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Post by tracyarts on Apr 13, 2020 20:41:22 GMT
I agree, a lot of people I know are using it as "catch up" money. I think the money will be spent by most people. But not to stimulate the economy - to pay rent, bills, buy groceries. In my mind, a stimulus is meant to get your to buy things you wouldn't normally - new appliances, a fence (like someone upthread is going to do), new electronics, whatever. When people are using it to just get by and pay bills and put food on the table, that's not a stimulus. I'm lucky and am fine. According to online calculators I'll be getting about 50% of the total amount based on my income from 2019. It'll be saved.
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Post by ghislaine on Apr 14, 2020 1:13:37 GMT
Even those who will spend it will most likely spend it on needs (rent, utilities, Bills, taxes or groceries). To me that isn’t going to stimulate the economy at all. It is a band-aid solution that isn’t enough. To me it is about the perception/politics of it all rather than doing much good up front. A stimulus is meant to stimulate the economy. If 75% of the business are closed there is nothing to stimulate. It is just a lifeline for those who need it most/fit in the first set of rules. Don't forget that the money spent on needs is still going somewhere. It gets spent again by the landlord to pay a mortgage, or make repairs. Businesses keep their cash flow to continue paying employees so we don't have even more unemployed, etc., etc. I think there's plenty of benefit to it beyond perception/politics. I agree that it isn't enough though.
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Post by chances on Apr 14, 2020 5:11:35 GMT
If this check was the only sort of relief available, it wouldn't be much of a stimulus because so many who receive it would have not choice but to use it for food, utilities, rent or some other necessity. However, there is a pretty wide-ranging unemployment package that will help many (obviously not all) meet their immediate needs, and the assistance to small business to help them keep their employees working will also help. In that case, even those that "save" it will probably spend it once the country opens back up. And that is where the real stimulus will be felt--getting consumer spending back to a more "normal" level once the immediate crisis is over. By sending it out now, it helps those who need it now and also sends a message to Wall Street that things will be getting back to "normal" again at some point in the near future. Now whether that scenario works out the way it is hoped, who knows? Hmmm, that's interesting. I will have to look more closed at the entire package.
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Deleted
Posts: 0
Jul 1, 2024 9:56:31 GMT
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Post by Deleted on Apr 14, 2020 5:34:16 GMT
Damn that personal freedom. It always bites someone in the butt.
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Post by SAHM wannabe on Apr 14, 2020 5:56:37 GMT
I'm saving mine as a personal safety net. My teacher salary is guaranteed through the end of this school year, but I have no idea when we will get back to "normal." What if the shut down continues longer than expected? What if distant learning causes a change to my contract? What if there's a secondary spike? What if the public isn't ready to return to work or school because of continued lack of testing? So many unknowns.
When life resumes in our new normal, I hope I still have the check sitting in my savings account in its entirety. I have discussed with my children that we will go out and spend the entire amount in our community and do our part to stimulate the economy. But not until then.
That's my plan and my hope.
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Post by jlynnbarth on Apr 14, 2020 7:51:21 GMT
I’ll be putting ours aside just in case we need it in the future. I got laid off, but dh is an essential worker so we are doing fine financially for now. Anything can happen though, so I’ll put it aside. Once things gets back to normal it’ll probably go towards a new driveway. Ours is cracked and chipped. The winter weather takes a toll on concrete. It was our next big purchase so we will hopefully use it for that.
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artbabe
Pearl Clutcher
Posts: 3,154
Jun 26, 2014 1:59:10 GMT
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Post by artbabe on Apr 14, 2020 11:27:12 GMT
My dad and I decided that we are going to use a large portion of the money for leaving large tips at restaurants and bars. We both don't really need the money and the people who work in food service really do.
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