a big help. If we're lucky enough to sell our house quickly and get a decent price, we could be debt free, except for our new mortgage. If that happens before the stimulus (highly unlikely) we would probably out the money into savings.


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Avatar for earnhardt_jr_fan
iVillage Member
Registered: 03-25-2003
Tue, 01-06-2009 - 9:03pm

It would likely go towards some home improvement we desperately need to do -- we need a front door, new screen door, to replace all the doorknobs in the house (I know. I know. Silly, but it's something we're going to need to do and soon!), replace all the heat vent cover things (metal things -- ours are the original ones and they are all breaking), replace a couple lights/globes and a few other smaller things. It doesn't seem like much, but when you add it all up it's probably about $600 total with everything we need to do. So, that extra money would help. I suppose we WOULD be helping the economy by purchasing all this stuff and we'll be helping some small business when we hire someone to come and install our front door since we live in a manufactured home and won't risk doing any of it ourselves.

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iVillage Member
Registered: 01-25-2006
Tue, 01-06-2009 - 9:16pm

I used my 2008 stimulus check to purchase a new Weber gas grill. I would've bought a grill sometime this last summer anyway and I made a purchase of an American manufactured product intentionally. I am not in a terribly tight spot and felt that I was going to do it anyway one way or the other. I just was sort of specific about that money.

This time I'm likely to try and spend it also. Probably for something in the house. I need light fixtures so maybe I can find an American manufacturer for those. Another choice would be a bookshelf and there is a locally owned company that I'm almost sure manufacturers the products in my state so that would be a possibility.

If things were tighter or I didn't have my consumer debt paid off, I probably would not stimulate the economy but it seems like a reasonable choice for me.

Peg

iVillage Member
Registered: 10-16-2007
Tue, 01-06-2009 - 9:22pm
I figure I have stimulated the economy enough, hence the reason I need to pay off all this debt!!! Last year I used my check to put away for when I was on maternity leave. This year (if we get one) I will totally be using all of it to pay off some cards!!! I hope we get one just for that reason, not that I want my daughter or grandchildren to paying for this when they are my age.
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iVillage Member
Registered: 06-03-2006
Tue, 01-06-2009 - 10:37pm
I would like to put it toward savings but will probably use it towards debt. I will NOT be spending it, that's for sure.
iVillage Member
Registered: 01-06-2009
Wed, 01-07-2009 - 6:23am

I don't think that the stimulus package is coming to us. It is going to bridges and roads and the steel

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