Stimulus money?
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Stimulus money?
| Thu, 02-26-2009 - 10:11am |
Well, looks like starting April 1st we should see tax withholdings in our paychecks. I think it amounts to about $10 or $20 per pay period. How do we all plan on spending/using this money?
I can tell you that I personally am scared to get "used" to the witholding money b/c I can guarantee that money will go away next year. Then I fear I will be hurting trying to get used to the deficit in my paycheck. I plan on snowflaking or transferring that exact difference in my check right into savings.
I know this defeats the purpose of "stimulating" the economy but I can't help it. I WILL be responsible with my money!

We won't see any of it.
DH is just putting that extra money toward his IRA. And it won't affect me in the short-term because I'm self-employed, and I don't have taxes taken out of my billing. It may be a nice surprise when I file next year, though.
I plan to pretend it's not even there and put the difference in our savings/efund.
Unfortunately, it looks like for me that about the time we see a little more in our paychecks, I will be driving a more expensive ride.
Norma
"Patience is the best remedy for every trouble"- Plautus
*sigh* no stimulus north of the border (for a few months anyways as far as I can tell). I mentioned this is another post that the only thing that I may see is that my Canada Pension Plan contributions have been capped, which means I will "max out" on them earlier then normal.
In Canada, employees pay into the CPP. It is a fixed percentage of income up to a capped amount (around $2000 I believe) It is taken out every pay check regardless of your income. So those with higher incomes contribute more each pay, but max out earlier. With my income, I generally max out sometime in late October. If the levels are capped, and I have my raises, I should max out a few weeks earlier, which means for a few weeks, I have an extra $100 or so on my paychecks. I funnel that money right to Christmas so I don't get used of it!
If I was American, I would definitely funnel it into savings or debt. Including it (and getting used of it) becomes dangerous because when its gone, you "need" it.
Good luck ladies!
Bex -
"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."
Bex -