Friday, January 25, 2008

Stimulating!

So, you've probably heard about the economic stimulus bill that's going to be the cause of some tax rebate checks in the mail for those of us under a certain income cap. (I am under almost any income cap.) I can't say I'm thrilled with the idea of flinging money we don't have at everyone in the hopes that everyone will fling it back at the retail sector, but that doesn't mean I'm going to turn down a $300-$600 check. No sir.

Initially I'd thought it would just go right into my savings account, but actually I'm thinking I should stash it for medical expenses. Then I won't have to scramble around like I'm currently doing, for a little while, at least.

8 comments:

Ryan said...

Or if you have a stock portfolio, invest it. With the market downturn there are many excellent companies now with cheap stock prices.

MEG said...

In order to fulfil my patriotic duty to stimulate our economy, I will spend at least half of it.

Anonymous said...

Just be careful it is actualy an advance on your tax refund so if you are not planning on getting a refund then you will owe that money back!

PiggyBankBlues said...

i think i'lll fly to miami and lay on a beach :)

English Major said...

Really, Anonymous? I was under the impression that it was a tax rebate (i.e. a rebate of actual money I've already paid in taxes).

michelle said...

I'm pretty sure it's a rebate too - i.e., separate from tax refunds. I'll probably put it away for emergency money.

Ms. M&P said...

I like piggy bank's idea--i would love to use it to travel, but i doubt i'll blow it all in one place...a girl can dream, though ;)

And yes, the checks will be "stipends" so that even those who don't pay income taxes will get them. It's not an advance on a refund, but the refunds will be coming out at about the same time. hello, windfall!

rhbee said...

I agree with you english, why are we going further into debt when already owe everyone and their brother? But that being said, I think the ING banks are probably the best way to go since you'll be able to earn interest while waiting to see exactly how this is all going to turn out.